The Digest:
NNPC Group CEO Bayo Ojulari has confirmed that the company is in discussions with a major Chinese petrochemical firm over a potential equity partnership in one of Nigeria’s state-owned refineries. Speaking at the Nigerian International Energy Summit in Abuja, Ojulari stated that the investor is among the largest petrochemical operators in China and is currently inspecting a refinery site. While he did not specify which refinery, Warri, Port Harcourt, or Kaduna, is involved, he emphasized that NNPC is seeking proven operators, not contractors, to take an equity stake and lead operations. The move is part of a strategy to bring in technical expertise and ensure long-term profitability.
Key Points:
- Equity partnerships with global operators could enhance the operational efficiency and commercial viability of Nigeria’s refineries.
- The approach aims to transfer technical expertise and management capability to NNPC while retaining strategic ownership.
- Involving international investors may accelerate the rehabilitation and sustainable operation of long-dormant refining assets.
- Such collaborations align with broader efforts to reduce fuel import dependency and strengthen domestic refining capacity.
- The move reflects a shift from purely government-led rehabilitation to market-driven, expertise-based refinery management.
Sources: The Cable
TAGS
Refinery, Chinese Investment, Partnership, Oil & Gas, NB Digest
