Nigeria to Develop 20% In-Country Crude Oil Refining Policy
The refinery is expected to commence production in December 2020.
SEATTLE (Oil Monster): The Minister of state Petroleum Resources, Dr Ibe Kachikwu, has said the Federal Government of Nigeria will be announcing a policy requiring 20% of crude oil produced to be refined in the country.
According to him, the percentage is expected to increase to 50% in 5 years , as the country is left with no other option or will consistently stay in the abyss of the lack of processing.
This follows the modular refinery being developed by Waltersmith Refining and Petrochemical Company in Imo with a capacity of 5,00bpd of crude oil.
The refinery is expected to commence production in December 2020.
The minister hence described the policy as an integral part of the 14-point agenda for reduced militancy in the Niger Delta Region.
Courtesy:www.plustvafrica.com
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