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#GistMall:_FG to build modular refineries in oil-producing states

– The Minister of State for Petroleum Resources, Dr Ibe Kachikwu said this at the offshore technology conference holding in Houston, United States He also said he was working assiduously to ensure that the cost of producing crude per barrel reduces from $28 to $18

The Federal Government on Tuesday reiterated its commitment to build modular refineries in oil-producing areas of the Niger Delta. The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, made the commitment as part of efforts to woo businessmen at the offshore technology conference holding in Houston, United States.

Vice-President Yemi Osinbajo had on March 25 assured that the proposed modular refineries would be sited only in oil-producing areas as part of measures to address the developmental challenges in the area. Kachikwu said President Muhammadu Buhari had set out tough choices, hence, focus would be to stabilise macro-economic environment, align monetary trade and fiscal policies

Kachikwu said he was working assiduously to ensure that the cost of producing crude per barrel reduces from $28 to $18. “Nigerians should take the lead, invest and return monies to the sector. We need to make the sector regain its relevance and most importantly we must begin to address the future by saving. “There are oil wells in places like Saudi Arabia that are capped and kept for future generations.

Meanwhile, since the federal government said it will only build the modular refineries in oil producing states.

See the list of states that will likely have the refineries on their lands.

 

 

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