The Group Managing Director of the National Petroleum Corporation, NNPC, Dr. Emmanuel Ibe Kachukwu, has disclosed that the Corporation will remodel the nation’s four refineries.
The Refineries are the two in Port-Harcourt, the Warri and Kaduna Refineries and Petrochemical Company, KRPC.
Kachukwu stated this on Wednesday, after touring the various units of the Kaduna refinery, lamenting that with what he has seen, the four refineries cannot take Nigeria anywhere.
According to him, the fact that the refineries were built between 30 to 40 years ago, means there is the urgent need to support them with new modules and structures that are in tandem with global best practices in terms of new business module, new commercial module and technological approach.
“In term of how to get the refinery to function, like I said, new business module, new commercial module, new approach to how we have to get to where we should be, but what is obtainable is that most of our refineries are close to 30-40 years old.
“We need to begin to look at building new refineries in the same land space where they can share facilities, so that you will have something to lean on when these old ones are beginning to kick out”.
He said further: “That stuff of killing NNPC was historical before I came in, but we are working hard to justify why it shouldn’t be killed, but I am a business man, if we get to a point where we are not doing well enough, and it needs to be killed, we look at what the alternatives are.
“Today, whether we like it or not, let’s be realistic here, irrespective of the fact that negative gets a lot of more publicity than the positives, this organisation has kept this country going for the last 30-40 years. It has built and sustained the refineries, it has delivered fuel the moment our refineries don’t work, it has delivered retails in a very difficult terrain.
“So what I am trying to say is that you don’t throw away the baby with the bath water. There is bath water that needed to be thrown away, and we are doing that, but there is a healthy baby sitting there that we are going to nurture”.
Kachukwu also disclosed that over 200 million dollars was being saved from the cancellation of the oil swap deal.
“The essence of crude swap cancellation is that straight away you are saving over 200 million plus dollars by virtue of doing that. You have transparency in the deal per month and you have transparency that embedded in those processes, the new processes”, he added.
The NNPC GMD however commended the resilience and determination of the engineers of the four refineries, assuring that the NNPC is committed to making a difference within the 90 day time frame he gave when he assumed the leadership of the corporation.
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