The Nigerian National Petroleum Corporation is
inching closer to choosing financiers for the Port Harcourt Refining Company
Limited, Warri Refining and Petrochemical Company Limited and Kaduna Refining
and Petrochemical Company Limited.
The corporation’s Group Managing Director,
Maikanti Baru, said the development held the promise of boosting petroleum
products supply and distribution across the country.
“So far, about 35 interests for modular
refineries have been declared and the Department of Petroleum Resources has
issued licences to about 13, and I have been invited to the ground-breaking of
the first one in Bayelsa next month,” Baru said.
He noted that the Federal Government and the NNPC
would continue to encourage private sector initiatives that would bring in
competition into the petroleum products supply and distribution network so as
to guarantee energy sufficiency for the country.
Baru hinted that the corporation was also
exploring other sources of energy that could substitute Premium Motor Spirit,
otherwise known as petrol, in cars and motorcycles, as the use of Compressed Natural
Gas to power vehicles in Benin City was the right step in the right direction.
He said over 3,000 vehicles were now
CNG-powered in the city, making them more secured and more efficient, given
that gas is a cleaner source of energy.
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