The state-run Nigerian National Petroleum Corporation (NNPC) says that it plans to add 215,000 barrels per day (bpd) refining capacity to its existing 445,000 barrels of crude oil per day in Warri, Kaduna and Port Harcourt refineries in order to address the shortfall in the supply of petrol in the country.
Speaking at the Annual Oloibiri Lecture Series and Energy Forum in Abuja on Thursday, the Group Managing Director, NNPC, Dr. Maikanti Baru, noted that the plan will be executed through the private sector driven colocation of its existing facilities in Port Harcourt Refining Company (PHRC) and Warri Refining and Petrochemicals Company (WRPC).
Local media reports quoted Baru as saying that the corporation through its new initiative of establishing condensate refineries with private sector participation, is providing clusters for in-country refining capacity totaling about 250,000 barrels of crude per day, which closes the petrol supply and demand gap, and also creates positive margins to the investors.
“The country’s petroleum product demand is expected to grow from 13.2 million metric tonnes in 20I5 to 15.1 million metric tonnes in 2020 and 17.3 million metric tonnes by 2025,” he said.
GIK/APA