WE WILL STOP IMPORTATION OF PETROL BY 2019 – NNPC

May 2, 2017 AdminLeave a comment

The Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Maikanti Kacalla Baru has said plans are ongoing to stop importation of Premium Motor Spirit (PMS) to the country.

This was contained in a statement signed by the Group General Manager, Group Public Affairs Division of the NNPC, Ndu Ughamadu.

According to the statement, The GMD, who was represented by the Chief Operating Officer, Gas & Power, Engr. Saidu Mohammed, at the ongoing Offshore Technology Conference (OTC) in Houston, United States told journalists that as at today, all the nation’s three refineries were producing petroleum products.

“We load out at least 5 to 6 million litres of PMS daily and about that same quantity of AGO daily from the three refineries. That is part of what is making the PMS market in Nigeria stable today. We believe that the set target of exiting PMS importation in 2019 is achievable,” he stated.

He maintained that because rehabilitation of the refineries has been hampered by lack of regular Turn Around Maintenance (TAM) over the years, it would take more years to get the refineries fully back to their nameplate capacities.

“Don’t forget also that for us to exit PMS importation in 2019 we have to also bring in new refineries that will co-locate with existing ones together with the new ones that will be built. Then, we see ourselves as a net exporter of products. On this, I can tell you that we are on course,” he added.

Source: Dailypost.ng

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