The Nigerian National Petroleum Corporation (NNPC) has disclose plans to end importation of oil products by 20I9.
The Group Managing Director, Dr. Maikanti Baru, made this known while fielding questions from journalists on the sidelines of the ongoing Offshore Technology Conference (OTC) in Houston, United States, yesterday.
Dr Maikanti Baru, who was represented by the Chief Operating Officer, Gas & Power, Engr. Saidu Mohammed said all the nation’s three refineries were producing oil products.
“We load out at least 5 to 6 million litres of Petrol daily and about that same quantity of Diesel daily from the three refineries. That is part of what is making the petrol 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 the 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.
He observed that following NNPC’s foray into the energy sector through electricity generation and other renewables, Nigeria’s perennial power sector woes may soon be over.
“Essentially, NNPC has been there. Many people don’t know that the NNPC has been part of the power sector. We supply steadily about 1,000mw from Afam and Okpai, two of Nigeria’s most reliable power plants serving as one of the cheapest sources of power today in the country,” he noted.
He said the NNPC was attending the OTC 2017 in order to attract potential investors and most significantly, to showcase its efforts of transforming into full-fledged energy company.
“We are here to showcase to people who have the capacity, competence and technology to invest in Nigeria and help us increase our reserves and enhance the capacity of especially our Exploration & Production subsidiary, the Nigerian Petroleum Development Company (NPDC).
According to him, although NPDC’s production has been hampered by security challenges in recent times, Management has made strategic interventions to ramp up the company’s production within the next few years.
“Essentially we want to raise NPDC’s entire production capacity by about 700kpd and by other partners to about 300kpd so that ultimately, we’ll raise Nigeria’s production to about 3mbpd,” he noted.
He noted that in line with its transformation agenda, the Corporation was aligning its 12 Business Focus Areas with Federal Government’s 7-Big Wins as championed by the Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu