{"id":30233,"date":"2025-07-11T18:00:36","date_gmt":"2025-07-11T17:00:36","guid":{"rendered":"https:\/\/naijaeyesblog.com\/?p=30233"},"modified":"2025-07-11T18:00:36","modified_gmt":"2025-07-11T17:00:36","slug":"nnpc-may-sell-refineries-says-ceo","status":"publish","type":"post","link":"https:\/\/naijaeyesblog.com\/ro\/nnpc-may-sell-refineries-says-ceo\/","title":{"rendered":"NNPC to make critical decision, may sell refineries, says CEO"},"content":{"rendered":"
The CEO\u00a0 of the Nigerian National Petroleum Company Limited(NNPC), Bayo Ojulari, has revealed that the company is considering selling some of its refineries as it battles with challenges in their rehabilitation and operations.<\/strong><\/h5>\n

Ojulari stated that a strategic assessment of NNPC’s<\/a> refinery operations is in progress and should be completed by the end of the year in an interview with Bloomberg on Thursday at the 9th OPEC International Seminar in Vienna, Austria.<\/p>\n

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He said, \u201cSo we\u2019re reviewing all our refinery strategies now. We hope before the end of the year, we\u2019ll be able to conclude that review. That review may lead to us doing things slightly differently.\u201d<\/p>\n

\"Dangote\"<\/p>\n

When asked if that could include putting the refineries up for sale, Ojulari said, \u201cBut what we\u2019re saying is that sale is not out of the question.<\/p>\n

\u201cAll the options are on the table, to be frank, but that decision will be based on the outcome of the reviews we\u2019re doing now.\u201d<\/p>\n

Nigeria has been attempting to revive its state-owned refineries, which have been idle for a long time, including those in Kaduna, Warri, and Port Harcourt.<\/p>\n

\"\"
NNPC to make critical decision, may sell refineries, says CEO<\/figcaption><\/figure>\n

The Port Harcourt refinery was shut down once more in May for repairs, despite briefly resuming operations in November 2023, to which Ojulari blamed underperforming technologies and antiquated infrastructure for some of the setbacks.<\/p>\n

\u201cSo refineries, we made quite a lot of investment over the last several years and brought in a lot of technologies. We\u2019ve been challenged.<\/p>\n

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\u201cSome of those technologies have not worked as we expected so far. But also, as you know, when you\u2019re refining a very old refinery that has been abandoned for some time, what we\u2019re finding is that it\u2019s becoming a little bit more complicated,\u201d he said.<\/p>\n

\"NNPCL\"
NNPC<\/figcaption><\/figure>\n

He also highlighted the high cost of oil production in Nigeria, stating that significant expenditures on pipeline security are partially to blame for operating costs, which range from $25 to $30 per barrel.<\/p>\n

Ojulari stated that the NNPC<\/a> aims to raise Nigeria’s oil production to 1.9 million barrels per day by the end of the year, notwithstanding the difficulties.<\/p>\n

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The CEO\u00a0 of the Nigerian National Petroleum Company Limited(NNPC), Bayo Ojulari, has revealed that the company is considering selling some of its refineries as it battles with challenges in their rehabilitation and operations. Ojulari stated that a strategic assessment of NNPC’s refinery operations is in progress and should be completed by the end of the […]<\/p>\n","protected":false},"author":9,"featured_media":30235,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_gspb_post_css":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-30233","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"blocksy_meta":[],"yoast_head":"\nNNPC to make critical decision, may sell refineries, says CEO - NaijaEyes Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/naijaeyesblog.com\/ro\/nnpc-may-sell-refineries-says-ceo\/\" \/>\n<meta property=\"og:locale\" content=\"ro_RO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NNPC to make critical decision, may sell refineries, says CEO - NaijaEyes Blog\" \/>\n<meta property=\"og:description\" content=\"The CEO\u00a0 of the Nigerian National Petroleum Company Limited(NNPC), Bayo Ojulari, has revealed that the company is considering selling some of its refineries as it battles with challenges in their rehabilitation and operations. 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