Oil & Gas
THE Senate wants the Ministry of Petroleum Resources to stop its effort to concession the Port Harcourt refinery to Agip and Oando.
The handover was to allow for the repairs and the operation of the facility.
But the Senate said on Tuesday, May 30, that the process should be suspended pending resolution of some concerns over the transparency of the process.
Ibe Kachikwu, minister of Petroleum, had on May 9 announced that the Nigerian Agip Oil Company, a subsidiary of Eni, an Italian oil giant, had committed to repairing the Port Harcourt refinery, as part of a $15 billion investment that includes building a 150 thousand barrels per day refinery and a power plant.
The plan was aimed at strengthening Nigeria’s drive to end fuel importation by 2019, Kachikwu said.
But following a motion by Mohammed Sabo, APC-Jigawa, on Tuesday, May 30, the Senate expressed reservations over the deal.
— May 30, 2017 @ 19:00 GMT
Tags: Concession Eni Ibe Kachikwu Nigerian Agip Oil Company Oando Port Harcourt refinery refinery
