NNPC No Longer Imports Refined Petroleum Products – Kyari

The Nigerian National Petroleum Company (NNPC) Limited says it has stopped importing refined petroleum products.

Mele Kyari, Group Chief Executive Officer (GCEO) of the oil firm, said this at the 42nd Nigerian Association of Petroleum Explorationists (NAPE) annual international conference and exhibition in Lagos.

Delivering his keynote address, Kyari said the national oil company is now off-taking fuel from the Dangote Petroleum Refinery and other local refineries.

“Today, NNPC does not import any product, we are taking only from domestic refineries.

Addressing rumors that NNPC is obstructing refining efforts at Dangote Refinery, he said, “The point is very far from it and I’m going to speak to it straight. We are very proud part-owners of Dangote refinery, no doubt about it.

“We saw an opportunity that there is a clear market for at least 300,000 barrels of our production; we know that as time moves on, people will start struggling to find markets for their production.

“It will happen, It’s already happening. Oil is found, as you know, in many unexpected locations across the world and people have choices.

“Therefore, we saw an opportunity to log supply to the domestic refinery, not just Dangote but any other refinery that operates in the country, so it was a very informed business decision.

“Therefore, from day one, we knew that it is to our benefit to supply crude oil to the domestic refinery, so we don’t need to be persuaded; we don’t need anyone to talk to us, there is no need for any pressure from the streets for us to do this. We are already doing this.”

source: allafrica.com

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