NNPC: Financing firms jostle to revamp Port Harcourt refinery


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The Nigerian National Petroleum Corporation (NNPC) on Friday said some of the financing companies it approached to revamp the nation’s refineries have shown interest in the Port Harcourt refinery.

NNPC’s Group General Manager, Group Public Affairs Division, Ndu Ughamadu, made the disclosure in an interview with journalists in Abuja.

Ughamadu said that a team of engineers from the state oil company had gone abroad to source for financiers to ensure revamping of the major refineries in the country.

He said, “About three financing companies have indicated interest but their names are yet to be made public but they have shown interest for Port Harcourt, Warri and Kaduna refineries.

“But they showed the most interest for the Port Harcourt refinery.

“Efforts are on, our team of engineers are abroad, seeking financing. What we want to do with refineries is to bring in financiers’ that will put in their money for rehabilitation instead of the NNPC.”