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Thursday , 22 November 2018

Kachikwu says, 2 modular refineries ‘ll be ready b/4 Dec

Dr. Ibe Kachikwu, Minister of State for Petroleum Resources has said., “Our refinery initiative drive is yielding result, as numerous investors/licensees are presently at advanced stages of modular refinery establishment with planned commissioning of at least two modular refineries before the end of the year”.

Kachikwu said this in a keynote speech at the fourth edition Sub-Saharan African Upstream Oil and Gas Summit and Exhibition held on April 11-13, 2018 at the International Conference Centre, Abuja, Nigeria, highlighting that the SSA as a geopolitical zone is attracting considerable attention as human capital and natural resources provide building blocks of a sustainable economy.

The Minister rated high the current reform of the African Petroleum Producers Organisation, championed by Nigeria as a major key collaborative effort that must be pursued to achieve the Continent’s lofty aspirations as a geopolitical bloc.

“Oil, Gas and Power yield a variety of benefit to our countries, ranging from revenues for governments, nations’ development, to employment opportunity for our citizens;

“The different segments, upstream to downstream, undoubtedly bring benefit to our nations. As such realization of the entire value chain of these petroleum resources within our countries, presents a virile opportunity to alleviate socio-economic challenges and foster sustainable growth in our countries”.

He said there was no better time than now to take all necessary actions that would facilitate the realisation of these potentials for desired success stories.

The Nigerian Oil and Gas Industry Roadmap ‘7 big wins, Dr Kachikwu said, reflects the country’s efforts towards realization the value chain of oil, gas and power.

“The 7 key initiatives entail interplay of innovative technology, economics and public policy,” he added.

 

 

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