Operators urge privatisation of refineries for profitability

Operators in the downstream and mid-stream segments of the petroleum industry have urged the Federal Government to proceed with the privatisation of the nation’s refineries to make them profitable again.

They also urged African governments to fully deregulate the market to check price caps and control.

Their position was contained in a communiqué issued yesterday by the 12th Oil Trading and Logistics Africa (Downstream) Conference. The initiative encourages the promotion of business, policy and stakeholders’ relationships in downstream petroleum markets on the continent.