An increase in the number of new refining capacity, expected to extend till the end of 2024, signifies major competition ahead for the oil industry, with possible shutdowns, the International Energy Agency (IEA), said in its Oil 2019 Report. The IEA noted specifically that such a capacity expansion will require shutdowns to balance, estimating that…

Nigeria’s refineries - the Port Harcourt Refining Company Limited Port Harcourt Refineries Corporation (PHRC); Kaduna Refining and Petrochemicals Company Ltd. (KRPC); and Warri Refining and Petrochemicals Company Ltd. (WRPC) realised N62 billion from refined products in May 2017.

Kachikwu said this at the sideline of the 2017 Offshore Technology Conference (OTC) in Houston, Texas. He said that the country now has sizeable willing investment portfolio for the refineries...

Nigerian Air Force ( NAF) has some destroyed illegal refineries and barges in the Niger Delta, its spokesman Group Capt. Ayodele Famuyiwa, said in a statement in Abuja on Monday

Importers of petroleum products have called on the Federal Government to fully deregulate the downstream sector to enable more investments, which is expected ...

As part of strategies to end the fuel crisis, new refineries will soon be built, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, said yesterday.