…five refineries are being built across the country
The Chief Executive Officer of the Department of Petroleum Resources (DPR), Sarki Auwalu has said Nigeria will become a net exporter of petrol and other petroleum products in the next two years as the federal government intensifies plans in the onstream oil refinery projects.
This was disclosed in a statement by the Department of Petroleum Resources (DPR) through its Chief Executive Officer (CEO) Sarki Auwalu on Tuesday.
According to Auwalu, there are five refineries undergoing construction across the country and another seven are planned to address the nation’s reliance on imports.
Auwalu also affirmed that a combined capacity of 375,000 barrels per day (bpd) is projected from 27 modular refineries while 650,000 barrels per day (bpd) are estimated from the oil refinery being built by Africa’s richest man, Aliko Dangote.
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He also declared that federal government has a 450,000 bpd volume, he said, without affirming the period when the projects will be completed.
The DPR projects to increase oil reserves to 40 billion barrels and gas reserves to 210 trillion cubic feet, Auwalu said, without providing a relative statistics.
The nation’s oil industry regulator also plans to expand oil manufacture from its existing 2.4 million bpd capacity to 3 million bpd production capacity and reduce production costs.
