The Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Dr. Maikanti Kacalla Baru, has said that he had engaged investors to establish a refinery in Akwa Ibom State.
The NNPC GMD, who declared this during a two-day PENGASSAN’s Triennial Retreat/Synergy workshop which opened today in Uyo, Akwa-Ibom State, said the state was well-positioned geographically to have a refinery.
“The investors have been coming to us and I have seen one that is quite promising. It is in this light that I encouraged these investors to come and see the state government and discuss,” he said.
Dr. Baru explained that although the preferred location of the investors was not Akwa Ibom State, but he had convinced them to consider establishing the refinery there, to leverage, especially on the state’s deep coastline.
The GMD called on the Akwa Ibom State Government to explore partnership opportunities provided by investors towards establishing the refinery in the state.
Speaking further at the opening of the two-day event in Uyo, Dr. Baru called on industry players to brace up for change in the sector.
He stressed that the current state of the international energy market, the urgent need to rehabilitate the nation’s refineries as well as the Petroleum Industry (Governance) Bill currently being considered by the National Assembly, were dire challenges, necessitating that the industry charts a new course
Dr. Baru emphasized that navigating these challenges successfully required strong, purposeful and focused leadership from stakeholders in an industry where changing regulatory and macroeconomic realities are imminent.
Dr. Baru seized the opportunity of the event to commend the Petroleum & Natural Gas Senior Staff Association of Nigeria, PENGASSAN, and the Nigerian Union of Petroleum & Natural Gas Workers, NUPENG, for their role in ensuring harmony in the nation’s Oil and Gas Industry, saying this has helped stabilize petroleum products supply across the country.
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