Dipo Olowookere
By Dipo Olowookere
Nigeria’s Ministry of Petroleum Resources has disclosed that the Federal Government was yet to receive funding for the rehabilitation of refineries in the country.
A statement issued on Tuesday by the Ministry however stated that steps were being taken to ensure investors agree to support in revamping the facilities to further boost the country’s production and distribution of petroleum products.
The statement noted that the volume of crude oil produced in June 2017 rose to 2.025 million barrels per day, a major improvement from what it used to be some months ago.
It further said the gas production stood at 6.741 billion standard cubic feet (bscfd) during the month under review.
In addition, a total of 33.59 million litres (ml) of Premium Motor Spirit (PMS) also known as petrol; 8.90 ml Automative Gas Oil (AGO) also known as diesel; 1.84 ml Dual Purpose Kerosene, 1.04ml Aviation Turbine Kerosene (ATK); and 0.22 ml Low Pour Fuel Oil (LPFO) or black oil, were produced during the period.
The Ministry, in the statement, quoted the Minister, Mr Ibe Kachikwu, as saying that investors would be formally approached coming up with the total cost of revamping the refineries.
He said the Federal Government was committed to meeting its 2019 target of putting a stop to importation of fuel into the country.
