Nigeria: $ 3 billion in investment opportunities in condensate refineries

The Nigerian National Petroleum Company (NNPC) has revealed nearly USD 3.097 billion in investment opportunities in the country’s condensate refinery space.

Indeed, the company stressed that it needed $ 1.6-2.7 billion to improve the supply and distribution of petroleum products, renovate liquefied petroleum gas (LPG) infrastructure and build factories. of compressed natural gas (CNG).

Nigeria’s demand for petroleum products is forecast to increase from 15.1 million tonnes in 2020 to 17.3 million metric tonnes by 2025. “The country would need a refining capacity of about 1, 52 million barrels per day (MBPSD) to meet its gasoline needs over the next 4 years, ”said Mallam Mele Kyari (photo), group general manager of NNPC.

The country, he says, needs a refining capacity of around 1.52 million barrels per day (MBPSD) to meet its needs over the next four years.

As a reminder, the federal government, with the signing and implementation of the Petroleum Industry Act (PIA), sought to attract investment that has eluded the oil and gas sector for decades.

The need for more investment is due to the expected increase in global oil demand from 90.6 million b / d in 2020 to 108.2 million b / d in 2045, after the pandemic.

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