NNPC Looks to Take Stake in Upcoming Refineries

The Nigerian National Petroleum Corporation (NNPC) has been endeavoring to acquire equity in as many as six developing private refineries in the country, including the upcoming 650,000 barrel per day Dangote refinery.  The state-owned corporation has previously stipulated that it will have a mandatory participation in any privately owned refinery that will exceed 50,000 barrels per day in capacity upon completion. In early June, NNPC Group Public Affairs Division Group General Manager Kennie Obateru commented on this further when he said, “Five of them (refineries) are at the development stage with the Dangote Refinery being the largest of them,” and that “NNPC has a dual role of providing

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