General Electric Co has proposed investing in Nigeria‘s oil refineries, potentially convening a consortium of companies to improve capacity at the facilities.
GE’s plan and similar promises from companies like Italy’s Eni to work with Nigeria to rehabilitate the country’s three oil refineries could help the government as it tries to reduce costly imported oil products.
The work was raised during a meeting with the Nigerian National Petroleum Corporation (NNPC), a GE spokeswoman said late on Tuesday.
“We propose that work commences either with the Warri or Port Harcourt refinery as a pilot, as we set a target to improve the refinery capacity before the end of 2017,” GE told the NNPC, according to a statement from the state oil firm.
Nigeria’s Minister of State for Petroleum Resources, Emmanuel Ibe Kachikwu has said that Chevron and Total were also interested in working on the refineries.
GE and NNPC could also cooperate on national power projects, said the Nigerian firm.
Source: Business & Financial News, Breaking US & International News | Reuters
- Seven Energy Seeks Nigeria Partnership to Boost Gas
- Nigerian Law May Usher in Billion-Dollar Steel-Pipe Business
- Nigeria’s four refineries to resume production next month, says NNPC official
- Nigeria state oil group NNPC taps private sector for top ranks
- Nigeria proposes broad oil sector overhaul and potential NNPC stock exchange listing
- Buhari will release full audit on Nigerian National Petroleum Corporation (NNPC)
- President Goodluck Ebele Jonathan (“GEJ”) of Nigeria is clueless, incompetent, and callous: 35 reasons why this is a big lie
- GE books $2.5B in African orders from oil to locomotives, beating 2018 target by $500M
- Nigeria’s new oil chief Emmanuel Ibe Kachikwu announces restructuring & audit
- Nigeria’s fuel subsidy unsustainable: Emmanuel Kachikwu, Managing Director, NNPC
- Nigeria appoints former ExxonMobil Vice Chairman Emmanuel Ibe Kachikwu as Group Managing Director of state oil firm NNPC
- Returnee Amy Jadesimi in quest for bigger role in Nigeria’s energy industry
- Nigeria aims to end refined petroleum imports within 18 months, says Kachikwu
- Nigeria to break state oil firm NNPC into 30 companies
- Nigeria’s Buhari nominates Fashola, Amaechi as ministers
- Oando completes $1.65B acquisition of ConocoPhillips’ Nigerian assets
- Here are five key ministers in Nigerian President Buhari’s cabinet
- Oando moves to Nigeria’s top league with $1.5B ConocoPhillips deal
- Nigerian cabinet hints at austere rule
- Nigeria’s Buhari sends second batch of cabinet nominees to senate
- Nigeria’s ARM and South Africa’s Harith announce first close of $250M infrastructure private equity fund
- Aliko Dangote: In for the long haul
- Three Nigerian city clusters that will increasingly compete with Lagos
- How 42-year old Nigerian oilman Igho Sanomi built a commodities trading giant
- Resilient Africa is Investing $271M in shopping malls across Nigeria
- Nigeria’s Buhari should sell stakes in oil and gas joint ventures, says Seplat Chairman ABC Orjiako
- General Electric to invest $150 million in Nigeria
- Nigeria should curb president’s oil licensing powers, say lawmakers
- Nigeria’s president to split state oil company NNPC into two entities
- Nigeria’s Buhari submits cabinet nominees, announces he will serve as Petroleum minister
- France & Angola sign business deals from oil to hotels
- Nigeria’s Sahara to raise up to $1.4B in London & Lagos IPOs along with debut dollar bond sale
- African M&A deal volume at a seven year high, says Mergermarket
- Nigeria’s president fires the entire board of state-run oil company NNPC
- Nigeria’s former Power Minister Barth Nnaji’s Geometric Power partners with GE to build 1,080 MW plant in Nigeria
- Nigeria’s Transcorp on track for 850 MW capacity this year, says CEO Emmanuel Nnorom
- GE sees potential to double African revenue and employees in 5 years, says GE Africa President Jay Ireland
- In Africa’s oil capital, Africa’s richest man built an empire on sugar
- Shell appoints Osagie Okunbor as new Managing Director for Nigeria, replacing retiring Mutiu Sunmonu
- Nigeria’s Buhari asks head of country’s largest private equity firm to join cabinet