Nigerian State, NNPC Plan New Oil Refinery

Nigeria’s southern state of Imo and national oil company NNPC are planning to build a new oil refinery in the area.

The Imo state government is to go into a strategic partnership with NNPC to establish a greenfield refinery, according to Reuters.

Nigeria faces power crisis due to poor condition of its refineries, despite being Africa’s largest crude oil and gas producer.

In May 2010, NNPC and China State Construction Engineering Corp sought $23bn in funding to build three refineries and a fuel complex to add 750,000 barrels per day of extra refining capacity.