Africa

GE proposes investment in Nigerian oil refineries

Nigeria news

General Electric has proposed investing in Nigeria’s oil refineries.

The move could be made using a consortium of firms to improve capacity at the run-down facilities.

The plans are similar to promises from company’s like Eni to work with the African country to rehabilitate the country’s three oil refineries.

It could help the government as it tries to reduce costly imported oil products.

The work was suggested during a meeting with the Nigerian National Petroleum Corporation.

A spokeswoman for GE said: “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.”

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.

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