‘Nigeria has capacity to refine one mbpd of crude oil by 2017’
. Industry chiefs laud Marinho on 80th birthday
NIGERIA’s petroleum refining capacity may hit one million barrels per day (bpd) by 2017, going by the projection of industry operators.
This projection was brought to the fore yesterday during the 80th birthday anniversary dinner organized for the first Group Managing Director, of the corporation, Chief Festus Marinho, in Lagos.
Among the stakeholders that showered encomiums of the industry chief was the former General Manager, Warri Refinery and Petrochemical, Babajide Soyode, who expressed optimism that the country can boost its crude oil refining capacity to one million barrels per day by 2017.
He said: “We now have about 445,000 barrel per day capacity in our four refineries, while Dangote is also putting up 500,000 barrel per day refinery in Lekki which is expected to come on stream by first quarters of 2018.
“There are several plans by government for small refineries to come on stream by 2017.
“If all these are added together we will have about one million barrels per day refining capacity, I also presumed that NNPC is planning to upgrade its refineries by increasing the capacity and modernising the technologies, they have the potential of doubling the capacity from 445,000bpd to 900,000bpd,” he said.
Soyode said making the refineries competitive is the only way for NNPC to achieve its improvement target on refine petrolum products in Nigeria.
According to him: “Other smaller refineries like Niger Delta Petroleum Resources are also producing about 1000 barrel per day refinery which is also planning to upgrade to 6,000 bpd to produce the full grade.
Former Group Managing Director, NNPC, Funsho Kupolukun, said that the celebrant played a vital role in Nigeria’s oil industry, adding that his principles and immense contribution remains the driven force of NNPC.
“Marinho is a father of the industry, the man is highly transparent, local committed and focused.
“Marinho has contributed immensely to the growth of the of oil and gas industry, he gets things done effectively not like now when petroleum industry bills has been pending for over 12 years,’’ he said.
Chairman, Chairman, Akintola Williams Deloitte company, Mr Akintola Williams, said that the gathering has demonstrated that Marinho is an icon of the oil and gas industry.
Williams said that the Marinho deserved what his getting today from his friends and loved one.
. “I urged all you young one to emulate Marinho uprightness, obedient, efficiency and commitment to his father’s land.