Nigeria: Yar’Adua Tasks NNPC On Refineries’ Production Level

PRESIDENT Umaru Yar’Adua, yesterday, gave the Nigerian National Petroleum Corporation (NNPC) the marching order to raise the production level of the nation’s refineries by at least 70 per cent by the end of this year.

He spoke to reporters at the Murtala Muhammed Airport, Ikeja on a day a report by Goldman Sachs indicated that crude oil prices might hit the $100 per barrel mark by December should the Organisation of Petroleum Exporting Countries (OPEC) maintain output at current levels.

Yar’Adua, who was on his way back to Abuja after a day stay in Lagos, said: “The NNPC will bring the refineries to a minimum of between 70 per cent and 80 per cent production by the end of the year.”

Only last week, Bluestar Consortium which won the bid to buy the Port Harcourt and Kaduna Refineries withdrew.

allAfrica