SEO Riders:
– NNPC seeks seasoned industry partner to revive its commercially struggling refineries
– Technical review reveals 50,000 bpd input yielding under 40 % output yields unsustainable losses
– Ojulari stresses sustainable model over political pressure amid calls for reform
NNPC Group CEO Bayo Ojulari revealed that the company is exploring a partnership with a professional refinery operator to address deep-rooted inefficiencies within Nigeria’s state-owned refineries. The decision follows a technical assessment and commercial review of the Port Harcourt Refinery, indicating chronic losses of ₦300 million to ₦500 million per month and operational inefficiencies—only achieving under 40 % output from 50,000 barrels per day input. Ojulari emphasized that no political pressure influenced the move, which seeks a sustainable and profitable model for refinery operations.
