Dr. Emmanuel Ibe Kachikwu, GMD, NNPC |
According to
Dr. Kachikwu, who is a Harvard-trained petroleum and investment lawyer, NNPC is
working to get the refineries across the country to work to their optimal
production with new business modules.
In his own
words: “What is obtainable is that most of our
refineries are close to 30 to 40 years old. We need to begin to look at
building new refineries in the same land space where they can share facilities
so that you will have something to lean on when these old ones are beginning to
kick out. Obviously, we need new modules. Three out of the six units of the
plants are down. Some of them have stayed for a very long period. We need to
sit down and see what modules; how do you turn around the new refineries; how
do you work on emergency basis components of the ones that are there.
“Kaduna
has a very unique place in my heart like I said because I grew up in Kano and I
used to come here often. It is very important for the survival of the economy
of Kaduna State and the rest of the North and we really need to focus on
getting these things to work and getting them to expand. Without them, we are
not going to get out of problems of fuel supply, power supply and all that. So,
we are going to have a whole commercial structure, a whole engineering
structure; a lot needs to be done different from models we are pursuing right
now.”
The NNPC boss,
who is a petroleum and investment law expert, stated that his management team was
devoted to ensuring that within the next 90 days, some elements of the KRPC
plant would work the way they would be expected.
Yes, the
Doctor of Philosophy in Petroleum and Investment Law strategies equally spoke
on the security of the pipelines. He said: “As you are
aware that we are working with the security forces to enhance the Warri to Kaduna
points and they have been tested now for integrity and I think by my
understanding for the last testing, it is fairly okay now to take control if
the FCC units are working. So, on a short-term basis, we have been able to deal
with that medium-term basis; we are going to work with the security agencies to
ensure that the sort of destruction you find on pipelines not just from Warri
to Kaduna, but the whole country, becomes a thing of the past.”
Speaking on
the issue of crude oil swap deals, Dr. Kachikwu said that the essence of the
cancellation was that the company was saving over $200m.
In his own
words: “Even though we have cancelled swap, you are
going to have replacement swap contracts lined along very efficient and very
transparent processes that will save us a lot of money.”
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