The Nigerian National Petroleum Corporation (NNPC), Wednesday, stated that it has commenced the unbundling of the Pipelines and Products Marketing Company, PPMC, into three different companies — a storage, pipelines and products marketing companies.
Group Managing Director of the NNPC, Dr. Emmanuel Kachikwu, stated this during a tour of the Okrika Jetty and the Port Harcourt Refining Company (PHRC) Limited.
He also disclosed that the countries’ refineries would not be sold but joint venture partners with established track records of success in refining would be invited to support the running of the refineries in order to ensure efficiency.
He added that the ongoing phased rehabilitation of all the state-owned refineries would be given an accelerated vigour with the aim of reducing petroleum products importation into the country, adding that at full capacity, all the refineries could supply only 20 million litres of premium motor spirit otherwise known as petrol on a daily basis.
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