GE in talks on oil re­finer­ies

The Star Early Edition - - BUSINESS REPORT -

GEN­ERAL Electric (GE) has pro­posed in­vest­ing in Nige­ria’s oil re­finer­ies, po­ten­tially con­ven­ing a con­sor­tium of com­pa­nies to im­prove ca­pac­ity at the run-down fa­cil­i­ties. GE’s plan and sim­i­lar prom­ises from com­pa­nies such as Italy’s Eni to work with Nige­ria to re­ha­bil­i­tate the coun­try’s three oil re­finer­ies could help the gov­ern­ment as it tries to re­duce costly im­ported oil prod­ucts. The work was raised dur­ing a meet­ing with the Nige­rian Na­tional Petroleum Cor­po­ra­tion (NNPC), a GE spokesper­son said late on Tues­day. “We pro­pose that work com­mences ei­ther with the Warri or Port Har­court re­fin­ery as a pi­lot, as we set a tar­get to im­prove the re­fin­ery ca­pac­ity be­fore the end of 2017,” GE told the NNPC. The NNPC said it also might co-op­er­ate with GE on na­tional power projects.

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