President Muhammadu Buhari on Friday expressed his dissapointment that no refinery in the country is currently performing up to optimum level. Buhari described the situation as disgrceful, noting that while he was a Military Head of State, all refineries were working.
The President said this while receiving a delegation from Eni, led by the Chief Upstream Officer, Antonio Vella, at the Presidential Villa, Abuja. This was contained in a statement signed by his Special Adviser on Media and Publicity, Femi Adesina. The president also disclosed that the income accruing to the country from rising oil prices in the international market will be spent on infrastructural development.
Buhari also appreciated Eni for its upcoming investments in the oil industry, which included rehabilitation of Port Harcourt refinery, and the building of a new one. In his remark, Vella, said his organization has presented a technical proposal to the NNPC to rehabilitate the Port Harcourt refinery, and also done a feasibility study on a new refinery of up to 150,000 barrels per day capacity.
The oil company also plans to double power generation capacity from its plant in Delta State from its present 500 MW to 1,000 MW, spending $750 million in the process.
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