Nigeria to announce private investors in refineries March 2018

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Nigeria plans to announce the private investors in refineries in the coming month, its junior oil minister said on Monday.

Emmanuel Ibe Kachikwu said he wants Nigeria to have a floating production storage and offloading (FPSO) unit for the production and processing of hydrocarbons, and for the storage of oil in 10 years.

Nigeria’s refining system means it is almost wholly reliant on imports for the 40 million litres per day of gasoline it consumes.

(Reporting by Paul Carsten – Reuters)