Unknown gunmen attacked the pipeline run by Royal Dutch Shell in February, reducing Nigeria's oil output by some 250,000 barrels a day.
Kachikwu also said Africa's top crude producer hoped to sign by July agreements with foreign partners to overhaul its three outdated refineries in Port Harcourt, Warri and Kaduna.
State oil firm NNPC started this week a tender to attract investors for the refineries, while also continuing talks with U.S. major Chevron, France's Total and Italy's ENI.
"We expect that to last for about 12 months," he said, referring to deals NNPC hopes to sign. "And we expect that by 2017 we should have all the refineries back where ... (they) ought to be."
NNPC has been trying to restart the refineries, which have been out of work due to years of mismanagement, to help overcome chronic fuel shortages.
Nigeria relies on fuel imports but is struggling to find the dollars to fund them due to a slump in oil revenues.
"The refineries ... they are back, Port Harcourt, Warri have been supplied crude," Kachikwu said. "We are also pumping to Kaduna and so by end of the May they will work."
Nigeria has given several dates for the resumption of the refineries.
Kachikwu also said the OPEC member had last week seen 11 cargoes bringing in petrol, while ten more would arrive this week to ease shortages.
The refinery revamp is part of reforms started by President Muhammadu Buhari who appointed Kachikwu last year to overhaul NNPC, whose opaque structures have allowed corruption and oil theft to flourish
In February, Kachikwu told Reuters NNPC was also in talks with oil companies and banks to raise capital for new drilling and to repay its debt.
"We expect that to last for about 12 months," he said, referring to deals NNPC hopes to sign. "And we expect that by 2017 we should have all the refineries back where ... (they) ought to be."
NNPC has been trying to restart the refineries, which have been out of work due to years of mismanagement, to help overcome chronic fuel shortages.
Nigeria relies on fuel imports but is struggling to find the dollars to fund them due to a slump in oil revenues.
"The refineries ... they are back, Port Harcourt, Warri have been supplied crude," Kachikwu said. "We are also pumping to Kaduna and so by end of the May they will work."
Nigeria has given several dates for the resumption of the refineries.
Kachikwu also said the OPEC member had last week seen 11 cargoes bringing in petrol, while ten more would arrive this week to ease shortages.
The refinery revamp is part of reforms started by President Muhammadu Buhari who appointed Kachikwu last year to overhaul NNPC, whose opaque structures have allowed corruption and oil theft to flourish
In February, Kachikwu told Reuters NNPC was also in talks with oil companies and banks to raise capital for new drilling and to repay its debt.

No comments:
Post a Comment