Saudi Arabia Hints On Building Refinery In Nigeria

By April 26, 2019 Investment News

Top crude oil producer Kingdom of Saudi Arabia has hinted on the possibility of establishing a refinery in Nigeria.

Concise News understands that Khalid Al Falih, the Kingdom’s Minister of Energy Industry and Mineral Resources, dropped the hint during a meeting with Nigeria’s Minister of State for Petroleum Resources, Ibe Kachikwu, in Riyadh.

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“We want to leverage on the huge success of Saudi government in terms of petroleum. Last year alone Saudi Aramco, an equivalent of NNPC, made about $200 billion as profit,” Kachikwu said.

“We have a lot of common ground, historical ties, and religious ties and there’s a need to move further. We cooperate a lot with one another in OPEC especially in the Ministry of Energy.”

Kachikwu, according to a press release from the ministry of petroleum, had on Tuesday met with top executives of Saudi Aramco in Dhahran to crystallize ongoing discussions on collaborating with the Nigerian government on investments in the oil and gas sector.


Source: Concise