Nigeria signs a new oil deal , A spokesperson for the Nigerian government disclosed on Thursday that the Nigerian National Petroleum Company Limited (NNPC) just finalized a deal with Daewoo Group of South Korea to rehabilitate the Kaduna Refinery.

Nigeria signs a new oil deal with South Korea

Nigeria signs a new oil deal , A spokesperson for the Nigerian government disclosed on Thursday that the Nigerian National Petroleum Company Limited (NNPC) just finalized a deal with Daewoo Group of South Korea to rehabilitate the Kaduna Refinery. The spokesperson noted that the president of Nigeria, President Muhammadu Buhari, approved the signing which took place on the sidelines of the 2022 World Bio Summit on Thursday in Seoul, South Korea. Nigeria signs a new oil deal , Nigeria currently imports its finished fuel products, despite having a number of refineries.

The Kaduna refinery has the capacity to produce 110,000 barrels per day and stands as one of the four dormant refineries in the government’s possession. During the signing, the president of Nigeria gave his remark, Nigeria signs a new oil deal , noting that he understands how admirable the competence of the partner company is. Currently, the biggest state refinery is in Port Harcourt, and as the Kaduna refinery would soon be, it is, at this moment undergoing repairs by Tecnimont of Italy. The government says it expects the plant to start production by December. The Federal Executive Council in August last year approved the award of the contract for the rehabilitation of Warri and Kaduna Refineries at the combined total sum of $1.5 billion.

Source: This news is originlly published by businessinsider

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