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AGIP to build ‘150,000BPD’ refinery
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AGIP to build ‘150,000BPD’ refinery

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The Nigerian government and Italian oil giant, Agip, have reached an agreement for the firm to build a new refinery in the country.

Minister of State for Petroleum Resources, Ibe Kachikwu, said the refinery with 150,000 barrels refining capacity, will be located in Port Harcourt or Brass.

Already a Memorandum of Understanding has being prepared, as the firm builds the second largest power plant, which will come on stream by 2020.

The minister says the company’s total investment in power and the refinery was in excess of $15bn.

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