Port Harcourt Refinery: Kachikwu And Tinubu Clash

The Minister of State for Petroleum Resources, Ibe Kachukwu has clashed with the Group Chief Executive of Oando PLC, Mr. Wale Tinubu, over alleged planned concessioning of Port-Harcourt refinery.

Both men met on Thursday during a one-day Public Hearing of the Senate on the way forward for the oil sector.

The Minister, who appeared before the Senator Abubakar Kyari-led ad hoc Committee on the Planned Concession of the Refinery rebuffed Tinubu and disowned statements credited to the latter which implied that his company (Oando) has been granted concession for the Port Harcourt refinery.

Although Wale Tinubu also denied ever making any remark in the media on alleged concession of Port Harcourt refinery to the oil company by the federal government, he vehemently maintained his stand that the refinery has been packaged for Oando’s rehabilitation.

After accusation and counter accusation between the two, the Senate and the federal agencies handling the nation’s oil refineries on alleged move to concession the Port Harcourt Refinery, all parties settled for revamping, rehabilitation and maintenance of the refinery along with others through what they termed, sourced financing from private oil firms.

Speaking further on the state of the refinery, Kachikwu who noted that $300 million would be required to repair it, said that it was better to engage the company that built the refinery in the first instance for its repairs, due to the availability of spare parts and knowledge of the configuration, adding that the country’s refineries were being run and maintained by Nigerian engineers, and acknowledged that there was the urgent need for constant retraining of the engineers.

By Chijioke Jannah

No Plans For N5 Fuel Increase – Kachikwu

Minister of State for Petroleum Resources, Ibe Kachikwu, ​says it was shameful that the country has continued to import finished petroleum products.

Noting that this has to stop, Kachikwu assured that the Federal Ministry of Petroleum Resources was committed to​ putting the situation to an end.​.

The minister, ​who said this ​in a series of tweets on Tuesday, also cleared the air on reported imminent fuel hike.

Kachikwu said, “State of Refineries: It is shameful that we’ve continued to import finished products. We need to stop. We are committed to this.

“On PMS cost and possible increase: There is no consideration that is currently on the table. We hope to remain within N145 band.

“Subsidy Regime: Upfront subsidy payment has been obliterated. What we have currently are differences being picked by @NNPCgroup.

“Recently passed Petroleum Industry Governance Bill: I’ve studied it and it is impressive. It captures aspirations for @NNPCgroup.​”​

By Wale Odunsi

Kachikwu Explains Why There Won’t Be Open Bidding For Refineries

The Minister of State for Petroleum Resources, Ibe Kachikwu said refineries repair cannot be done in an open bidding process. 

Speaking to Daily Trust in Vienna, Austria yesterday at the ongoing 172nd OPEC meeting, Kachikwu said refineries concession “Is a highly technical area, what we have done is to invite those who have experience in refining, but it’s open, anybody who feels he has the skills and has the money is welcome. It is not just about the skills but the money too.

“Remember, we don’t have the money, and what we call them in is to rebuild, help us manage and recoup their money from the incremental production and that is ongoing, it has not been decided, the entire three refineries are up on the refurbishing scheme.”

Responding to the alleged bias in the selection process of the AGIP and OANDO Plc as partners to operate the Port Harcourt Refinery and Petrochemical Company, Kachikwu said final decision on the refineries has not been reached.

He said the Federal Government has decided to concession all four refineries in the country by August this year saying, “We hope to award the contracts by July/August and hopefully between 12 to 18 months to be able to get the refineries fully back, and the model is to bring investors, who will repair the refineries and they recoup their money from the incremental production. 

“We are ready to offer all the three refineries for investors who have money to repair and manage.

“People keep mentioning AGIP and OANDO Plc but nobody has made the final decision on those, they are probably the front runners because they put a lot of work on that but I am not in the technical committee, I am the chair of the steering committee, when the technical committee meet and finish their work, they will refer it to the steering committee and then it goes to NNPC Board, so all the hullabaloo about the transparency, there is no basis for that.”

By Hamisu Muhammad

Buhari Still Holds Meetings In London – Kachikwu

The Minister of State for Petroleum, Ibe Kachikwu on Monday disclosed that President Muhammadu Buhari has been holding meetings with top government functionaries and playing some roles despite being on medical vacation in London.

Featuring on BBC Hard Talk, Kachikwu said Buhari was still capable of issuing policies and approving projects when necessary.

According to Kachikwu, the President’s health makes little or no difference in running his administration.

“Yes, he is in London. He is undergoing hospital treatment, (but) I don’t know the details of that and I obviously wouldn’t know.

“But let me say this, he returned from his first trip in London, even though the doctors advised him to have some rest.

“He’s back to London and he has continued some levels of meetings and has been able to play some roles.

“He has a very efficient Vice-President who is sitting in for him in his absence. It really hasn’t made much of a difference.”

Responding to a question on what is wrong with Buhari, Kachikwu said, “I don’t know. But let’s face it; who in the world goes around giving to everybody what their medical statuses are?

“The doctors have got to be able to release something official and he’s working through it. It has not become a major problem.

“Well, we’ve heard rumours in Nigeria about sick presidents off and on, most of them sometimes not quite correct. Will he be able to lead Nigeria?

“I think looking at the sort of conversations I had with him when he came back, he was strong enough to do his work, struggled a bit in terms of trying to fully recover.

“Nobody plans on illness, it happens. He has an efficient number two man; the system works, that’s the whole essence of democracy.

“He’s on top of his abilities to be able to issue policies and to be able to approve what he needs to be approved.”

This is coming at a time when a British politician and former military officer, Eric Stuart Joyce insisted that Buhari is dead.

By Seun Opejobi