Senate halts Port Harcourt refinery concession to Agip

The Senate has asked the Ministry of Petroleum Resources to halt its effort to concession the Port Harcourt refinery to Agip and Oando.

The handover was to allow for the repairs and the operation of the facility.

The Senate said on Tuesday the process should be suspended pending amid concerns over the transparency of the process.

The Minister of Petroleum, Ibe Kachikwu, had on May 9 announced that the Nigerian Agip Oil Company, a subsidiary of the Italian oil giant, Eni, had committed to repairing the Port Harcourt refinery, as part of a $15 billion investment that includes building a 150 thousand barrels per day refinery and a power plant.

The plan was aimed at strengthening Nigeria’s drive to end fuel importation by 2019, Mr. Kachikwu said.

But following a motion by Mohammed Sabo, APC-Jigawa, on Tuesday, the Senate expressed worry with the process.

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