US oil group ChevronTexaco to build refinery in Nigeria

0 Comments | AFP, April, 2005

ABUJA (AFP) — US oil giant ChevronTexaco is to build an oil refinery at its Escravos facility in Nigeria's oil-rich Niger delta, the boss of state-run Nigerian National Petroleum Corporation (NNPC) said.

Funsho Kupolokun told reporters the government has already approved the 30,000 barrels per day project to be located at ChevronTexaco's oil terminal at the mouth of the Escravos River in Delta State.

No date has been fixed for the signing of the project expected to be completed within one year after the signing ceremony, he said.

He said the project will be jointly financed by NNPC and ChevronTexaco under a joint venture partnership.

Nigeria currently has four oil refineries, but depends on massive imports to meet local demands for fuel, diesel and...