The Minister of State for Petroleum Resources, Ibe Kachikwu, said the Nigerian Government was looking at the possibilities of having the Kingdom of Saudi Arabia build a refinery in Nigeria.
Kachikwu disclosed this at a Bloomberg Daybreak: Americas’ on the sidelines of the Financial Sector Conference in Riyadh, Saudi Arabia.
The minister said the four refineries have a combined installed capacity of 445,000 barrels per day but have continued to operate far below the installed capacity for many years.
He added that the country is looking for a straight trade deals and wants Saudi Arabia to bring in products .
As part of its drive to become world’s largest integrated energy firm,Aramco is expanding the downstream operations in refining and petrochemicals production.