Refineries nnpc financiers negotiate abroad

It appears that you are referring to the Nigerian National Petroleum Corporation (NNPC) refineries and their financiers negotiating abroad. Here's a possible breakdown of the situation:

Background: The Nigerian National Petroleum Corporation (NNPC) is the state-owned oil company responsible for the exploration, production, and distribution of petroleum products in Nigeria. The corporation has four refineries located in Port Harcourt, Warri, and Kaduna, which have been facing challenges in recent years due to aging infrastructure, lack of maintenance, and inadequate funding.

Refinery rehabilitation: To address these challenges, the NNPC has been seeking financing and technical assistance from international partners to rehabilitate and upgrade its refineries. This includes negotiating with foreign financiers, contractors, and equipment suppliers to secure funding and expertise for the rehabilitation process.

Negotiations abroad: As part of this effort, NNPC officials have been engaging in negotiations with foreign financiers, contractors, and equipment suppliers in various countries, including:

  1. China: NNPC has been in talks with Chinese companies, such as China National Offshore Oil Corporation (CNOOC) and China Petroleum & Chemical Corporation (Sinopec), to secure financing and technical assistance for the rehabilitation of its refineries.
  2. United States: NNPC has also been negotiating with American companies, such as ExxonMobil and Chevron, to secure financing and technical assistance for the rehabilitation of its refineries.
  3. Europe: NNPC has been engaging with European companies, such as Total and Eni, to secure financing and technical assistance for the rehabilitation of its refineries.

Challenges and concerns: The negotiations have been ongoing for some time, but there have been concerns about the pace of progress and the terms of the agreements. Some of the challenges and concerns include:

  1. Funding: The cost of rehabilitating the refineries is estimated to be in the billions of dollars, which has raised concerns about the availability of funding and the terms of the financing agreements.
  2. Technical assistance: The NNPC has also been seeking technical assistance from foreign partners to upgrade its refineries and improve their efficiency. However, there have been concerns about the quality of the technical assistance and the level of expertise being provided.
  3. Environmental and social impact: The rehabilitation of the refineries has also raised concerns about the environmental and social impact of the projects, particularly in terms of the potential risks associated with oil spills and other environmental hazards.

Conclusion: The negotiations between NNPC and foreign financiers, contractors, and equipment suppliers are ongoing, and it remains to be seen whether the corporation will be able to secure the financing and technical assistance it needs to rehabilitate its refineries. The success of these negotiations will depend on a range of factors, including the availability of funding, the quality of the technical assistance, and the level of cooperation between the parties involved.