Saudi Arabia to build refinery in Nigeria – TheNigerialawyer

Saudi Arabia has hinted on the possibility of establishing a
refinery in Nigeria.

Minister of Energy Industry and Mineral Resources of the Kingdom
of Saudi Arabia, Khalid Al Falih dropped the hint during a meeting
with Nigeria’s Minister of State for Petroleum Resources, Ibe
Kachikwu in Riyadh.

Kachikwu who affirmed the Saudi oil minister’s position said
Nigeria was looking towards Saudi Arabia because of the country’s
successes in the sector.

“We want to leverage on the huge success of Saudi government in
terms of petroleum. Last year alone Saudi Aramco, an equivalent of
NNPC made about $200 billion as profit.

“We have a lot of common ground, historical ties, and religious
ties and there’s a need to move further. We cooperate a lot with
one another in OPEC especially in the Ministry of Energy,” Kachikwu
said.

He said Nigeria is already setting up a team to make the reasons
for the visit a reality.

A statement from Nigeria’s oil ministry, Kachikwu had on Tuesday
met with top executives of Saudi Aramco in Dhahran to crystallize
ongoing discussions on collaborating with the Federal Government of
Nigeria on investments in the oil and gas sector.

The minister was received by the President and Chief Executive
Officer of Saudi Aramco, Amin H. Nasser and the top management of
the conglomerate.