Saudi Arabia wants to build a refinery in Nigeria

Saudi Arabia wants to build a refinery in Nigeria

There is a possibility of Saudi Arabia building a refinery in Nigeria after a meeting between Khalid Al Falih and Ibe Kachikwu in Riyadh.

There is a possibility of Saudi Arabia building a refinery in Nigeria after a meeting between Khalid Al Falih and Ibe Kachikwu in Riyadh.
Khalid Al Falih is Saudi Arabia’s Minister of Energy Industry and Mineral Resources. He recently had a meeting with Nigeria’s Minister of State for Petroleum Resources, Ibe Kachikwu where he dropped an hint on the possiblity of building a refinery. Kachikwu however affirmed the Saudi oil minister’s position and said Nigeria was looking towards Saudi Arabia due to 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 also revealed 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.

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