The Nigerian National Petroleum Company Limited has set stringent financial requirements for companies vying to operate and maintain the Warri Refining and Petrochemical Company and Kaduna Refining and Petrochemical Company.
In the Expression of Interest document released by NNPC on Saturday, only firms with a minimum average annual turnover of $2bn will qualify for the bidding process, as the national oil company stressed that the bidders must be debt-free.
NNPC said the successful bidders must possess the technical expertise and financial strength to effectively manage the refineries and secure a steady supply of petroleum products to meet national energy security needs.
The EOI document highlights the eligibility criteria that interested firms must meet, with the $2bn minimum turnover being a key criterion.
This, it said, demonstrates NNPC’s commitment to attracting financially capable and technically proficient companies.
“NNPC is determined to engage reputable and credible Operations & Maintenance companies to operate and maintain the Warri and Kaduna refineries,” the document stated.
“These companies must have the financial wherewithal to manage these complex facilities, ensuring their reliability and sustainability to meet the nation’s fuel supply and energy security obligations.”
