Dear Editor,THIS article was published by Economic Intelligence Unit on July 25, 2013.Ambitious plans for the Indeni Oil RefineryAn equity partner will be sought to take a 49 percentage stake in the Indeni Oil Refinery, where the government also wants to build additional capacity at a projected cost of US$410m.AnalysisThe cabinet’s approval of a plan to sell a stake in the country’s sole petroleum refinery underlines an acceptance in government of the need to expand refining capacity and secure strategic national fuel reserves.It is also a step towards sharing the technical and financial burden of operating the loss‑making facility, after Total, a French oil major, divested its 50 percent shareholding over two years ago.The 24, 000‑barrel/day refinery has in recent years faced repeated shutdowns because of ageing machinery and systems failure.Similar plans by the previous government failed because of the lack of a clear road map towards a sale and uncertainty over the role of […]
HOW TO SAVE INDENI REFINERY
