The Saudi Arabian Minister of Energy Industry and Mineral Resources, Khalid Al Falih has hinted on the possibility of his country establishing a refinery in Nigeria.

Khalid Al Falih dropped the hint on Wednesday during a meeting he held with Nigeria’s Minister of State for Petroleum Resources, Ibe Kachikwu in Riyadh, the country’s capital.

Confirming the Saudi Oil Minister’s position, Kachikwu said the Nigerian government was looking towards Saudi Arabia because of the successes the Asian nation has achieved in the petroleum sector.

“We want to leverage on the huge success of the 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.

According to a statement from Nigeria’s petroleum ministry, Kachikwu had on Tuesday met with top executives of Saudi Aramco in Dhahran to crystallize ongoing discussions between both countries on possible investments in the oil and gas sector.