Nigeria’s Refineries Dormant, Some Producing Below 30% - NNPC
One cannot say for sure how much money has gone into making Nigeria’s refineries to work.
But it has now come to light that despite the huge investments, the refineries remain moribund while some that are functioning at all, perform at an abysmal 30% capacity.
The latest monthly oil and gas report released by Nigerian National Petroleum Corporation, NNPC showed that the cumulative capacity utilisation of the nation’s three refineries dropped further from 12.73% in June to 11.94% in July 2017.
On individual performance, the Kaduna Refining and Petrochemical Company produced nothing at all for the two consecutive months as it processed no crude oil in the period under review.
Other refineries, Port Harcourt Refining Company, PHRC and Kaduna Refining and Petrochemical Company, also performed far below expectation.
While the Warri Refinery moved up marginally in its performance, processing 1.87% of crude oil in July, as against the zero output it recorded in June, the PHRC’s capacity utilisation dropped from 26.98% in June to 24.18% in July.
Going by the data provided by the NNPC, none of the refineries were able to perform up to 30%, as none of them could utilise up to half of the crude oil allocated to them in July this year, as had been the case in many other preceding months.
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