Skip to main content

No refinery has produced petrol for 8 months- NNPC

By

No drop of petrol or kerosene was produced by any of the refineries under the management of the Nigerian National Petroleum Corporation for eight straight months.

Latest figures released by the NNPC on refined white products (petrol and kerosene) from local refineries showed that from June 2019 till January 2020, the facilities refined none of the identified finished products.
It was further observed that the last time the refineries produced Premium Motor Spirit, otherwise called petrol, was in May last year.
The same scenario also applied in the production of Dual Purpose Kerosene, often referred to as kerosene, as the last time it was refined by the facilities was in May 2019.
Refineries under the management of the NNPC are the Kaduna Refining and Petrochemical Company, Port Harcourt Refining Company and Warri Refining and Petrochemical Company.
An analysis of the figures should that in January, February and March 2019, the refineries produced 45.5 million litres, 44.1 million litres and 44.1 million litres of petrol respectively.
Also, in the same first three months of last year, they jointly produced 36 million litres, 36.1 million litres and 38.2 million litres of the DPK respectively.
But in April last year, their production of the PMS and the DPK crashed to zero, meaning that they refined no white product in that month.
In May 2019, they produced 9.1 million litres of petrol and 4.9 million litres of kerosene.
But from June last year till January 2020, no drop of petrol or kerosene was produced by the refineries, as they recorded zero all through the eight-month period.
Explaining what prompted the dormancy in terms of petroleum products refining, the NNPC said, “No white product was produced in January 2020 and apparently for the past seven consecutive months.



“The lack of production is due to ongoing rehabilitation works at the refineries.”
But stakeholders in the oil sector faulted the never-ending rehabilitation of Nigeria’s refineries and had called on the government to privatise the facilities.
Recently, a consortium of about 15 civil society organisations asked the Federal Government to privatise the refineries.
According to the groups, this will help the government as it currently struggles to manage the Nigerian economy following the impact of the COVID-19 pandemic on crude oil price globally.
CISLAC, BudgIT and 13 other organisations disclosed this in a recommendation released after their meeting on developments in Nigeria’s oil sector.
They said, “As a matter of urgent national importance, we strongly support the call for the privatisation of the country’s refineries in their present condition to avoid further revenue losses.
“We encourage the government to adopt favourable fiscal terms that bring about a renewed investors’ confidence and help fast-track the 29+ refineries, which still have valid operating licenses.”

Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

Breaking! 44 Suspected Boko Haram members found dead in Chadian prison

By
44 suspected members of Boko Haram were found dead in a prison in Chad's capital city of N'Djamena on Saturday April 18. Autopsies conducted on the late suspected terrorists revealed that they ingested a substance which caused heart and breathing complications, according to the Chadian government. Chad's chief prosecutor Yousssouf Tom who confirmed the death on national television, said the suspects were arrested during a recent operation against Boko Haram carried out near Lake Chad.  Tom said;  “Following the fighting around Lake Chad, 58 members of Boko Haram had been taken prisoner and sent to Ndjamena for the purposes of the investigation.  “On Thursday morning, their jailers told us that 44 prisoners had been found dead in their cell.  “We have buried 40 bodies and sent four bodies to the medical examiner for autopsy.” A security source speaking on condition of anonymity  countered the chadian government'...
Post a Comment
Read more

Nigeria records 681 new cases of COVID-19 as death Toll rises to 387

By
Nigeria records 681 new cases of #COVID19, equalling the total number of confirmed cases to 14,554 as death toll rises to 387 with 4,494 fully  recovered and discharged as at 11 June, 2020 Lagos-345 Rivers-51 Ogun-48 Gombe-47 Oyo-36 Imo-31 Delta-28 Kano-23 Bauchi-18 Edo-12 Katsina-12 Kaduna-9 Anambra-7 Jigawa-5 Kebbi-4 Ondo-4 Nasarawa-1 Total of: 14,554 cases of #COVID19Nigeria 4,494 discharged 387 deaths
Post a Comment
Read more

Breaking News: 39.4 million Nigerians will be jobless by the end of the year - FG

By
The Federal Government has raised the fear that except something urgent is done, about 39.4 million Nigerians may be jobless by the end of the year as a result of the impact of the COVID-19 pandemic. It also expressed the fear that millions more may slide into extreme poverty before the pandemic ends.  Vice-President Yemi Osinbajo painted the gloomy picture on Thursday while presenting the report of the Economic Sustainability Committee to the President, Major General Muhammadu Buhari (retd.).  Buhari set up the committee on March 30, 2020 in response to what was then becoming a threat of the most severe economic downturn in the country’s history, largely caused by the pandemic. Its terms of reference include to develop a clear economic sustainability plan in response to challenges posed by the COVID-19 pandemic and to propose monetary policy measures in support of the plan.  Others are to provide a fiscal/monetary stimulus package, including support to private businesses...
Post a Comment
Read more