3 Of Nigeria's Refineries To Start Production

-

Three of Nigeria's four refineries have resumed production and are performing at between 60 and 80 percent of their installed capacities, state-run oil firm NNPC said (AFP Photo/Pius Utomi Ekpei)
Abuja (AFP) - Three of Nigeria's four refineries have resumed production and are performing at between 60 and 80 percent of their installed capacities, state-run oil firm NNPC said Wednesday.
The Nigerian National Petroleum Corporation (NNPC) said in a statement that the refineries -- largely moribund for several years -- have commenced preliminary production of petroleum products after test runs in the southern oil cities of Port Harcourt and Warri.
While the two joint refineries in Port Harcourt are ramping up operation to about 60 percent of their 210,000 barrels per day (bpd) capacity, their Warri counterpart is projected to hit 80 percent of its installed 125,000 bpd capacity, the statement said.
The NNPC said that the phased rehabilitation of the refineries started last October, adding that a fourth, the 110,000 bpd capacity Kaduna refinery, was expected to come on stream "soon".
The nation's four refineries have a combined installed capacity of 445,000 bpd.
Nigeria produces a massive two million barrels of crude oil a day, but has to export it due to a lack of working refineries.
It then imports fuel back into the country at international market prices -- a situation blamed on corruption and mismanagement.
To cushion the blow on the general population, the government sells fuel on the streets at subsidised prices, and makes up for the higher amounts spent by importers by reimbursing them the difference -- a system seen as rife with false claims and overpayments.
In January 2012, the government tried to end the subsidies, causing petrol prices to more than double.
It was ultimately forced to reinstate the payments after tens of thousands of people took to the streets in violent protests that left more than a dozen dead.
It is hoped that the resumption of refinery activity will improve the supply of fuel in Africa's largest oil producer and allow the country to make savings on refined fuel and other petroleum products.

Comments

Post a Comment

Popular posts from this blog

How Technology Is Killing Eye Contact

-
Image
    Christen had an alarming wake-up call one day about the toll that technology was taking on her life -- and her family. "I realized several years ago that I had stopped looking in my children's eyes," the HopeLab President and CEO said at a Huffington Post panel at Ad Week on Tuesday . "And it was shocking to me." Christen's "a-ha" moment was an alarming one, but it's more common than you might think -- and it points toward a larger, and often undiscussed, byproduct of excessive screen time. The decline of eye contact is well-documented , and as we spend more and more of our time staring at screens, there's less time left over to look into people's eyes -- including the eyes of the people we care about most. Between staring at computers during the work day and regularly gazing down at our phones, Americans spending more time with their eyes glued to their screens than ever before. According to recent estimates ,
Read more

Was Bobbi Kristina Used for Illuminati Satanic Blood Sacrifice?

-
Image
Bobbi Kristina died on Sunday age 22 six months after she was found face down and unresponsive in the bath-tub of the Roswell, Georgia, home she shared with then boyfriend, Nick Gordon, 25. Gordon is now a person of interest to investigators attempting to piece together the events that led to Bobbi Kristina’s untimely death. But according to TMZ, he has still written to Bobbi Kristina’s father and Pat Houston begging for permission to attend the funeral service. The email states: ‘I loved Krissi with all my heart and I am destroyed that she is gone and I need to say goodbye. ‘Krissi loved me very much and she would want me there’. The chances of him being accepted by the family are, however, slim to none. The Houston family has slapped him with a $10million lawsuit alleging that he abused her and stole her money while she was in a medically induced coma. While Gordon has been a figure of controversy with Bobby Brown banning him first from his daughter’s hospital bedsi
Read more

Rainbow Fm apologize to the Public for bringing false report on Iyabo Obasanjo

-
Image
  Below is the excerpt of the document: "PRESS RELEASE We at Rainbow F.M 94.1 appreciate and respect our audience. Our content is anchored on the principles of fairness, objectivity, Balance and Accur acy. We recognise that this noble practice requires professionalism, and this is the reason we will leave no stone unturned in informing, educating and entertaining you. We are aware of the falsehood that trailed the December 18th, 2013 edition of the Newspaper Headlines and Editorials anchored by Wellington Olaiya, Theophilus Elamah and Dr. Nick Idoko (on the Rainbow Morning Show) We condemn it At NO TIME on the said date did IYABO OBASANJO, daughter of Ex-President Olusegun Obansanjo, visit, call or make any contact on the show, or with any of the presenters. While we acknowledge the efforts of other practitioners in the development process of this country, we appeal to all media organisations to adhere strictly to ALL THE ETHICS of this whole profession. God b
Read more