NNPC sets 24-month target for rehabilitation of refineries

234Next

23 May 2011

NNPC sets 24-month target for rehabilitation of refineries

The federal government has set itself a two-year target to complete rehabilitation work on the country’s three refineries for maximum efficiency, NEXT has learnt.

[Note:  There are four – 2 in Port Harcourt -- the Old Port Harcourt Refinery (OPHR) with a processing capacity of 60,000BPSD and the New Port Harcourt Refinery with processing capacity of 150,000 BPSD. The combined total refining capacity of the complex is 210,000 BPSD.]

The refineries include the Port Harcourt Refining Company, with an installed capacity of 210,000 barrels of crude oil per day; Kaduna Refining and Petrochemicals Company, with a production capacity of 110,000 barr els per day and Warri Refining and Petrochemicals Company, with an installed capacity of 125,000 barrels per day, bringing the total national capacity to 445, 000 barrels per day.

It was gathered that at completion of the turn-around of the refineries, the Federal Government would save an annual revenue of about N1.3 trillion currently spent on petroleum products importation and associated subsidy, which has become a major cesspool for oil cartels in the country.