The Nigerian National Petroleum Corporation (NNPC) in its latest oil and gas report has indicated that the combined capacity utilisation of Nigeria’s three refineries failed to improve in February, The Punch reports.
On the operational performances of the refineries in the month under review, the report stated that the combined capacity utilisation of the facilities dropped from 36.73 per cent in January to 29.06 per cent in February. Nigeria’s three refineries are the Warri Refining and Petrochemical Company, the Port Harcourt Refining Company and the Kaduna Refining and Petrochemical Company.
Specifically, the WRPC posted the worst operational performance during the review month as its capacity utilisation plunged from 42.56 per cent in January to 4.7 per cent in February. The PHRC and KRPC showed slight improvements, as their capacity utilisation increased from 38.51 per cent and 26.72 per cent to 40.73 per cent and 34.45 per cent, respectively.
The report said, “Total crude processed by the three local refineries (KRPC, PHRC and WRPC) for the month of February 2017 was 493,773 metric tonnes (3,620,344 barrels), which translates to a combined yield efficiency of 90.37 per cent compared to the crude processed in January 2017 of 691,122MT (5,067,307 bbls), which translates to a combined yield efficiency of 88.23 per cent.”
“For the month of February 2017, the three refineries produced 331,236MT of finished petroleum products and 114,983MT of intermediate product out of 493,773MT of crude processed at a combined capacity utilisation of 29.06 per cent compared to 36.73 per cent combined capacity utilisation achieved in the month of January 2017.”