Poor Maintenance Culture Killed Nigeria’s Refineries – NNPC     The Nigerian National Petroleum Corporation has blamed the moribund state of the country’s refineries on lack of proper maintenance of its facilities over the years. Although the NNPC noted that Nigeria had one of the highest number of...

Refineries Incur Losses In 13 Months Nigeria’s four refineries under the management of the Nigerian National Petroleum Corporation have not made any profit since May 2018. Instead, the refineries posted losses consecutively between May last year and May this year. The country’s refineries comprise Warri Refining and...

NNPC Resolves To Add 215,000bpd Extra Refining Capacity For Refineries   In order to address the shortfall in the supply of petrol, the Nigerian National Petroleum Corporation (NNPC) Thursday said it had resolved to add 215,000 barrels per day (bpd) refining capacity to its existing nameplate...

FG Wants S/Arabia To Invest In Refineries The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, has said the Federal Government is asking Saudi Aramco for some investment into the nation’s refineries. Kachikwu stated this on Wednesday while speaking with ‘Bloomberg Daybreak: Americas’ on the...

NNPC Incur N228.1bn Revenue Loss As Refineries Remain Dormant The Nigerian National Petroleum Corporation lost revenue of N228.1bn between April and November 2018, a period of about seven months, as its refineries continued to perform poorly, the latest industry data revealed. Figures obtained from the national...

Private Sector Funding For Refineries Hampered By Interest Rates, Others   Interest rates on pre-funding loan and commercial pricing for Direct Sale-Direct Purchase of crude between the Nigerian National Petroleum Corporation and international oil companies, among few other concerns, are issues that stalled the provision of...