By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Nigeria’s Refineries Grounded, Total Output Now Zero.
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

Nigeria’s Refineries Grounded, Total Output Now Zero.

Damilola A.
By Damilola A.
Published: November 10, 2015
Share
3 Min Read
SHARE

refinery

Nigeria’s refineries combined output has been completely grounded at zero, as the Port Harcourt refinery, which holds forth for the four refining assets also shut down.

The Group Managing Director, Nigerian National Petroleum Corporation (NNPC) Dr. Ibe Kachikwu said the the Port Harcourt refinery has been shut down currently, bringing the combined output from 1.9 per cent in the last few weeks to zero output.

The NNPC had stated in its latest monthly report for September that:

- Advertisement -

“Only Port Harcourt refinery produced 31,008million metric tonnes of petroleum products out of 35,648 MT (261,371.14 barrels) of crude processed at an average capacity utilization of 5.77 per cent.” Kachikwu, who described the poor refining capacity as worrisome some said there was machineries in place to restore the lost glory of the refineries and ensure that they contribute massively to the national fuel consumption. He said the corporation would need about $500 million to fix the refineries, and he is determined to source for the fund in the next seven months to one year.

“Some people are sabotaging the efforts through pipeline vandalism, but we will block all the leakages and fix the problem,” he assured. Decrying the fuel scarcity scenario, Kachikwu said the corporation is speeding up the payment of the subsidy claims, adding that plans are also in the pipeline to review the subsidy system and bring down the amount of subsidy from about N20 per litre to about N5 per litre.

“products distribution is key to NNPC, and we have therefore sent out about 5000 trucks to various locations across the country in the last two days,”

Dr. Ibe Kachikwu however restated his commitment to turn around the NNPC to a world-class company within the next six to 12 months and ensure that it works efficiently in a transparent and accountable manner.

- Advertisement -

“We are out for transparency. We will be engaging the presidency of weekly basis, the governors monthly, and the National Assembly on monthly basis, while we continue to publish out reports monthly,” he said.

The NNPC boss, who agreed that these are very serious trying times for the industry, said the problems are actually more serious than we think, so Nigerians need to work hard and begin to add value.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:NNPCPETROLEUMRefinery
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByDamilola A.
Entertainment News Reporter
Follow:
Damilola is a dedicated entertainment writer for Okay Nigeria (Okay.ng). He joined the platform with the aim of using his experience in the Entertainment industry to share wonderful articles in this field. Dammy is a die-hard fan of Wizkid.
Previous Article PHOTOS: Pres. Buhari Receives Obasanjo at the Presidential Villa.
Next Article PHOTOS: Pro-Biafra Protester Shot by Military Officers in Port Harcourt.

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow
- Advertisement -
Ad imageAd image
- Advertisement -
- Advertisement -
Ad imageAd image

Recent Posts

Speaker Tajudeen Abbas Foresees More Opposition Leaders Joining APC as Party Strengthens Across Nigeria
Politics
Trump Plans Monday Call with Putin to Push for Ukraine Ceasefire
International
Crystal Palace Clinches Historic First Major Trophy with FA Cup Triumph Over Manchester City
Sport
Who Is Roselande Belony? Meet ‘Pastor’s Daughter’ in Viral Video
Explainer
Lagos State Commissioner for Environment and Water Resources, Tokunbo Wahab
‘Lagos is Smelling’: Commissioner Fires Back at Media Personality’s Viral Criticism
News
- Advertisement -
Ad imageAd image

You May Also Like

FAAC Disbursement
News

FAAC Allocation: FG, States, LGs Share N1.681 Trillion Revenue for April 2025

Muhammad A. Aliyu
Muhammad A. Aliyu
May 17, 2025
Politics

Wike Refutes 2027 Presidential Ambitions, Affirms Support for Tinubu

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
May 17, 2025
EducationTop stories

South-East Senators Raise Alarm Over JAMB UTME Glitch Affecting Region’s Candidates

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
May 17, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?