Refineries Operated at 10% Capacity in August, Recorded N31.7bn Loss

Despite earlier claims of robust performance by the management of Nigeria’s three refineries in Port Harcourt, Warri and Kaduna, the refineries actually recorded average capacity utilisation of 10.04 per cent, according to the monthly financial and operations report of the Nigerian National Petroleum Corporation (NNPC) for January to August 2015, which was obtained exclusively by THISDAY.

The report corroborated the statement by the Group Managing Director of the state-run oil firm, Dr. Ibe Kachikwu, in recent weeks that contrary to claims by past management shortly after President Muhammadu Buhari assumed office, the refineries were operating at sub-optimal levels.

 

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