Petroleum Africa
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Monday, October 6, 2014
Nigeria’s refineries have long been known to operate well below installed capacity, and a new report from the Nigerian National Petroleum Corp. (NNPC) shows that the country’s downstream sector is still struggling. The new report shows that the country’s refineries operated under 11% of their combined nameplate capacity of 445,000 bpd in June.
At the Kaduna Refining and Petrochemical Co., nothing was even processed out of the total available crude oil while Port Harcourt Refining Co. only processed about 18%, and the Warri Refining and Petrochemical Co. saw about 14%. The NNPC says that the poor shows are a result of different states of disrepair. Yet the Central Bank of Nigeria released figures in 2012 that said Nigeria’s refineries operated at an average of 31.1%.
Other processing facilities are in the pipeline like Dangote Industries Ltd.’s $9-billion petrochemical refinery in Lagos, expected to be online in 2016.
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