Nigeria’s three refineries – Port Harcourt Refining Company (PHRC)Kaduna Refining & Petrochemical Company Limited (KRPC), and Warri Refining & Petrochemical Company Limited (WRPC), recorded an operational deficit of N66.278 billion in 2017.
Breakdown of the deficits showed that KRPC suffered a loss of N32.617 billion; WRPC, N22.147 billion and PHRC, N11.514 respectively.Nigerian refineries with a combined installed capacity of 445,000 barrels per day (bpd) have been performing below installed capacity, resulting to heavy dependent on importation of petroleum products.
For example, total crude processed by domestic refineries (KRPC and PHRC) for the month of December 2017 was 507,732 Metric Tonnes (MT), with PHRC accounting for 370,125MT while a total of 137,607MT was processed by KRPC. This translates to a combined yield efficiency of 88.99 per cent compared to 105,735 MT of crude processed in November 2017 which translated to a combined yield efficiency of 89.61 per cent.
For the month of December 2017, the two refineries produced 300,264 MT of finished petroleum products and 151,554 MT of intermediate products out of the 507,732 MT of crude processed at a combined capacity utilization of 26.99 per cent compared to 5.81 per cent combined capacity utilization achieved in the month of November 2017.
The Nigerian National Petroleum Corporation (NNPC) said in its monthly financial report released recently that the ongoing revamping of the refineries will enhance capacity utilization once completed.
 "Finidi George, Amokachi Unveiled As Super Eagles Gaffers")