www.vanguardngr.com/2015/05/petroleum-sector-what-buhari-must-know-about-subsidy-refining-and-the-transparency-question/


Dear Nigerians,
From 1960 - 2015 is 55years. For 55yrs, our past leaders have sold us into undeserved slavery and hardship due to lack of vision. Please, read this to the end and comment why Nigerians deserve to experience economic hardship...

The following net importers of petroleum have refineries in this order:
China (51 refining 12.6 mbpd)
Japan (29 refining 4.1 mbpd),
India (21 refining 4.3 mbpd),
Germany (15 refining 2.1 mbpd),
France (13 refining 1.5 mbpd),
Italy (16 refining 2.1 mbpd) and
South Korea (6 refining 2.9 mbpd).

The United States only imports crude to augment the
shortfall for her 139 functional refineries refining 17.8 mbpd to keep their economy going. The US does not import refined products. They derive the full benefits of petroleum by refining their products locally.

Nigeria is among the top fifteen world producers of
petroleum. Incidentally, Nigeria is the only one that
exports all her crude and imports virtually all her refined products and their derivatives. This is the reason we place our budget bench mark on the sale of crude in the international market. We sell a barrel of crude for less than $60 and buy all the byproducts and derivatives for as much as $3000.

It is on record that India as a net importer of petroleum has the world’s largest refinery (Jamnagar Refinery Gujurat) with about 1.24 million barrels per day capacity.

China with a population of 1.3 billion people meets her domestic demand and also exports to other
regions.

The Organisation of Petroleum Exporting Countries
(OPEC) has refineries in this order:

Saudi Arabia (10 refining 2.5 million barrels per day), Iran (9 refining 1.7 mbpd),
UAE (4 refining 0.7 mbpd),
Kuwait (3 refining 0.91 mbpd),
Venezuela (12 refining 1.8 mbpd),
Iraq (11 refining 0.83 mbpd),
Algeria (5 refining 0.65 mbpd),
Angola (2 refining 0.04mbpd),
Libya (5 refining 0.38 mbpd),
Qatar (3 refining 0.14 mbpd), and
Ecuador (2 refining 0.19mbpd).
All their refineries are working up to capacities and meet their requirements and for export.

This is the Nigerian case. Nigeria has four refineries, two in Port Harcourt (1st P/H 60,000 bpd and 2nd P/H 150,000bpd), and one in Warri (125,000 bpd) and one in Kaduna (110,000 bpd) with a combined refining capacity of 445,000 barrels per day. The oldest in Port Harcourt was built in 1965 and the newest still in Port Harcourt was built in 1989. Warri and Kaduna came on stream in 1978 and 1980 respectively, they have for almost two decades been down due to inadequate maintenance. It has been gory tales of turn around maintenance (TAM) with millions of dollars wasted at regular intervals in our
harvests of misfortune.

Today, we are talking about local importers or marketers holding us to ransom as to how and when we get products supply. Tomorrow we may be talking about international petroleum products suppliers refusing us supplies. One can imagine the confusion in our national life and psyche. We must act now to prevent this because it can be a security risk!

Let us remind our country men and women that until
recently, we were the third supplier of crude to the
United States (40 percent of our crude). By July 2014, the US stopped the importation of Nigeria’s crude.

Last built in 1989, 26 yrs ago and no proper maintenance to see them work in full capacity and provide even the little that won't b enough ? Wow, cabals holding us tight will get tired someday.

The problem of our country is so big,that i think change can ONLY come from a leader that is willing to "DIE" for it...

Nigeria needs EXTRA-ORDINARY leadership.

Oil is a gift from God,but this gift wont benefit you and I if the devil is in charge of it.

I also think we really need to be one...Nairaland,i consider to be very useless in this regard.

It's sheer senselessness on display by our leaders and those individuals involved. I can't imagine that some Nigerian citizens did set up refineries outside just because they want to make much money at the expense of thier country men and women? Shit!
Some of our leaders and these people need to get their brain checked. Don't know if it is govt policies or just wickedness by these elites.
I crossed my leg and patiently waiting to see if Buhari is truly that President to clean up the mess and reposition the country to the right direction. Lets see what becomes of our oil and power sectors in 2 years.

mars123:
The problem of our country is so big,that i think change can ONLY come from a leader that is willing to "DIE" for it...

Nigeria needs EXTRA-ORDINARY leadership.

Oil is a gift from God,but this gift wont benefit you and I if the devil is in charge of it.

I also think we really need to be one...Nairaland,i consider to be very useless in this regard.

I don't understand the kind of leaders we have in this nation.

How can you be freely given a beautiful lady but you offer her out to be impregnated by another man before return home. Such is case in Nigeria.

We have crude oil, and for over 30yrs we can not fix it. Even for just 16 yrs of PDP rules, nothing.

#babaonechance# if it is just our refinery and power, e don do. Do am and fix Nigeria to be corruption free......we beseech thee