The kind money mentioned here, can drive somebody MAD!!! Could not even finish reading it before I go MAD!!!

Sincere9gerian:
19 Oct 2015

• FG lifted 166m barrels of crude in eight months, IOCs, NPDC, others 261.5m

Ejiofor Alike

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.

The Managing Director of the KadunaRefining and Petrochemical CompanyLimited (KPRC), Mr. Saidu Muhammed, had told THISDAY that the 110,000 barrels per day capacity plant was processing about 60,000 barrels of crude per day following the rehabilitation of two of the company’s production lines. Muhammed added that the company was on phased rehabilitation, with a target to hit 60 per cent of its local refining capacity, which is about two million litres daily.

“We are doing a lot at the moment to make sure that we achieve 80 per cent of refining capacity,” he said, stressing that the production level would hit 90 per cent by the second quarter of 2016.
But the NNPC report indicates that during the eight-month period under review, the three refineries operated at a total loss of N31.682 billion, with Kaduna refinery accounting for the highest loss of N26.183 billion, while Warri and Port Harcourt refineries made losses of N8.496 billion and N8.057 billion respectively. While Kaduna refinery recorded losses throughout the eight-month period, Warri and Port Harcourt refineries recorded profits in some months within the period under review.

The Kaduna refinery operated at a loss of N5.111 billion in January; N2.673 billion in February; N2.260 billion in March; N3.045 billion in April; N2.595 billion in May; N2.662 billion in June; N3.847 billion in July and N3.990 billion in August.

But Warri refinery recorded profits of N4.668 billion and N79 million in the months of January and July, respectively, but recorded losses in February (N1.390 billion), March (N1.338 billion), April (N1.753 billion),May (N1.288 billion), June (N1.532 billion) and August (N1.195 billion).

Port Harcourt refinery also recorded profits of N705 million in March, N557 million in July and N5.045 billion in August. The refinery, however, operated at a loss of N1.497 billion in January, N1.705 billion in February, N1.437 billion in April, N1.713 billion in May and N1.705 billion in June.

The NNPC report blamed “combined factors of low crude oil supply due to vandalised pipelines, plant preservation cost to maintain plant integrity and rehabilitation/turn around maintenance work” for the deficit months prior to August.

Also within the eight-month period, 439 million barrels of crude oil and condensates were lifted by all parties in the country, with the federal government accounting for 166 million barrels, while the international oil companies (IOCs), Nigerian independents and Nigerian Petroleum Development Company (NPDC) lifted 261.5 million barrels, the report showed. Also included in the total figures by all the parties was 11,280,081 barrels lifted under the Modified Carry Agreement (MCA) with the IOCs for the repayment of debt arising from government’s inability to meet its cash call obligations in the joint venture operations. Crude oil lifted on behalf of the federal government for the eight-month period was on account of the NNPC and the Federal Inland Revenue Service (FIRS).

In July for instance, 63.7 million barrels was lifted by all the parties and of this volume, 25.2 million barrels was lifted on behalf of the federal government. The 25.2 million barrels comprised 17.4 million barrels lifted on account of the NNPC and 7.8 million barrels lifted on account of FIRS. However, the 17.4 million barrels was broken down to 15.4 million barrels and 1.9 million barrels for the domestic and export markets respectively.

“At an average oil price of $51.97 per barrel and exchange rate of N195, domestic crude oil lifted by the NNPCwas valued at $805,220,701 or the naira equivalent of N157,782,872,917 for the period.

"Remaining crude oil lifted for export was valued at $108,916,802.23 at an average price of $56.76 per barrel. The total value of crude oil lifted on the account of NNPC in July was thus$914,136, 873," the report added.

http://www.thisdaylive.com/articles/refineries-operated-at-10-capacity-in-august-recorded-n31-7bn-loss/223187/

Then its high time they privatized them, since its obvious govt of naija cant look after any thing.

Then

If we only use 10% of our refineries capacity with the presently state of fuel of No scarcity then, at 100% petrol and kero should be sold at N20 and N5 respectively.

managermahmud:

Allah sarki
This is the most F0oLish post I've ever red in ds forum. This guy was just awakened from ICU, u've not been updated with Nigeria's happenings. Continue to wail while APC continues to progress!

young man stop displaying your ignorance publicly
supporting APC does not make you a dunce, stop being a stooge
bring up constructive criticism and not illogical and senseless partisan support

God bless Nigeria
God help PMB

doxime:

I don't think you understand.
these refineries has been undergoing TAM maintenance for sometime now and the former government based on the available report and the milestones achieved informed Nigerians that the refineries will come on stream by early 2016 but immediately this present government came to power they started making bogus claims which seem to suggest that the refineries are okay but it's the past government that doesn't want it to work.

I even read somewhere where Kachikwu said they saved $287 mn or so from PH TAM! How come we made savings from loss
Mathematicians put am together......

http://www.thisdaylive.com/articles/kachikwu-we-saved-287m-in-port-harcourt-refinery-turnaround-maintenance/219243/

IbokUtoroh:

i might not be reasonable but i can tell u, am much more better than u in all ramification.
So far apc is in power, what we will be hearing is good sweet lies, after some months the truth pop out.

If you name was Ibukun , or Fatimah, i would believe you , Chima Okoro's view of the truth also changed when GEJ lost the elections , Wake up from your slumber and leave your defeat in the past , If sweet lies is what will make me have a good day , then i do not mind

thank you and no more quotes please

managermahmud:

Allah sarki
This is the most F0oLish post I've ever red in ds forum. This guy was just awakened from ICU, u've not been updated with Nigeria's happenings. Continue to wail while APC continues to progress!

Keep living in a fool's paradise... Ur likes are one of the major problems of dis country. .. It's even funny say na dem still dey come out to kip exposing their wash...

IbokUtoroh:
its wailers not wialers. Quote me anywhere.

Lolz......if dats d only error u can't spot 4rm d write up den I score 99.9%
Tanx

managermahmud:

Allah sarki
This is the most F0oLish post I've ever red in ds forum. This guy was just awakened from ICU, u've not been updated with Nigeria's happenings. Continue to wail while APC continues to progress!

Which progress are you blind ?

DaBullIT:


If you name was Ibukun , or Fatimah, i would believe you , Chima Okoro's view of the truth also changed when GEJ lost the elections , Wake up from your slumber and leave your defeat in the past , If sweet lies is what will make me have a good day , then i do not mind

thank you and no more quotes please

gerahahere dog

managermahmud:

Allah sarki
This is the most F0oLish post I've ever red in ds forum. This guy was just awakened from ICU, u've not been updated with Nigeria's happenings. Continue to wail while APC continues to progress!

All these abokiiii people self, their gullibility is first class.... No sense at all....

this country is nothing but a joke!!

That name suits your daddy , all you had to do was read what i typed, assimilate and move on, but you still had to insult me , so your daddy and his flat head kids from different ladies living under the same thatched roofs are the dogs that need to gerrarahere

IbokUtoroh:
















gerahahere dog

[i][/i]

managermahmud:

Allah sarki
This is the most F0oLish post I've ever red in ds forum. This guy was just awakened from ICU, u've not been updated with Nigeria's happenings. Continue to wail while APC continues to progress!

Ewu..i wonder why that Allah of urs didnt give u and ur people a complete sense and brain!!
Abokina,,,which progress is going on in this country?

DaBullIT:
That name suits your daddy , all you had to do was read what i typed, assimilate and move on, but you still had to insult me , so your daddy and his flat head kids from different ladies living under the same thatched roofs are the dogs that need to gerrarahere

gerrahahere dog. quote me anywhere

buzquet:
E beta make we sell this refineries ooo

And those who buy it will do what with the refineries?
Scrap it or make money from it since we are so stupid and incapable of running common refinery

managermahmud:

Allah sarki
This is the most F0oLish post I've ever red in ds forum. This guy was just awakened from ICU, u've not been updated with Nigeria's happenings. Continue to wail while APC continues to progress!

U cannot even counter him with anything reasonable.. not even one fact to counter him..
Ur stupidity is epic

managermahmud:

The truth is naturally bitter, but this is the most foolish point of view I've seen on Nairaland this year

are u well at all?

@managermahmud You lack manners, courtesy and respect for constructive opinion for you to come to a social platform and be calling people names at will. It shows their points are hitting you on the forehead and you cannot control yourself but resort to incessant display of aggression.
No one has made any comment to deserve such. Moreover, Nigerians voted, they deserve to access and criticize. If you are paid to do this, better stop that crap here.
We know they are all corrupt both APC and PDP, but let not a thief call another 'thief'. If they have concrete evidence to prosecute anyone, let them do it within the confines of the law and stop all these political blackmailing and noisemaking. APC government makes too much noise. Allegation and counter allegation. Reasons why they cannot do this and that. That is not the change we voted for!!

Your response just showed ur emptiness.what is not true in the post?Ur just spewing arrant nonsense.So foolish indeed.quote author=managermahmud post=39124170]
Allah sarki
This is the most F0oLish post I've ever red in ds forum. This guy was just awakened from ICU, u've not been updated with Nigeria's happenings. Continue to wail while APC continues to progress![/quote]

Shame on APC.

I keep saying this whenever APC make a statement you will think they are competing with the devil.

You know. ...

its only God that will helps put the right people that will do the right thing.. still lets keep saying it like usa do say it.. GOD BLESS NIGERIA

There is a common saying that when America sneezes,the world catches cold.
I could also infer that when this administration tells you things are bad,it means worse.

ShowYourCertificate:
When I say APC is a scam, you guys thought I was joking.

APC said 20 billion dollars was missing. Now they are in government, we're yet to be told where the money is and who stole it.

APC said they'll defeat Boko Haram in two months. It's now 5 months and the killing continues. The Bring Back Our Girls Campaign has suddenly gone cold.

They said they'll fight corruption, yet they made Saraki senate president (directly or indirectly), chose Amaechi for minister, picked Timpre Sylva and Prince Audu Abubakar as governorship candidates for Bayelsa and Kogi respectively. iLaugh.

They said Buhari will declare his assets publicly. He filled the assets declaration form were he filled in details, his assets and that of his wife. Instead of publishing the assets declaration form like Yar Adua did, Buhari chose not to. Rather his spokeman chose to publicly declare a mud house and a landed property (which we don't even know it's location) and other vague things as Buhari's assets. The assets of Buhari's wife wasn't declared publicly. APC also promised that all Buhari's aides and ministers would declare their's but none has.

They claimed they've improved power supply but we're now in the dry season and power is dwindling.

They promised to create thousands of jobs every month but we're witnessing the opposite. Thousands of jobs are lost every month.

They promised free meals for pupils, 5K for the indigents and a raise in NYSC allowance. Nothing yet.

They claimed that our refineries are now working but Apapa is still congested with Fuel Tankers who come to lift imported fuel. So I wonder why Apapa should be congested with these Tankers since our refineries should be working.

The dollar is falling, revenue is falling, TSA is crippling our banks, our econony is crashing and the APC are busy partying and making merry.

I wail for Nigeria.

and you expect all this to be done under how many months??....people like you is the reason why this country is not moving foward..

Someone just said APC is making progress,all I see i so far is a sinking ship.
APC has gotten power for 6 months,yet there is nothing to show for it.
Ruling a nation is not the same same as story telling.

Where there is no vision,the people perish.

Obosiland:
release Nnamdi KANU .....buhari

that is why i like my PMB, he does not waste time

chukkiephil:
The kind money mentioned here, can drive somebody MAD!!! Could not even finish reading it before I go MAD!!!

since u are now mad, how did u type dis trash

Don't worry,Buhari body language will soon fix the refineries, ain't you trust him?

RichDad1:
Saboteurs at work.

Now saboteurs?

During the past administration, you termed it : cluelessness

Now, sabotage??

Chai....

kaeforum:


Then its high time they privatized them, since its obvious govt of naija cant look after any thing.

Then

If I say this again then I must be a mad man. Just fed up of repeating the same thing over and over and over while as a nation we make the same mistakes over and over and over again. What is government's business in business. Instead of waiting and assisting Dangote to establish his we are burning cash regime after regime after regime. Once again. Close the NNPC NOW!!!!!!!

In 1984 can we remember what happened to cement availability and prices under Major General Buhari. It went through the roof. Cement became an essential commodity, cement rackets and cartels emerged and Nigerians in charge like Generals.....became overnight billionaires. Today we are a net exporter. Can't he as HOS see this and do same for the petroleum sector. No. He wants to further entrench government in the mess by directly driving the garbage truck himself as Minister. We learn nothing in this country. Pity.

ShowYourCertificate:
When I say APC is a scam, you guys thought I was joking.

APC said 20 billion dollars was missing. Now they are in government, we're yet to be told where the money is and who stole it.

APC said they'll defeat Boko Haram in two months. It's now 5 months and the killing continues. The Bring Back Our Girls Campaign has suddenly gone cold.

They said they'll fight corruption, yet they made Saraki senate president (directly or indirectly), chose Amaechi for minister, picked Timpre Sylva and Prince Audu Abubakar as governorship candidates for Bayelsa and Kogi respectively. iLaugh.

They said Buhari will declare his assets publicly. He filled the assets declaration form were he filled in details, his assets and that of his wife. Instead of publishing the assets declaration form like Yar Adua did, Buhari chose not to. Rather his spokeman chose to publicly declare a mud house and a landed property (which we don't even know it's location) and other vague things as Buhari's assets. The assets of Buhari's wife wasn't declared publicly. APC also promised that all Buhari's aides and ministers would declare their's but none has.

They claimed they've improved power supply but we're now in the dry season and power is dwindling.

They promised to create thousands of jobs every month but we're witnessing the opposite. Thousands of jobs are lost every month.

They promised free meals for pupils, 5K for the indigents and a raise in NYSC allowance. Nothing yet.

They claimed that our refineries are now working but Apapa is still congested with Fuel Tankers who come to lift imported fuel. So I wonder why Apapa should be congested with these Tankers since our refineries should be working.

The dollar is falling, revenue is falling, TSA is crippling our banks, our econony is crashing and the APC are busy partying and making merry.

I wail for Nigeria.

U didn't include the main APC scam......Buhari connived with Shehu, Adeshina n lie Mohammed to deny all his campaign promises. Nigeria is gone.