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Nairaland Forum / Nairaland / General / Politics / Massive Fuel Imports Continue As Refinaries Fails (1317 Views)
Nigeria And China Sign $23bn Deal For Three Refinaries In Kogi,lagos & Bayelsa. / Massive Fuel Imports Continue As Refineries Fail / Who Takes Credit For The Four Refinaries About To Commence Operations? (2) (3) (4)
Massive Fuel Imports Continue As Refinaries Fails by Emperorone(m): 8:38am On Aug 11, 2015 |
Despite claims that Nigeria’s refineries are now operational, the country will have to depend largely on imported petrol in the third quarter of 2015. It was learnt on Monday that import allocation for petrol was given to importers of the product last week. Our correspondent gathered that no refinery had been able to produce petrol in commercial quantity in the past weeks, despite claims by the operators of the facilities that they had started refining crude oil to produce petroleum products. In fact, senior officials of the Federal Ministry of Petroleum Resources and the Petroleum Products Pricing Regulatory Agency told our correspondent in Abuja on Monday that tankers still headed for Lagos to load products. The Nigerian National Petroleum Corporation last month announced that the Port Harcourt Refining Company was ramping up capacity to about 60 per cent of the 210,000 barrels per day of crude capacity, while production from the Warri Refining and Petrochemical Company had been projected to hit 80 per cent of its installed 125,000 bpd capacity. The Manager in charge of the Production Programming and Quality Control, Kaduna Refining and Petrochemicals Company, Shehu Malami, had reportedly said that the refinery would save about $5.33m daily for the country when it hits 90 per cent production capacity in the first quarter of 2016. But officials at the petroleum ministry and the PPPRA wondered why the refineries had yet to churn out products, particularly petrol, if actually they were operational as claimed. An official at the ministry, who spoke to our correspondent in confidence, said, “Has any of the refineries stated the quantity of products that they are actually churning out? It is already known that Nigeria consumes an average of 40 million litres per day; so, if the refineries are working, then you can now say maybe they are producing about 20 million litres per day and you can now subtract that from the imports. “We need to verify if indeed they have started churning out products, not just on paper. Just two weeks ago, they gave letters of allocation to importers to bring in products to meet the third quarter consumption demand.” In his reaction, the National President, Independent Petroleum Marketers Association of Nigeria, Mr. Chinedu Okoronkwo, said the refineries were working but they had constraints in terms of supplying products to marketers. He said, “For now, marketers go to where they think they can get the products easily without problems. The refineries are working, no doubt, but we know that the pipelines are not functioning properly because of vandalism. We are working with the Federal Government to see how we can connect, especially Aba and Enugu up to Makurdi. “Soon, a lot of things will fall in place. Considering what they are producing now, if the pipelines are not in order, then they will not be able to get products across. However, I’m sure that the new government, being a government of change, is working on this issue.” Meanwhile, the daily subsidy on a litre of petrol has dropped to N33.86 from a high of N51.61 on June 11, 2015, pricing template by the PPPRA showed on Monday. The PPPRA put the landing cost of the product at N105.37 per litre as of August 7, down from N123.12 per litre on June 11, while the Expected Open Market Price was N120.86 per litre, compared to N138.61 on June 11. Subsidy refers to the money paid, usually by the government, to keep prices below what they will otherwise be in a free market system. There have been calls in some quarters urging the Muhammadu Buhari-led government to remove fuel subsidy, which has been described as wasteful and prone to corruption. Nigeria, Africa’s top oil producer, relies on importation for most of its fuel needs as the country’s refineries operate below installed capacity. The sustained fall in global oil prices has triggered the decline in the landing cost of petrol as crude oil constitutes a major component in the pricing template. Last week, the global benchmark Brent crude plunged below the $50 per barrel mark, for the first time in six months. Brent, against which Nigeria’s oil is priced, was trading at $49.86 per barrel on Monday. Analysts at Ecobank Capital including the Head of Energy Research, Mr. Dolapo Oni, noted that the Federal Government had decided to retain its fuel subsidies at least for another quarter as the PPPRA had recently selected 29 petroleum marketers to import 1.6 million tonnes of petrol, approximately 2.1 billion litres, for the third quarter of the year. They said, “The decision to retain the fuel subsidies is particularly surprising given the government’s fiscal position is significantly constrained by the drop in oil prices and difficulties in selling its crude.” They said, going forward, the government’s revenue and ability to sustain the fuel subsidies could be significantly challenged by trends in the global oil market. Source: http://www.punchng.com/business/business-economy/massive-fuel-imports-continue-as-refineries-fail/ |
Re: Massive Fuel Imports Continue As Refinaries Fails by benedictnsi(m): 8:39am On Aug 11, 2015 |
Hmm nawah...... Nawatically Pls who is the minister for Petroleum We get oil d import oil hmmm very sardonic |
Re: Massive Fuel Imports Continue As Refinaries Fails by kamair237(m): 8:41am On Aug 11, 2015 |
OK Food for wailers.... |
Re: Massive Fuel Imports Continue As Refinaries Fails by jammani(m): 8:41am On Aug 11, 2015 |
Now I am beginning to believe that APC is propaganda 1 Like |
Re: Massive Fuel Imports Continue As Refinaries Fails by buskie13(m): 8:41am On Aug 11, 2015 |
DuIIardinho......wats happening?...have u infected de refineries with u senile attitude Nigeria has not started seeing de failures of this man..brace up yourself for more heartbreaks from de Daura DuIIardinho 1 Like |
Re: Massive Fuel Imports Continue As Refinaries Fails by dunkem21(m): 8:42am On Aug 11, 2015 |
The problem is that Subsidy has been removed already ..Nigerians buy PMS @N100/litre at least from service stations with black marketers ripping and slicing the masses .. We will get there. Buhari, you gat my back but .. ...but, you didn't offer GEJ a shoulder! |
Re: Massive Fuel Imports Continue As Refinaries Fails by Nobody: 8:42am On Aug 11, 2015 |
kamair237:abeg shut ur mouth, you nor dey tire? abi you nor get work? 1 Like |
Re: Massive Fuel Imports Continue As Refinaries Fails by Demmocrats(m): 8:42am On Aug 11, 2015 |
Abeg my sai buhari is working joor don't believe those lies |
Re: Massive Fuel Imports Continue As Refinaries Fails by bewla(m): 8:42am On Aug 11, 2015 |
which one do we believe |
Re: Massive Fuel Imports Continue As Refinaries Fails by Nobody: 8:43am On Aug 11, 2015 |
Buhari and his artiste have been giving us a gloomy pix of refineries whereas there pump price is still #100. Please guard yourselve because Nigeria might be in Mars in the next four years with this kind of lies being spread by APc 1 Like |
Re: Massive Fuel Imports Continue As Refinaries Fails by buskie13(m): 8:46am On Aug 11, 2015 |
kamair237:we know ur case is irredeemable....so no need to take an awusa goat like u seriously 1 Like |
Re: Massive Fuel Imports Continue As Refinaries Fails by psucc(m): 8:46am On Aug 11, 2015 |
Yes it may even GI beyond 2015. The Cabals driving the oil sector is so powerful that it can determine the swing of the pendulum. |
Re: Massive Fuel Imports Continue As Refinaries Fails by kamair237(m): 8:48am On Aug 11, 2015 |
jack67:nahhh!!! U ain't worth it.... |
Re: Massive Fuel Imports Continue As Refinaries Fails by DaBullIT(m): 8:50am On Aug 11, 2015 |
Errdyots The refineries will start working by the end of the month or september, not sure exactly when no one said its working yet So what if it's still being imported? you are not happy that there are no long queues at petrol station and you are not happy that fuel now sells for 87 naira Awon enemies of progress oshi |
Re: Massive Fuel Imports Continue As Refinaries Fails by dunkem21(m): 8:55am On Aug 11, 2015 |
DaBullIT: There are small queues in stations, bro ..and the pump price is still not N87 apart from Oando stations and ..and .. |
Re: Massive Fuel Imports Continue As Refinaries Fails by ajebuter(f): 8:57am On Aug 11, 2015 |
Another Apc propaganda that is gradually back firing. Things fall apart when a government is built on lies, propaganda and falsehood. |
Re: Massive Fuel Imports Continue As Refinaries Fails by lunaticfringe: 8:58am On Aug 11, 2015 |
DaBullIT:Errdyots Just listen to yourself boy!!! Tell me why anybody will take you serious if this is the way you reason... |
Re: Massive Fuel Imports Continue As Refinaries Fails by DaBullIT(m): 8:59am On Aug 11, 2015 |
dunkem21: I drove from Ibadan to Ede , Petrol retails at 87 , From Ede to Akure, It's still 87 , Don't know how soon i'll be leaving for ABJ , but all those stations i checked/ bought from not OANDO abeg and any marketer selling above 87 should be reported |
Re: Massive Fuel Imports Continue As Refinaries Fails by Nobody: 9:03am On Aug 11, 2015 |
jammani: Did you read the whole story before commenting? Towards the end of the story we have this: "In his reaction, the National President, Independent Petroleum Marketers Association of Nigeria, Mr. Chinedu Okoronkwo, said the refineries were working but they had constraints in terms of supplying products to marketers. He said, “For now, marketers go to where they think they can get the products easily without problems. The refineries are working, no doubt, but we know that the pipelines are not functioning properly because of vandalism. We are working with the Federal Government to see how we can connect, especially Aba and Enugu up to Makurdi. “Soon, a lot of things will fall in place. Considering what they are producing now, if the pipelines are not in order, then they will not be able to get products across. However, I’m sure that the new government, being a government of change, is working on this issue.” 2 Likes |
Re: Massive Fuel Imports Continue As Refinaries Fails by DaBullIT(m): 9:04am On Aug 11, 2015 |
lunaticfringe: The least person to tell me how i reason is the person whose handle is Lunatic and Fringe Sorry if i do not take you seriously |
Re: Massive Fuel Imports Continue As Refinaries Fails by Nobody: 9:04am On Aug 11, 2015 |
ajebuter: Did you read the whole story before commenting? Towards the end of the story we have this: "In his reaction, the National President, Independent Petroleum Marketers Association of Nigeria, Mr. Chinedu Okoronkwo, said the refineries were working but they had constraints in terms of supplying products to marketers. He said, “For now, marketers go to where they think they can get the products easily without problems. The refineries are working, no doubt, but we know that the pipelines are not functioning properly because of vandalism. We are working with the Federal Government to see how we can connect, especially Aba and Enugu up to Makurdi. “Soon, a lot of things will fall in place. Considering what they are producing now, if the pipelines are not in order, then they will not be able to get products across. However, I’m sure that the new government, being a government of change, is working on this issue.” 1 Like |
Re: Massive Fuel Imports Continue As Refinaries Fails by Nobody: 9:05am On Aug 11, 2015 |
ECOTERRORS: Did you read the whole story before commenting? Towards the end of the story we have this: "In his reaction, the National President, Independent Petroleum Marketers Association of Nigeria, Mr. Chinedu Okoronkwo, said the refineries were working but they had constraints in terms of supplying products to marketers. He said, “For now, marketers go to where they think they can get the products easily without problems. The refineries are working, no doubt, but we know that the pipelines are not functioning properly because of vandalism. We are working with the Federal Government to see how we can connect, especially Aba and Enugu up to Makurdi. “Soon, a lot of things will fall in place. Considering what they are producing now, if the pipelines are not in order, then they will not be able to get products across. However, I’m sure that the new government, being a government of change, is working on this issue.” 1 Like |
Re: Massive Fuel Imports Continue As Refinaries Fails by lunaticfringe: 9:12am On Aug 11, 2015 |
The refineries are working, no doubt, And some crazy mofo will come up with a silly question of the input of SE region into the Fed acct... Facts from the post... |
Re: Massive Fuel Imports Continue As Refinaries Fails by dunkem21(m): 9:34am On Aug 11, 2015 |
DaBullIT: Buy with a 5 litres Jerry can and you will understand my drift. |
Re: Massive Fuel Imports Continue As Refinaries Fails by fctboy: 10:00am On Aug 11, 2015 |
God should intervene. Yesterday it wasn't easy for me to get kerosene. Very Few filling station in Abuja now sell kerosene between N150 to N170 while open market sold N250 per litre. Has kerosene been fully deregulated ? I am concerned because it is the only petroleum product needed even in remote villages. |
Re: Massive Fuel Imports Continue As Refinaries Fails by Emperorone(m): 10:22am On Aug 11, 2015 |
fctboy: In the alternative I think cooking gas is cheaper and economical |
Re: Massive Fuel Imports Continue As Refinaries Fails by richidinho(m): 11:14am On Aug 11, 2015 |
Buhari with mouth action ehn!!! he is trying shaa |
Re: Massive Fuel Imports Continue As Refinaries Fails by tucky200(m): 11:37am On Aug 11, 2015 |
jammani:mr mumu, where were u when they denied having a hand in the sudden re-opening of the refineries |
Re: Massive Fuel Imports Continue As Refinaries Fails by jammani(m): 11:54am On Aug 11, 2015 |
tucky200: Weere ore ! Must yu abuse? |
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