Fuel imports increase by 78 million litres

The amount of fuel imported into Nigeria increased to 645.64 million litres in October this year as the total crude oil processed by the country’s refineries in the same month was zero, data from the latest financial and operations report of the Nigerian National Petroleum Corporation (NNPC) has shown.

An analysis of the petroleum products supply and distribution as contained in the report showed that the importation of Premium Motor Spirit or petrol into Nigeria for October increased by 78.04 million litres when compared to the 567.6 million litres imported into the country in September.

Although the increase in volume of imported PMS in the month under review did not address fuel scarcity across the country, the NNPC, however, noted that the products were brought to the country through its Offshore Processing Agreements.

It also stated that the country’s refineries were dormant with respect to the processing of crude oil in October. This was despite the December performance target that was given the refineries by the Group Managing Director, NNPC, Ibe Kachikwu.

The NNPC noted that the supply of white products, which include petrol and dual purpose kerosene into Nigeria in October 2015 increased to 852.1 million, as against 763 million litres that were supplied in the preceding month.

The report said, “In October 2015, 852.1 million litres of white products were supplied into the country through the OPA arrangements compared with a volume of 763.90 million litres achieved in the prior month of September 2015.

“DPK receipt in October 2015 was 206.46 million litres compared with 196.3 million litres imported in the prior month of September. Similarly, the PMS supply in October 2015 was 645.64 million litres compared to September 2015 supply of 567.6 million litres.”

On refineries’ operations, the NNPC said, “Total crude processed by the three refineries in the month of October 2015 was zero. However, 92,332 metric tonnes of unfinished product was processed which translates to a combined yield efficiency of 78.93 per cent.”

The three refineries include Kaduna Refining and Petrochemical Company, Port Harcourt Refining Company and Warri Refining and Petrochemical Company.

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