A total of 4,084,560 barrels of crude oil valued at N80.
74bn were supplied to Nigeria’s refineries for a period of 13 months despite the poor performance of the often dormant facilities at various intervals.
For several months, the facilities operated far below expectation. For instance, in November 2019, the refineries processed no crude oil and their production of finished products was recorded as negative. “The intermediate product was primarily used by the PHRC. The declining operational performance recorded is attributable to ongoing revamping of the refineries which is expected to further enhance capacity utilisation once completed.”
There was no crude oil delivery in April 2019. But in May 2019, the facilities received a combined crude volume of 430,090 barrels.Providing latest figures on the utilisation of crude oil for domestic product supply, the NNPC stated that in October 2019, the corporation lifted 9,560,513 barrels of crude oil from the daily allocation for domestic utilisation, translating to an average volume of 308,404 barrels of oil per day in terms of performance.
It explained that out of this volume, 22.22 million barrels were lifted by the NNPC on behalf of the federation.
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