Sunday, September 19, 2021

Moribund NNPC refineries sell N463.63m worth of electricity

Categories

Share

Warri and Kaduna refineries have earned a total of N463.63m in 2020 from the sale of electricity, according their audited financial statements have shown despite not producing any barrel.

The NNPC said the two refineries have a combined installed electricity generation capacity of 179 megawatts.

The Group Managing Director, NNPC, Mele Kyari, in September 2020 saidql all the government-owned refineries were shut down because the delivery of crude oil to them was ‘completely challenged because the pipeline network has been completely compromised by vandals’.

The plants in Port Harcourt, Kaduna and Warri, have a combined installed capacity of 445,000 barrels per day but have been in a state of disrepair for many years.

Warri Refining and Petrochemical Company, said it generated an income of N433.36m from the sale of power last year, down from N462.56m.

It has the potential to generate 125MW of electrical power from three gas turbine generators and three steam turbo-generators, according to the NNPC.