Skip to main content

Why our refineries can’t meet up with demands – Mukhtar



Nigerian refineries cannot meet up with the country’s oil demand due to pipelines vandalism, the Managing Director, Kaduna Refining and Petrochemical Company (KRPC), Alhaji Idi Mukhtar, said on Friday.

Mukhtar spoke at the fourth edition of capacity building workshop for Energy Correspondents.

 He called for the establishment of a 20-inch pipeline to optimize crude refining to about 80 per cent.

He said, ”What is of  strategic importance is the need to lay a new wider (20 inch) pipeline that will serve as a better alternative to the current 16 inch pipeline which is limited by its size and low integrity.

”In fact, if KRPC is set to achieve the target of operating at a minimum of 80 per cent throughput. The new pipeline is needed to ensure delivery of sufficient crude oil to meet the target.”

Mukhtar also advocated for areas with pipelines regarded as ‘’Military Zone’’ because of its strategic importance.

He added: “A major challenge facing KRPC is the incessant vandalism on Warri–Kaduna pipeline and in fact it is one of the greatest threats to KRPC’s performance. This line needs to be highly secured to guarantee continuous supply of crude oil to KRPC.”


Join our BBM channel for instant updates : C0030863D

Comments

Popular posts from this blog

BOOM: Nigeria’s External Reserves Drops To Lowest In 11 Years

Nigeria’s foreign exchange reserve fell to $25,780,765,483 (25.78 billion) as of August 16, the lowest we have seen since 2005. The drop was down 2.11% from a month ago. The Nations external reserves dropped below $26 billion for the first time on the 5th of August 2016 after it closed at about $25,971,610,949. In fact, the external reserves has dropped by about $480 million dollars in August alone compared to just $100 million in the whole of July. Ironically, the current balance of $25.9 billion is worth about 80% more than what it was in Naira following the depreciation of the naira after it was floated. The CBN has in the past few days ramped up sales of dollars at the interbank in the hope that it will create liquidity in a market that is yawning gape to swallow forex after nearly almost two years of intense rationing by the CBN. The Naira weakened to its lowest ever at the interbank after it closed at about N362.5/$1 in midday trading. The Naira will eventua...

Why Entrepreneurs Should Engage Their Spouses in the Business

When her husband first joined a startup, a woman I’ll call Cindy had saved up a comfortable nest egg for her family. Even with several young children, their financial situation was stable enough that their personal risk in the venture seemed minimal. But a year later, when the seed funding dried out and no substantial revenue was forthcoming, things went downhill for them. Her husband stopped receiving a salary, yet continued working and traveling extensively for the company. Cindy had to care for their children, including two toddlers and two autistic preteens, mostly on her own. She begged her husband to find another job, but he didn’t want to leave a business that he had already invested so much in. She offered to go back to work and have him watch the kids; he refused. Within two years, their financial reserves and their children’s college funds had disappeared entirely. Their home was eventually foreclosed on, and the family had to move in with a relative. Onl...

Emefiele gives insight, on what to Expect during his second term

The newly re-appointed Governor of the Central Bank of Nigeria, Godwin Emefiele, over the weekend enumerated the things intends to accomplish during his second term in office. Emefiele enumerated his plans while speaking to journalists at the University of Nigeria Nsukka (UNN), on the sidelines of the institution’s Special Convocation which took place on Friday. The CBN Governor gave delivered a lecture at the event. Driving down inflation: According to Emefiele, he intends to focus on policies that would drive down the country’s inflation rate, improve price stability, and drive economic growth. Emefiele’s Stern Warning: The CBN Governor further disclosed that he plans to work with his team to drive down imports and encourage exports. He also used the occasion to issue a stern warning to those who meddle with policies aimed at achieving economic stability, telling them that they will be caught and punished by law. Mr Emefiele’s second term plans came just a few days after ...