NNPC Under Siege! GMD Confirms Attacks as Ojulari Reveals Shocking N500M Monthly Refinery Loss
Bayo Ojulari, the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, has revealed the significant financial challenges plaguing the Port Harcourt refinery, reporting monthly losses of approximately N300 million to N500 million. Speaking in Abuja during a meeting with a delegation from the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), led by its president Festus Osifo, Ojulari detailed the long-standing issues stemming from years of neglect.
Ojulari explained that initial attempts to quickly fix the refinery highlighted deep-rooted problems. He noted that despite pumping about 950,000 barrels of cargo to the refinery, the mass balance indicated that less than 40 percent of the input was being converted to output. Furthermore, the refinery was only producing mid-grade products because only half of its operational capacity was functional. He clarified a common misconception, stating that the
You may also like...
Super Eagles Fury! Coach Eric Chelle Slammed Over Shocking $130K Salary Demand!
)
Super Eagles head coach Eric Chelle's demands for a $130,000 monthly salary and extensive benefits have ignited a major ...
Premier League Immortal! James Milner Shatters Appearance Record, Klopp Hails Legend!
Football icon James Milner has surpassed Gareth Barry's Premier League appearance record, making his 654th outing at age...
Starfleet Shockwave: Fans Missed Key Detail in 'Deep Space Nine' Icon's 'Starfleet Academy' Return!
Starfleet Academy's latest episode features the long-awaited return of Jake Sisko, honoring his legendary father, Captai...
Rhaenyra's Destiny: 'House of the Dragon' Hints at Shocking Game of Thrones Finale Twist!
The 'House of the Dragon' Season 3 teaser hints at a dark path for Rhaenyra, suggesting she may descend into madness. He...
Amidah Lateef Unveils Shocking Truth About Nigerian University Hostel Crisis!
Many university students are forced to live off-campus due to limited hostel spaces, facing daily commutes, financial bu...
African Development Soars: Eswatini Hails Ethiopia's Ambitious Mega Projects
The Kingdom of Eswatini has lauded Ethiopia's significant strides in large-scale development projects, particularly high...
West African Tensions Mount: Ghana Drags Togo to Arbitration Over Maritime Borders
Ghana has initiated international arbitration under UNCLOS to settle its long-standing maritime boundary dispute with To...
Indian AI Arena Ignites: Sarvam Unleashes Indus AI Chat App in Fierce Market Battle
Sarvam, an Indian AI startup, has launched its Indus chat app, powered by its 105-billion-parameter large language model...
