The NNPC disclosed that the combined installed capacity utilization of the three refineries located in Port Harcourt, Warri and Kaduna increased by about twenty-nine percentage in January this year, compared with the performance of the facilities in December last year.
This was made known in the Monthly Financial and Operations Report released by the NNPC in Abuja, which noted that capacity utilization of the refineries rose to over thirty-six point seven per cent in January, as against seven point five-five percent in the previous month of December.
The NNPC attributed the improvement to the implementation of what id called Twelve Business Focus Areas strategy introduced by the Group Managing Director, MAIKANTI BARU.
According to a statement released by the Group General Manager Public Affairs of NNPC, NDU UGHAMADU, the refineries benefited from the introduction of a new business model that has transformed them from tolling plants to merchant plants.
UGHAMADU also disclosed that the Port Harcourt Refining Company and the Warri Refining and Petrochemical Company also posted surpluses of five billion, one hundred and fifteen million naira and four hundred and four million naira respectively.
He said apart from Port Harcourt and Warri refineries, five other subsidiaries of the NNPC, including the Nigerian Petroleum Development Company, the Nigerian Gas Pipelines and Transport Company, also posted surpluses.
Others are NNPC Retail, the National Engineering and Technical Company and the Integrated Data Services Limited.
