• 14 hours US to rejoin Paris climate pact by 2020?
  • 17 hours We're worried about US shale production, while OPEC calls for $10 trillion investment to meet demand?
  • 11 hours NASA Spends $1 Billion For a Launch Tower That leans, May Only be Used Once
  • 16 hours Iran To Recover War Losses By Exploiting Syria Natural Resource !?
  • 47 mins API Inventory Data (Tuesdays)
  • 11 hours Exxon sues the suers in climate-change case
  • 8 hours Venezuela's New Bitcoin: An Ingenious Plan or Worthless Cryptocurrency?
  • 17 hours Israel Strikes "Historic" Gas Deal With Egypt
  • 18 hours Ohio to Ban Oil, Gas Entirely?
  • 17 hours Ireland 2040 - 116 Billion Pounds For Infrastructure Projects Around The Country
  • 11 hours Cryptocurrencies ‘Could drop to near-zero at any time’
  • 18 hours EIA Inventory Data (Wednesdays)
  • 18 hours DOA to invest $6.5M in coal industry
  • 17 hours Is Global Warming Good For Humanity After All?
  • 18 hours Gold Bust could see $1000/oz
  • 11 hours Vanadium: The Next Star in Batteries?
Russia Is Taking Over Syria’s Oil And Gas

Russia Is Taking Over Syria’s Oil And Gas

Syrian oil production fell quickly…

Russia May Feel Pinch From Oil Cut Deal This Year

Russia May Feel Pinch From Oil Cut Deal This Year

Russia’s central bank warned that…

Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

Lack Of Crude Forces Nigeria’s Kaduna Refinery To Shutter

Kaduna refinery Nigeria

A lack of raw supplies has caused the Kaduna refinery in Nigeria to shut down, according to the Nigerian National Petroleum Corporation (NNPC).

Reuters said the state-run oil firm had been making arrangements for a shipment of crude to resume production at the 110,000-barrel per day facility.

Last September, the NNPC announced plans to shutter the three facilities to allow for repairs, but it is unclear if that actually happened.

Oil Minister Emmanuel Kachikwu hinted in December that a technical committee would submit its report for presidential approval. The document will detail “work aimed at bringing the four refineries operated by NNPC in Kaduna, Warri, and Port Harcourt back to their nameplate production capacities…which would eventually start in January 2018.”

“As you know, it is being the perception of the public that the repairs of the refineries are never done thoroughly. So this time, our intention is to shut down the refineries when we are ready, and then fully bring them back to what they should be as new refineries,” NNPC Managing Director Maikanti Baru said during the Nigerian Pipeline Security Conference going in Abuja last year.

Related: Goldman: Oil To Top $80 Within Six Months

Despite being Africa’s largest crude oil producer, Nigerian refining capacity is low, which has forced the government to spend foreign currency reserves on purchases of refined oil goods. Building new refineries within the country’s borders would allow Lagos to revitalize aging oil facilities while preserving foreign currency resources.

Nigeria’s oil industry and economy suffered in 2016, not only from the low oil prices, but also from persistent militant attacks on oil infrastructure that crippled crude oil production. The sabotages reduced Nigeria’s output from more than 2 million bpd at its highest point in 2015 to 1.4 million bpd last summer, the lowest production level in 30 years. Over the course of 2017, a ceasefire with the militias allowed output to recover for the most part.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News