ML Flash: NNPC Claims Kaduna refinery is now working perfectly well...

The Group Executive Director (GED), Refining and Petrochemical of Nigerian National Petroleum Corporation (NNPC), Philip Chukwu, in Kaduna, on Tuesday, announced that the three refineries in Warri, Port Harcourt and Kaduna have been revived and are now running.

"As we speak today, all the three fluid catalytic cracking units (FCCUs) are working in the refineries." he continued. "And this is the first time this has happened after about 14 years,".

The Managing Director of the Kaduna Refining and Petrochemical Company, Bankole Ayodele, also spoke, saying that the Kaduna refinery is to refine about 50,000 litres of foreign crude daily to augment the three million litres of petrol (Premium Light Spirit or PMS) it had been producing in the last few weeks.

"The KPRC has two components. One is for [refining] foreign crude, and the other for domestic crude," he said. "The plant for domestic crude is already running and we produce about three million litres of PMS daily."

Is this good news...? Hell NO!