‘Kaduna refinery produced 236m litres of PMS in first quarter’
The Kaduna Refining and Petrochemical Company (KRPC) says it produced over 236.48 million litres of Premium Motor Spirits (PMS), otherwise known as petrol, for domestic consumption in the first quarter of 2017 amid technical challenges.
The Managing Director, Adewale Ladenegan, said the plant was poised to implement the Operate and Market (O&M) business model meant to allow for its independence when fully operational.
He said: “The year 2017 for KRPC started on a good note as the organisation successfully operated parts of the fuel plant till May when it was shut down due to some technical challenges.
“In the first half of the year, we produced and delivered to Nigerians 236.48 million litres of Premium Motor Spirit (PMS), 87 million litres of house hold kerosene, 197.51 million litres of Automotive Gas Oil (AGO) and 66.39 million litres of Low Pour Point Fuel Oil (LPFO).”
Ladenegan, who spoke at a three-day workshop for journalists titled, Towards enlightened reportage of the oil and gas industry, pointed out that “KRPC recognises the unique role the mass media play in the development of any nation given their invaluable contribution to governance as a watchdog and partner in progress.”
He went on: “Nigeria, being a country whose budget is funded largely through revenue from crude oil sales, has a media that constantly demands transparency and accountability in the oil and gas sector and given the highly technical nature of the sector, the practitioners must have the required knowledge of this important industry.”
According to the KRPC boss, the O&M business model encourages competitiveness, product sustainability and profitability.“The operating and marketing model means we must review our risk management system to control and or mitigate those factors that would negatively impact on our objectives. We must strengthen the framework by identifying, measuring, prioritising and controlling all the risk factors inherent in our system,” Ladenegan added.
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