Nigeria's Refineries Record First Profit in 12 Months

Nigeria's Refineries Record First Profit in 12 Months
Nigeria's three refineries, for the first time since February 2015, have recorded a profit at the close of business in January this year, latest figures from NNPC's financial and operations report have shown.
The report showed that the refineries recorded losses consecutively from February last year up till December; but in January 2016, they made an operating profit of N5.67bn.
The plants are the Warri Refining and Petrochemical Company, (WRPC), Kaduna Refining and Petrochemical Company (KRPC) and Port Harcourt Refining Company (PHRC).
For specifics, the WRPC and PHRC recorded operating profits of N4.391bn and N3.397bn, respectively, while the KRPC had a loss of N2.118bn.
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