ADDRESS OF ENTERPRISE
Ekpan – Warri
P.M.B 44, Effurum
This refinery is located at Warri in Nigeria’s Delta State and was commissioned in 1978. Warri is a complex conversion refinery with a nameplate distillation capacity of 6,250,000 MTA (125,000 bpd). The refinery complex includes a petro-chemicals plant commissioned in 1988 with production capacities of 13,000 MTA of polypropylene and 18,000 MTA of carbon black. The refinery supplies markets in the south and southwest regions of Nigeria.
MAIN PLANT FACILITIES
The Company has fuel plants and petrochemical plants as follow:
- NHU –
- KHU – Kerosene Hydrotreating Unit
- FCC –
- HF Alkylation
- Carbon Black
The refinery has all the utilities (on site) required for its operation. The installed capacities of the utility plants are shown below:
- Power – There is a total installed electric power generating capacity of 125 MW
- Steam – the company has a power plant that has an installed high-pressure steam generating capacity of 545 T/Hr from 3 Boilers, 2 Hrs units, a CO Boiler in the FCC unit & CRU Heat recovering unit
- 1,600 NM 3/Hr capacity Nitrogen plant with compressed air facility
- Potable water treatment plant
- Waste water treatment plant just upgraded and rehabilitated
- Crude Oil storage capacity of 273,600 M3 sufficient for about 14 days operations
- Crude Oil supply to WRPC is from Escravos, which is an island about 80Km from the refinery
- A jetty with facilities for fuel oil, diesel, & PMS import & export as well as an ethylene import and storage facilities
- Truck loading facilities for product evacuation
- A futuristic railroad for products evacuation
The refinery produces various yields of crude oil by- products as shown below:
- LPG (propane and butane)
- Kerosene – HHK (Household Kerosene)
- Fuel Oil
PERFORMANCE OF THE ENTERPRISE
The refinery has a capacity of 125,000 B/D. However it has never achieved full capacity utilization as production has declined steadily except the early 1990’s, during which there was a brief upswing in production.
The inefficient operation of the refinery could be attributed to these main issues listed below which, if resolved, will ensure that the refinery could be run at an optimum capacity.
- Refurbishing of the existing utilities of the plant so that they would perform at optimum and meet all the operational requirements of the refinery.
However, a turn around maintenance has been completed recently, which is expected to greatly enhance refinery performance including throughput volume and product yield.
FINANCIAL SUMMARY: 1998 – 2002
|PROFIT AND LOSS ACCOUNT||N’000||N’000||N’000||N’000||N’000|
|(Loss)/profit for the year after tax||(494,765)||(270,530)||(3,138,762)||178,560||(881,533)|
|Earnings per share||N98.95||N54.11||N627.75||N35.71||(N176.31)|
|Net assets per share||N325.68||N379.79||N1,007.54||N944.02||N1,120.32|
The Refinery operating at 90 – 95% capacity and with current crude prices is expected to recoup its investment and make profits in just a few years of operations.