As a matter of indices, when we refine a barrel of crude oil of 42 gallons or 159 litres, we get products as follows: gasoline or PMS (19.4 gallons or about 73 litres which is about 47 percent), Kerosene or Jet fuel (10 percent), diesel and heating oil (23 percent), propane 4 percent, asphalt 3 percent, other products (petrochemical feedstock derived from manufacturing of chemicals Synthetic rubber and plastics) 18 percent. It gives 105 percent because there is always 5 percent refining gains. If our four refineries were functioning, the 445,000 barrels which they claim they refine, would give us 209,150 barrels which translates to 33,000,000 litres of gasoline or PMS. One knows that we do not consume more than 35 million litres per day. So who is fooling who here.
As of 2015, the following net importers of petroleum have refineries in this order: China (51 refining 12.6 mbpd) Japan (29 refining 4.1 mbpd), India (21 refining 4.3 mbpd), Germany (15 refining 2.1 mbpd), France (13 refining 1.5 mbpd), Italy (16 refining 2.1 mbpd) and South Korea (6 refining 2.9 mbpd). The United States only imports crude to augment the shortfall for her 139 functional refineries refining 17.8 mbpd to keep their economy going. The US does not import refined products. They derive the full benefits of petroleum by refining their products locally. Nigeria is among the top fifteen world producers of petroleum. Incidentally, Nigeria is the only one that exports all her crude and imports virtually all her refined products and their derivatives. This is the reason we place our budget bench mark on the sale of crude in the international market. We sell a barrel of crude for less than $66 and buy all the by-products and derivatives for as much as $3000.

It is on record that India as a net importer of petroleum has the world’s largest refinery (Jamnagar Refinery Gujurat) with about 1.24 million barrels per day capacity. China with a population of 1.3 billion people meets her domestic demand and also exports to other regions. The Organisation of Petroleum Exporting Countries (OPEC) has refineries in this order: Saudi Arabia (10 refining 2.5 million barrels per day), Iran (9 refining 1.7 mbpd), UAE (4 refining 0.7 mbpd), Kuwait (3 refining 0.91 mbpd), Venezuela (12 refining 1.8 mbpd), Iraq (11 refining 0.83 mbpd), Algeria (5 refining 0.65 mbpd), Angola (2 refining 0.04mbpd), Libya (5 refining 0.38 mbpd), Qatar (3 refining 0.14 mbpd), and Ecuador (2 refining 0.19mbpd). All their refineries are working and meet their requirements and for export. This is the Nigerian case. Nigeria has four refineries, two in Port Harcourt (1st P/H 60,000 bpd and 2nd P/H 150,000bpd), and one in Warri (125,000 bpd) and one in Kaduna (110,000 bpd) with a combined refining capacity of 445,000 barrels per day. The oldest in Port Harcourt was built in 1965 and the newest still in Port Harcourt was built in 1989. Warri and Kaduna came on stream in 1978 and 1980 respectively, they have for almost two decades been down due to inadequate maintenance. It has been gory tales of turn around maintenance (TAM) with millions of dollars wasted at regular intervals in our harvests of misfortune. Today, we are talking about local importers or marketers holding us to ransom as to how and when we get products supply. Tomorrow we may be talking about international petroleum products suppliers refusing us supplies. One can imagine the confusion in our national life and psyche. The Digboi Refinery in Assam, India reputed to be the oldest in the world, built in 1901 is still functioning till today so what is wrong with this country?