The Warri Refinery and Petrochemicals Company has recorded a total income of N5.75bn in the financial year ended 2005.
That result was achieved despite the companys inability to operate at full capacity due to the havoc wreaked on the Escravos Warri crude oil pipeline by vandals.
The amount represents an increase in N596.9m over that recorded in the previous year.
The December edition of NNPC News, an in-house publication of the NNPC, obtained by our correspondent on Wednesday in Abuja, quoted the Chairman of the Board of Directors of the company, Air Commodore David Jang (rtd), as disclosing this at the companys 8th Annul General Meeting, held recently at the Nigerian National Petroleum Corporation Towers, Abuja.
He said The revenue for the year under review stood at N5.75bn, while the companys expenditure was N8.05bn. The total income represents an increase of N596.9m,when compared with the previous year
Jang said the year witnessed a lot of achievements such as the completion of the repair on the Escravos crude oil pipeline, completion of the Turn Around Maintenance in the Fuels Plant Area, Pre-start up activities such as the crude intake and streaming of the lines.
He said the Turn Around Maintenance in the Polypropylene, carbon Black and Utilities Area of the petrochemical plant commenced during the period under review.
He added that a number of other projects were also embarked on to ensure smooth operations of the plant.
In his remarks, the Group Executive Director, Refining and Petrochemicals, NNNPC, Mr. Abubakar Lawal Yar Adua, who represented the Group Managing Director, Mr. Funsho Kupolokun, commended the refinery for its courage to carry on despite the difficulties.
He implored every staff to keep up the good work and promised that NNPC would not stop supporting the company.
Speaking on the difficulties facing the company, Kupolokun, said, These are issues beyond their control. I know they did their best. We wish to do our best through corporate governance to redress such issues, also the Niger Delta issues on the pipeline.�