The Port Harcourt Refining Company (PHRC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), has announced a record net profit of N11.2 billion for last December, representing N8.2 billion or 250 per cent above the N3.2 billion posted by the company in preceding November 2014.
The Managing Director of the company, Dr. Bafred Enjugu, who disclosed this in a statement on Thursday, attributed the improved financial performance to the phased rehabilitation programme and resumption of crude supply to the plants.
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