The Nigerian National Petroleum Company Limited (NNPCL) has dismissed media reports suggesting that the recently resuscitated old Port Harcourt refinery has been shut down.
In a statement released on Saturday, NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, clarified that the refinery is “fully operational.”
“The reports are entirely false. The refinery is operational, as confirmed by former Group Managing Directors of NNPC during a recent visit,” the statement read.
The old Port Harcourt refinery, with a capacity of 60,000 barrels per day, resumed operations two months ago after years of inactivity. Preparations for daily loading operations are ongoing, Soneye added.
During a recent inspection tour, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, and his entourage evaluated the progress of rehabilitation work at the Port Harcourt Refining Company (PHRC) facility.
Soneye urged the public to disregard reports of the refinery’s shutdown, attributing such claims to individuals attempting to create artificial scarcity and exploit Nigerians.
In 2021, the Federal Government approved $1.5 billion for the refurbishment of the Port Harcourt refinery, which had been idle since 2019. Despite being a major crude oil producer, Nigeria has historically depended on importing petroleum products due to insufficient refining capacity.
The reliance on fuel imports and subsidies has strained Nigeria’s foreign exchange reserves, especially during periods of declining oil revenues and currency shortages.
However, the situation began to shift in September 2024 with the commencement of petrol production at the Dangote refinery.
NNPCL’s Group Chief Executive Officer, Mele Kyari, provided an update on the Port Harcourt Refinery, noting that the new 150,000 barrels per day PHRC complex is set to begin operations by mid-2025. Meanwhile, the old refinery, now fully functional, is capable of supplying products for 200,000 trucks daily.
Kyari attributed delays in the refinery’s rehabilitation to the extensive overhaul required to replace its machinery with brand-new components.
Comments are closed.