The Port Harcourt refinery, with a capacity of 210,000 barrels per day, is expected to commence operations by the end of July after multiple delays.
This was announced on Monday by Chief Ukadike Chinedu, the National Public Relations Officer of the Independent Marketers Association of Nigeria.
According to him, the refinery’s operational start would boost economic activities, lower petroleum product prices, and ensure adequate supply.
Valid View Reports that the refinery, consisting of two units with capacities of 60,000 and 150,000 barrels per day respectively, underwent a major turnaround starting in March 2019.
This involved securing technical advisory services from Italy’s Maire Tecnimont and oil major Eni. Despite the initial mechanical completion announcement in December by Minister of State for Petroleum Resources, Heineken Lokpobiri, actual operations have been delayed.
On March 15, 2024, NNPC Limited’s Group Chief Executive Officer, Mele Kyari, stated that the refinery would begin operations in about two weeks.
However, this promise went unfulfilled, leading to further delays.
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In a recent update, Ukadike confirmed that significant progress had been made, transforming the refinery with new equipment and round-the-clock work to meet the July deadline.
He acknowledged past delays but emphasized that the refinery is now 99 percent ready, with no major challenges remaining.
The announcement of the refinery’s operational timeline aligns with the proposed start of petrol production at the Dangote Refinery by the end of June. Aliko Dangote, Chairman of the Dangote Group, stated that the refinery would eliminate Nigeria’s need to import petrol.
This could save the government approximately N6.2 trillion annually, given Nigeria’s monthly import expenditure of around N520 billion for PMS.
The NNPCL’s Chief Corporate Communications Officer, Femi Soneye, mentioned that the final hurdle for the Port Harcourt refinery is obtaining regulatory approvals from international bodies.
He confirmed that mechanical completion and crude oil transport systems are in place, with Shell supplying the crude. Once these approvals are received, operations will commence.
Overall, the imminent operation of both the Port Harcourt and Dangote refineries is expected to create competition, potentially reducing petrol prices and benefiting the Nigerian economy.
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