The state-owned Port Harcourt Refinery has officially started producing petroleum products.
This development was announced by Olufemi Soneye, the spokesperson for the Nigerian National Petroleum Corporation (NNPC) Limited, on Tuesday.
Soneye also confirmed that truck loading operations would commence today.
In his statement, Soneye added that efforts are underway to bring the Warri Refinery back into operation.
“Today marks a monumental achievement for Nigeria as the Port Harcourt Refinery officially commences crude oil processing. This groundbreaking milestone signifies a new era of energy independence and economic growth for our nation.
“Hearty congratulations to President Bola Ahmed Tinubu, the NNPC Board, and the exceptional leadership of GCEO Mele Kyari for their unwavering commitment to this transformative project. Together, we are reshaping Nigeria’s energy future,” Soneye added.
Backstory
In August, NNPC’s Group Chief Executive Officer (GCEO), Mele Kyari, announced that the Port Harcourt Refinery was set to commence operations after completing its testing phase.
He also revealed that over 450,000 barrels of oil had been delivered to the refinery in preparation for production.
“All crude lines are active and have actually delivered over 450,000 barrels into Port Harcourt refinery. We are confident of the integrity of it. Yes, there may be security issues, but also government is responding to the situation,” Kyari stated.
The commencement of operations at the Port Harcourt Refinery is expected to significantly boost Nigeria’s fuel supply, potentially positioning the country as a net exporter of petroleum products.
What You Should Know
Despite being an oil-rich nation, Nigeria has relied heavily on importing petroleum products, including fuel. The country reportedly spends over $2 billion annually on petrol imports alone.
- With the operationalization of both the Dangote Refinery and state-owned facilities, Nigeria aims to become a net exporter of petroleum products by 2025.
- The Dangote Refinery, with a capacity of 650,000 barrels per day, is expected to meet local demand while exporting to neighboring countries.
For now, the Port Harcourt Refinery, operating at its current capacity, will primarily cater to domestic needs.
