The Nigerian National Petroleum Company Ltd (NNPCL) is making significant strides in the petroleum industry as it prepares the Old Port Harcourt Refinery for imminent production, setting a potential start date before the year’s end.
The NNPCL has infused the refinery with one million barrels of crude oil, a strategic move following the refinery’s mechanical completion last December. This initiative is part of a broader effort to revitalize Nigeria’s oil refining capacities and reduce dependence on imported refined products. The refinery is gearing up to produce an estimated 170 million liters of Premium Motor Spirit and other petroleum products from the supplied crude.
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The phased production commencement is being considered for as early as August, addressing the pressing demand for local petroleum products. This timeline aligns with NNPCL’s broader objectives to not only meet domestic needs but also to position Nigeria as a future exporter of petroleum products.
The licensing for the refinery’s operation was duly granted by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, underscoring a commitment to adhere to stringent standards and regulatory frameworks. The restoration of the Port Harcourt Refinery is part of a national initiative involving various stages like engineering, procurement, construction, installation, and commissioning, with an investment of approximately $1.5 billion.
Recent updates from the Senate Ad-Hoc Committee investigating the Turnaround Maintenance of Nigeria’s refineries highlight that the rehabilitation of the Port Harcourt Refinery is approximately 90% complete. Ifeanyi Uba, chairman of the committee, confirmed the progress during a visit to Rivers State’s capital, where he met with Governor Siminalayi Fubara.
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As the Old Port Harcourt Refinery moves towards a rejuvenated operational status, it introduces a new era of competition in Nigeria’s refining sector, notably with the Dangote Refinery. This development promises enhanced energy security and economic stability for the nation.
