The Port Harcourt Refining Company, PHRC, Limited, with a
combined capacity of 210,000 barrels per day, commenced operation on Wednesday.
According to a video trending online, the refinery’s
flare indicated the commencement of oil refining.
The development comes months after the Minister of State for
Petroleum (Oil) Senator Heineken Lokpobiri said in August that the Port
Harcourt refinery will commence operation in December 2023.
According to the Minister, the objective is to ensure the
country stops importing fuel.
Corroborating Lokpobiri’s stance, the Nigerian National
Petroleum Corporation Limited, NNPCL, declared that importing petroleum
products into the country will cease by December 2024.
The Group Chief Executive Officer of the NNPCL, Mele Kyari,
said, “I can confirm to you that by the end of December this year, we will
start the Port Harcourt refinery; early in the first quarter of 2024, we will
start the Warri refinery, and by the end of 2024, Kaduna refinery will come
into operation.
In March 2021, the Federal Executive Council approved $1.5
billion to rehabilitate the Port Harcourt Refinery.
Accordingly, data showed that the Nigerian government has
spent N11.35 trillion ($25 billion) in the past ten years on fixing the
country’s three refineries.
Meanwhile, with the commencement of Port Harcourt Refinery,
stakeholders in the downstream sector said the price of fuel, which is over
N617/litre, may drop.
Video:
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— Pastor Okezie J. Atañi... (@ONsogbu) December 20, 2023
Port-Harcout Refinery is Alive
Congratulations to the Good People of the Federal Republic of Nigeria.
Renewed Hope is Alive
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