The NNPCL has announced that a test run on the 60,000-bpd refinery in Port-Harcourt will be completed this month, followed by a full resume of work later.
The NNPCL’s spokesperson, Femi Soneye, stated on Friday. “Testing will be completed shortly, ensuring the refinery’s efficient operation. This phase will be finished this month.”
The refinery, which is now undergoing repairs, is slated to begin operations at a processing rate of 60,000 barrels per day.
The NNPCL expects to reach its maximum capacity of 210,000 barrels per day later this year.
The Port Harcourt refineries are part of Nigeria’s state-owned refineries, which have been dormant for some years. However, as part of a strategy to lessen the country’s reliance on imported refined products, the government is working to revitalise these refineries.
The NNPCL stated in December that the Area 5 component of the Port-Harcourt refinery had been successfully completed, including mechanical completion and flare start-up.
The federal government approved a $1.5 billion contract in March 2021 to restore the Port-Harcourt refinery, which has a capacity of 210,000 barrels. The Italian business Tecnimont SPA was tasked with the rehabilitation project, which was to be completed in three parts covering 18, 24, and 44 months.
Furthermore, the NNPCL’s CEO has announced that the second phase of rehabilitation works of the Port-Harcourt refinery will be completed by the fourth quarter of 2024.
Nigeria has sought to limit the importation of petroleum products in recent years in order to decouple fuel costs from the volatility of the FX market while also keeping prices under control. The 650,000 bpd Dangote refinery is part of the FG’s aim to end fuel imports, along with refineries in Kaduna and Warri that are expected to reopen by the end of 2024.
Petrol prices have risen by more than 200% since the withdrawal of the fuel subsidy in June, boosting transportation costs for the typical Nigerian.
