The Port Harcourt Refining Company, PHRC, Limited, which has a total capacity of 210,000 barrels per day, began operations on Wednesday, according to Platinum Times.
According to a video obtained by Platinum Times, the refinery’s flare signaled the start of oil refining.
The news comes months after Senator Heineken Lokpobiri, Minister of State for Petroleum (Oil), stated in August that the Port Harcourt refinery would begin operations in December 2023.
According to the Minister, the goal is to ensure that the country no longer imports fuel.
The Nigerian National Petroleum Corporation Limited, NNPCL, has claimed that imports of petroleum products into the country will halt by December 2024, confirming Lokpobiri’s position.
“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, we will start the Kaduna refinery,” said Mele Kyari, Group Chief Executive Officer of the NNPCL.
The Federal Executive Council allocated $1.5 billion in March 2021 to repair the Port Harcourt Refinery.
According to data, the Nigerian government has spent N11.35 trillion ($25 billion) on repairing the country’s three refineries during the last ten years.
Meanwhile, with the start-up of the Port Harcourt Refinery, downstream players expect the price of petrol, which is currently over N617/litre, to fall.
Breaking News
Port-Harcout Refinery is Alive
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