The Nigerian National Petroleum Company Limited (NNPCL) has announced that the Port Harcourt Refining Company (PHRC) is on track to conclude its test run in January 2024. Femi Soneye, the spokesperson for NNPCL, revealed this in a recent interview, expressing confidence in the refinery’s upcoming operational efficiency.
Upon completion of the test run, the PHRC is poised to commence processing 60,000 barrels per day, with ambitious plans to scale up to a maximum capacity of 210,000 barrels per day later in the year.
NNPCL’s commitment to fulfilling its promises regarding the mechanical completion of the Port Harcourt refinery was reaffirmed, marking a significant milestone in the ongoing efforts to revitalize the country’s refinery infrastructure.
It is worth noting that the Nigerian Federal Executive Council approved a substantial $1.5 billion for the rehabilitation of the Port Harcourt Refinery in March 2021. Additionally, data has revealed that the Nigerian government has allocated a staggering N11.35 trillion ($25 billion) over the past decade towards the maintenance and enhancement of the country’s three refineries.
The impending operational resurgence of the Port Harcourt Refinery holds considerable implications for Nigeria’s oil and gas sector, signaling a potential boost to the country’s refining capacity and energy security. As the global energy landscape continues to evolve, the successful revitalization of the PHRC stands as a pivotal development with far-reaching ramifications for both domestic and international stakeholders.
