Video: More Competition for Dangote as Port Harcourt Refinery Finally Commences Crude Oil Production
- The Port Harcourt Refining Company (PHRC) Ltd in Rivers State has commenced crude oil processing
- NNPC’s spokesperson revealed that the Nigerian government's oil plant is currently running at 60% capacity
- He claimed that this historic achievement marks the beginning of a new era for our country's economic development
Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.
Crude oil processing has now begun at Rivers State's Port Harcourt Refining Company (PHRC) Ltd.
Source: Getty Images
Femi Soneye, the chief corporate communications officer for the state-owned oil company, verified this information via his X handle with a video of the refiinery.
Soneye said truck loading will also commence on Tuesday (today), November 26th 2024.
He disclosed that the oil facility owned by the Nigerian government is currently operating at 60 per cent capacity.
The refinery, located at Alesa Eleme in Port Harcourt, has an installed capacity of 150,000 barrels per day but according to the NNPC, is producing about 90,000 barrels per day at the moment, with plans to ramp up production in the coming months.
“Today marks a monumental achievement for Nigeria as the Port Harcourt Refinery officially commences crude oil processing. This groundbreaking milestone signifies a new era of energy independence and economic growth for our nation,” Soneye said on Tuesday.
“Hearty congratulations to President Bola Ahmed Tinubu, the NNPC Board, and the exceptional leadership of GCEO Mele Kyari for their unwavering commitment to this transformative project. Together, we are reshaping Nigeria’s energy future!”
Recall that two months after the September 2024 deadline given by the Nigerian National Petroleum Company Limited (NNPC) for the completion of the Port Harcourt Refinery, the company has explained why it could not deliver the stated date.
Olufemi Soneye, NNPC's chief corporate communications officer, said the company encountered risks and challenges during rehabilitation.
Soneye disclosed that the state oil firm began commissioning critical equipment and processing units after the mechanical completion.
Dangote speaks on competing with Port Harcourt refinery
Legit.ng reported that Dangote Petroleum Refinery has stated that deregulation does not grant permission to import petroleum products that do not meet specifications.
This followed an earlier allegation by the refinery that an international trading company is planning to blend substandard products close to its plant.
The CEO of Pinnacle Oil and Gas, Robert Dickerman, responded by refuting the accusation and stating that the company would never import or try to distribute any subpar or off-spec goods into the Nigerian market.
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Source: Legit.ng
