More Praise for NNPC Over the Resumption of Production at PH Refinery
- The African Refinery Group has commended NNPCL for the reopening of the Port Harcourt Refinery after four years of inactivity
- ARG also showed praise for the determination of the Tinubu administration to ensure the refinery begins production
- With the Port Harcourt refinery, Nigeria now has more options for crude oil production, giving hope of cheaper fuel price
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian National Petroleum Company Limited (NNPCL) has been praised for successfully resuming crude oil processing at the Port Harcourt Refinery.
The Port Harcourt Refinery, which was shut down in 2019, was brought back to life on Tuesday, November 26, 2024.
Source: Getty Images
Big praise NNPC, Tinubu's govt
In a statement issued by Omotayo Adebajo, Executive Director of Subsidiaries for the African Refinery Group (ARG), the organisation lauded NNPCL for the PH refinery achievement.
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ARG also revealed that it is one of the four companies granted concessions under a Public-Private Partnership with NNPCL for the refinery's rehabilitation.
Adebajo said:
“We are proud. This collaboration includes the operation of key downstream supply and distribution facilities, such as the newly reopened Port Harcourt Refinery Terminal facilities."
Adebajo described the refinery's reopening as a landmark achievement, highlighting the Tinubu administration's bold vision, the strategic leadership of the NNPCL Board, and the relentless efforts of NNPCL's subsidiaries, according to Punch.
He added:
“The African Refinery Group celebrates this historic accomplishment as a beacon of hope for Nigeria’s energy sector, underscoring the power of strategic partnerships and determination in driving the nation’s industrial growth."
NNPC suspends petrol imports by marketers
Legit.ng earlier reported that the Nigerian National Petroleum Company Limited (NNPC) had directed oil marketers to halt petrol imports, stating that the Dangote Refinery had sufficient capacity to meet domestic needs.
According to reports, the directive came amid a high-level meeting in Abuja attended by NNPC Group CEO Mele Kyari, representatives of the Major Oil Marketers Association of Nigeria (MOMAN), Depot and Petroleum Products Marketers Association (DAPPMAN), and key stakeholders.
Representatives of 11 PLc, Matrix, AA Rano, and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) were also present at the meeting.
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Source: Legit.ng
