The Port Harcourt Refinery in Rivers State, Nigeria, has reportedly resumed operations after being inactive for over twenty years. The refinery, which has Phases I and II, was built in 1965 and 1989, respectively.
Both phases are operated by the Port Harcourt Refining Company (PHRC), a Nigerian National Petroleum Corporation (NNPC) subsidiary.
Today, the NNPC announced the refinery has started processing crude oil and is loading products for the market.
Femi Soneye, the NNPCL’s Chief Corporate Communications Officer, shared this news on Tuesday.
“Today marks a monumental achievement for Nigeria as the Port Harcourt Refinery officially commences crude oil processing,” Soneye stated.
Port Harcourt Refinery Begins Production; Truck Loading Starts Today, Tuesday! pic.twitter.com/a3C2hyDFfy
— Femi Soneye (@FM_Soneye) November 26, 2024
He said the milestone indicates Nigeria’s new energy independence and economic growth era. He also congratulated President Bola Tinubu and NNPC’s Group CEO Mele Kyari for their dedication to the project.
Soneye declared, “Together, we are reshaping Nigeria’s energy future!”
He claimed that truck loading had began and that, “We are working tirelessly to bring the Warri Refinery back online soon.”
Rehabilitation Dates Back To 2021
However, it must be noted that the extensive rehabilitation work on the refinery began on May 6, 2021, under Muhammadu Buhari‘s administration.
The refinery will initially operate at 60% capacity, processing 60,000 barrels daily, Soneye clarified.
Following the announcement, many observers are anxious to know if this would translate to cheaper fuel prices at the pump.
One commenter expressed doubt, reflecting the disappointment many Nigerians felt when the celebrated 600,000 barrels per day processing Dangote Refinery which started operation earlier this year failed to impact pump prices.
Prices essentially stayed the same.
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