Breaking: Portharcourt Refinery Commenced operations

-

NNPCL GMD

The Port Harcourt Refinery Company Limited (PHRCL) in Eleme, River State, has commenced processing of crude oil today. 

This was disclosed by Nigeria National Petroleum  Company Limited (NNPCL), Chief Corporate Company Communication officer Femi Soneye. 

Portharcourt Refinery at Eleme

This bring the end of series of failed deadline since the refinery was shut down about 5 years ago. 

The removal of the fuel subsidy, a policy implemented by President Bola Ahmed Tinubu's administration, was aimed at addressing the unsustainable financial burden on government resources. 

However, it led to widespread inflation and economic challenges for Nigerians, making the functional operation of local refineries critical for stabilizing the market.

The Port Harcourt Refinery's commencement of crude oil processing is a significant development that is expected to boost Nigeria's refining capacity and reduce its reliance on imported petroleum products. The refinery, with an expected capacity to process 210,000 barrels of crude oil per day, is projected to play a pivotal role in meeting domestic fuel demands.

Similarly, the Dangote Refinery, touted as the largest single-train refinery in the world with a processing capacity of 650,000 barrels per day, promises to significantly augment Nigeria's refining output. The combined operations of these refineries could potentially transform Nigeria into a net exporter of refined petroleum products, aligning with NNPCL's ambitious goals for 2024.

While the rehabilitation of the Port Harcourt Refinery has been plagued by delays and skepticism over its $1.5 billion price tag, its eventual operation offers hope for economic recovery. Experts suggest that consistent production and effective management will be key to sustaining the refinery's output and ensuring its positive impact on the Nigerian economy.

Nigerians now eagerly anticipate the economic relief these developments promise, particularly in mitigating the high costs of fuel and addressing the broader economic challenges tied to energy costs.

Comments

Post a Comment

Popular posts from this blog

FUT Minna to convert it Bosso Campus into Medical College

-
Image
                     Former senate Building at Bosso Campus The Federal University of Technology, Minna (FUTMinna) has announced plans to develop its Bosso Campus into a cutting-edge medical school, aligning with the highest international standards. This initiative is part of a broader collaboration with the Federal Medical Centre, Bida (FMCB), to create a School of Medical Science and Health Technology. The partnership aims to transform FMCB into a University Teaching Hospital, enhancing the quality of medical education and healthcare services. The two institutions took a significant step forward during a meeting on Thursday, November 7, 2024, when FUTMinna's Academic Planning and Development Unit hosted FMCB’s management team to assess the progress of the College of Medical Science development. This collaboration was officially formalized on July 23, 2024, marking a pivotal moment in the advancement of healthcare education and res...
Read more

Over 20 people kidnapped along Mariga -Kontagora - speaker

-
Image
  Over 20 passengers have reportedly been kidnapped on the Mariga-Kontagora road in Niger State, according to Barrister Abdulmalik Sarkin-Daji, the Speaker of the Niger State House of Assembly.  The incident occurred when bandits blocked the road between Baban-Lamba and Beri. Sarkin-Daji expressed concern about the military's dismissal of claims regarding bandit activities near military training grounds in Kontagora,  noting that victims previously kidnapped had reported being held in a forest close to the Kontagora Army Barracks.  He urged the military to take the feedback from affected communities seriously and work to eliminate the bandits operating in the area.  The Speaker emphasized that the military's role is to protect citizens, calling on federal authorities to address the situation effectively.
Read more

FG Fresh recruitment portal opened- FCSC

-
Image
  The Federal Civil Service Commission (FCSC) has announced the opening of its recruitment portal for applications into various vacancies within the Federal Civil Service. This announcement was made by Taiwo Hassan, the head of press and public relations of the commission, in a statement on Monday, January 27, 2025. V acancy Information : Details of the available positions have been published on the Commission's official website ( fedcivilservice.gov.ng ) and in major newspapers such as The Sun , Daily Trust , and The Nation on January 27, 2025 A pplication Link : Eligible applicants are required to apply via the dedicated portal at recruitment.fedcivilservice.gov .ng Candidates are advised to apply for only one position to avoid disqualification.Applicants with physical challenges are encouraged to disclose the nature of their disability in their applications. Interested individuals are encouraged to visit the portal promptly, as recruitment processes typically have deadlines.
Read more