In a significant development for Nigeria’s energy sector, the Nigerian National Petroleum Corporation Limited (NNPCL) has announced the imminent completion of the test runs at the Port Harcourt refinery, marking a crucial step towards the facility’s full-scale operation after a five-year shutdown.
NNPC spokesperson, Femi Soneye, emphasized the importance of the upcoming phase, stating, “Testing will conclude shortly, ensuring the refinery’s efficient operation. That phase will be completed this month,” as reported by Reuters.
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The completion of this phase follows the mechanical rehabilitation of the Area-5 Plant, announced by the state-owned oil company in December.
According to Soneye, the first phase of the plant has been successfully completed, and the refinery is poised to refine 60,000 barrels of crude oil Ejes Gist News-Christmas break. Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, confirmed the accomplishment of the first phase on December 20, 2023, expressing expectations for refined products’ production to commence after the Yuletide season.
The resumption of operations at the Port Harcourt refinery is anticipated to alleviate the strain on Nigeria’s foreign exchange, especially when coupled with the imminent inauguration of the Dangote Refinery later this year. Industry experts, however, caution against expecting a massive price crash, stating that although the cost of refined products may decrease, it won’t lead to a significant reduction, as reported by The PUNCH.
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The completion of the test runs signals a positive turn for the country’s refining capacity and raises hopes for increased energy self-sufficiency, contributing to economic stability and reduced dependence on foreign imports. The Port Harcourt refinery’s revival aligns with broader efforts to strengthen Nigeria’s position in the global energy landscape.
