The Port Harcourt Refining Company in Rivers State has officially resumed operations in accordance with the Federal Government’s vow to ensure the facility’s production of refined products by December 2023.
This followed a $1.5 billion rehabilitation project initiated to restore its capacity to 210,000 barrels per day, aiming to enhance domestic refining and reduce reliance on imported petroleum products
Initially shut down in 2019, the combined processing capacity of Nigeria’s four refineries in Port Harcourt, Warri, and Kaduna stood at 445,000 barrels per day (bpd).
However, the refineries were rendered redundant due to maintenance concerns.
Business Day quoted Amaka Okafor, Special Assistant to the Minister of State for Petroleum Resources, Heineken Lokpobiri, who confirmed the resumption of operation at the refinery as saying, “Yes, the refinery is set, we will visit the refinery site today to kickstart its operation.”
Senator Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), had stated in August that the refinery will reopen in December.
Lokpobiri said this during an inspection tour of the PHRC Ltd. plant’s restoration work in progress.
Meanwhile, it is believed that the resumption of refinery activity in the facility and the commencement of a similar exercise at the Dangote Refinery will improve the supply of fuel in Africa’s largest oil producer and allow the country to make savings on refined fuel and other petroleum products.
With the removal of subsidy on fuel, the move is also expected to impact on the cost of the product.