The Port Harcourt Refining Company (PHRC) Ltd in Rivers State has officially commenced crude oil processing, marking a significant milestone in Nigeria’s energy sector.
This development was announced on Tuesday by Femi Soneye, the Chief Corporate Communications Officer of the Nigerian National Petroleum Company Limited (NNPCL).
“Today marks a monumental achievement for Nigeria as the Port Harcourt Refinery officially commences crude oil processing. This groundbreaking milestone signifies a new era of energy independence and economic growth for our nation,” Soneye stated.
He lauded President Bola Ahmed Tinubu, the NNPC Board, and the Group Chief Executive Officer (GCEO) Mele Kyari for their dedication to the project.
“Hearty congratulations to President Bola Ahmed Tinubu, the NNPC Board, and the exceptional leadership of GCEO Mele Kyari for their unwavering commitment to this transformative project. Together, we are reshaping Nigeria’s energy future!”
Truck loading operations at the refinery are also set to begin immediately, Soneye added, while affirming that the NNPCL is working diligently to restore operations at the Warri Refinery in the near future.
End of a Series of Delays
This marks the end of a long series of missed deadlines for the refinery, located in Nigeria’s oil-rich Rivers State. Upon assuming office in August 2023, Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, promised that the refinery would begin operations by September 2023.
However, this deadline was postponed to December 2023 and subsequently to April 2024.
Earlier this year, GCEO Mele Kyari reiterated NNPCL’s commitment to enhancing the nation’s refining capacity.
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, and his entourage during an inspection tour of the rehabilitation work progress at the Port Harcourt Refining Company (PHRC) Ltd. plant, in Port Harcourt on Friday.
During an inspection of the PHRC in August 2024, Kyari stated, “We are focused on delivering this rehabilitation project, our two other refineries, and all other investments towards revamping the nation’s refining capacity. We are hopeful that in 2024, this country will be a net exporter of petroleum products.”
The Federal Government had approved $1.5 billion for the refinery’s rehabilitation in 2021. The facility, one of Nigeria’s largest, had been out of operation since 2019.
Boosting Domestic Refining Capacity
Nigeria, one of the world’s largest producers of crude oil, has long struggled with limited refining capacity, relying heavily on imports to meet domestic demand. This reliance has led to costly crude-for-fuel swaps and subsidies that drained foreign reserves.
The launch of the Port Harcourt Refinery follows the commissioning of the Dangote Petroleum Refinery earlier in 2024. The privately-owned refinery began producing petrol, diesel, and aviation fuel, providing a significant boost to Nigeria’s domestic refining capacity.
“These milestones,” Soneye said, “are expected to cushion the impacts of the removal of fuel subsidies, which had driven the price of petrol from N200 to over N1,000 per litre.”
Nigerians are hopeful that with both the Port Harcourt and Dangote refineries now operational, the nation’s energy sector will achieve greater stability, reduce dependency on imports, and lower the cost of petroleum products.
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