Economy Watch

NNPCL Seeks Private Firm to Operate Port Harcourt Refinery

The Nigerian National Petroleum Company Limited (NNPCL) on Monday, January 15, sought to engage a private firm for the maintenance and operation of its Port Harcourt Petroleum Refinery.

In its Twitter handle, which announced the expression of interest, the NNPCL based the decision on its bid to ensure reliability and sustainability towards meeting the nation’s fuel supply and energy security obligations.

“The Nigerian National Petroleum Company (NNPC) Limited is seeking to engage reputable and credible Operations & Maintenance (O&M) companies to operate and maintain one of its refineries, Port Harcourt Refining Company (PHRC), to ensure reliability and sustainability towards meeting the nation’s fuel supply and energy security obligations,” said the state-owned oil firm.

Recalled that the NNPCL had on 15th December 2023 announced the mechanical completion of the rehabilitation of the refinery.

Its Chief Corporate Communications Officer, Olufemi Soneye noted that the rehabilitation work has been ongoing at the Refinery for over two years and the NNPC Ltd. had pledged to complete Phase One of the project (mechanical completion and flare start-up) of Old Port Harcourt Refinery (Area 5) by 31st December 2023.

Speaking during an inspection tour of the rehabilitation project, which also coincided with the 15th Refineries’ Rehabilitation Steering Committee Meeting, the Group Chief Executive Officer, NNPC Ltd., Mr. Mele Kyari, said as of December 15th, 2023, 84.4% of Area 5 Plant, a key component of the Refinery, and 77.4% of the entire rehabilitation project have been completed.

“In our quest to ensure that this refinery is re-streamed to continue to deliver value to Nigerians, we made a promise that we will reach a mechanical completion of phase one of the rehabilitation project by the end of December and get the other plants running in 2024. Today, we have kept those commitments,” Kyari stated.

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