Connect with us

Business

Nigeria’s Port Harcourt refinery to refine crude from Q1 2023

Published

on

The Federal Government on Wednesday announced that the Port Harcourt Refinery would commence operations by the first quarter of 2023.

The Minister of State for Petroleum Resources, Chief Timipre Sylva, who gave the announcement said the Port Harcourt refinery would be able to refine 60,000 barrels of crude oil per day from next year.

The contract cost for the rehabilitation of the Port Harcourt refinery was put at $1.5 billion

During a one-day facility tour of the Port Harcourt Refining Company in Eleme Local Government Area of Rivers State, Sylva assured that the federal government remains committed to making the refinery work.

Read also: Nigerian govt pledges to increase security to halt pipeline vandalism, crude oil theft

He added that with the rate at which rehabilitation work was ongoing at the refinery, Nigeria would be refining her crude oil soon.

“We are committed to completing this project on schedule.

“I have extracted that commitment from the project manager that this project is going to go as scheduled and that by first quarter of next year, at least 60,000 barrels of crude oil per day would be delivered to Nigerians from the Port Harcourt Refinery.”

Also speaking, the Chairman of, NNPC Board, Mrs Margery Okadigbo, said the Board was optimistic that when the nation’s refineries begin operations, foreign exchange expenditures would be drastically reduced.

“I think it’s a very welcome development. The sooner we begin to produce domestically, the sooner we will begin to cut off these foreign exchange expenditures and also bring down cost; and then maybe oneday we will be able to run away from subsidy.”

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now

Investigations