GTBank Ad
BusinessHeadlines

BREAKING: Port Harcourt Refinery Resumes Crude Oil Processing After $1.5b Renovation

The Port Harcourt Refinery has officially begun processing crude oil, marking a significant milestone in Nigeria’s energy sector.

This development comes after a $1.5 billion renovation project initiated in 2021 under a Federal Government contract to modernise the facility.

Situated in Alesa Eleme, Port Harcourt, the refinery complex houses two operational units established in 1965 and 1989. They have a combined installed capacity of 210,000 barrels per day.

The older plant processes 60,000 barrels per stream day, while the newer unit handles 150,000 barrels daily.

READ ALSO:

The facility’s resumption will produce key petroleum products, including premium motor spirit, diesel, and liquefied petroleum gas.

The first trucks of petroleum products are scheduled to leave the refinery on Tuesday, 26th of November.

The rehabilitation of the Port Harcourt Refinery signals a broader effort to revitalise Nigeria’s refining capacity and reduce its reliance on imported fuel, a move expected to ease foreign exchange pressures and bolster the economy.

Join Our Community. 👋

Sign up to receive our Daily News Round-Up in your inbox.

We don’t spam! Read our privacy policy for more info.

Join our 👋
email list

Sign up to receive news updates in your inbox.

We don’t spam! Read our privacy policy for more info.

Advertisements

Follow Lagos Post Online Channel on WhatsApp:

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker