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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.
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, November 26.
Competition for Dangote Refinery
Meanwhile, the operation of the PH refinery is expected to challenge the already operating Dangote Refinery in Lagos.
According to the report, the $20bn refinery processes 650,000 barrels of crude oil daily.
The initial run will see the refinery churn out diesel and aviation fuel before moving on to petrol production.
Despite its status as Africa’s largest oil producer and the continent’s top economy, Nigeria heavily relies on imported fuel and diesel due to the moribund state of the local refineries.
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.