Emmanuel OchayiThe Nigerian National Petroleum Company Limited (NNPCL) has announced the completion of a state-of-the-art 150 million litres storage facility at Atlas Cove, ahead of the full-scale operations of the Port Harcourt Refining Company.
The company, in a documentary, disclosed its commitment to enhancing the downstream sector’s efficiency through strategic investments.
Join our WhatsApp Channel“The mechanical completion of the Port Harcourt refinery marks a major breakthrough,” declared NNPC Ltd. The national oil company highlighted achievements, ranging from concluding crude oil swap arrangements to the rehabilitation of pipelines and storage facilities nationwide.
In a significant move, the company revealed the creation of an aviation arm that will supply fuel to international carriers, including British Airways, Qatar, and Air Morocco.
The Managing Director of Port Harcourt refinery, Ibrahim Onoja, emphasized the meticulous planning behind the rehabilitation efforts. “The rehabilitation is so structured. It is based on a very firm foundation that we knew from the beginning that it will deliver,” stated Onoja.
READ ALSO: Why NNPCL Will Hand Over Port Harcourt Refinery To Private Operators
On 21 December 2023, the Federal Government announced the mechanical completion of the Area-5 Plant of the Port Harcourt Refining Company, setting the stage for the facility to refine 60,000 barrels of crude oil daily after the 2023 Christmas break.
The Port Harcourt Refinery, operational since 1965, received a $1.5 billion budget for renovation and modernization in March 2021.
NNPCL’s downstream retail arm showcased remarkable achievements, distributing over 14 billion litres of white products in 2023. The company’s 900 retail outlets played a pivotal role in this accomplishment. The firm’s foray into aviation fuel supply, marked by the rebranded NNPC Aviation, is set to service airlines globally.
As the sole importer of refined petroleum products into Nigeria, NNPCL positions itself for a transformative impact on the nation’s energy landscape. With the imminent operations of the Port Harcourt refinery and the upcoming Dangote refinery, Nigeria anticipates a boost in domestic refined product availability, signaling positive strides for the country’s energy sector.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
Follow Us