THIS MONTH, P’HARCOURT REFINERY WILL FINISH ITS TEST RUN, ACCORDING TO NNPCL

Babatunji Wusu –

According to information released by the Nigerian National Petroleum Company Limited (NNPCL), a test run at the 60,000 barrels per day Port Harcourt refinery will be finished this month.

“Testing will conclude shortly, ensuring the refinery’s efficient operation,” stated NNPCL spokeswoman Femi Soneye. This month will see the completion of that phase.

Soneye continued, “The test run was a critical step toward reopening the plant five years after it had ceased operations.”

The facility’s Area-5 Plant restoration work was deemed mechanically complete by the state-owned oil firm in December.

It said that the first phase of the plant was completed and that 60,000 barrels of crude oil will be refined daily after the Christmas break.

Heineken Lokpobiri, the Minister of State for Petroleum Resources (Oil), stated that the first phase of the PHRC was completed on December 20, 2023, and that refined commodities production would resume following the holidays.

When the plant is up and running, it should ease the pressure on the country’s foreign exchange reserves, particularly when combined with the Dangote Refinery, which is expected to start refining oil this year.

When the refineries start up, the price of refined goods will go down, although analysts don’t think there will be a sharp decline in price.