After years of inactivity, signs of a potential restart for the Port Harcourt refinery have emerged as Shell Petroleum Development Company Limited (SPDC) revealed the delivery of 475,000 barrels of crude oil to the refinery this week.
The Port Harcourt Refinery, one of Nigeria’s four state-owned refineries, has faced prolonged neglect and deterioration, prompting the initiation of a $1.5 billion rehabilitation project by the administration of former President Muhammadu Buhari in 2019. The goal of the project is to restore the refinery to its designated capacity of 210,000 barrels per day (bpd).
Highlighting the refinery’s readiness to resume production, reports indicate that the dual-unit plant received a delivery of 475,000 barrels on January 18, 2024. This significant development was confirmed in a statement by Shell’s Bonny Oil Terminal Manager, Osita Nnajiofor, on Friday.
Nnajiofor emphasized the achievement as a game-changer for the industry and the nation, attributing it to the collaborative efforts and dedication of the Bonny Oil and Gas Terminal (BOGT) and Port Harcourt Refinery Company (PHRC) teams. The recommencement of crude oil supply from the Bonny Oil and Gas Terminal to the Port Harcourt Refinery is considered a substantial milestone with potential positive impacts on the downstream market and the overall economy.
The statement acknowledged the challenges overcome through intensive preparations, collaboration, and dedication, emphasizing the importance of this achievement in supporting the government’s goal of ensuring a steady supply of petroleum products to the downstream market and contributing associated benefits to the nation’s economy.
