Two months after the September 2024 deadline given by the Nigerian National Petroleum Company Limited (NNPC) for the completion of the Port Harcourt Refinery, the company has explained why it could not deliver the stated date.
Olufemi Soneye, NNPC’s chief corporate communications officer, said the company encountered risks and challenges during rehabilitation.
Soneye disclosed that the state oil firm began commissioning critical equipment and processing units after the mechanical completion.
Punch reports that Soneye said the issues have been sorted, and commissioning activities have begun.
He stated that the work is ongoing to ensure the refinery’s completion.
NNPC has remained tight-lipped about the actual completion date for the refinery, whose repairs have lasted for over 24 months, with the completion deadline missed seven times.
The Port Harcourt refinery is one of the three refineries owned by the Nigerian government and managed by the NNPC.
Nigerians had hoped that the fuel price would crash if the facility refined petroleum products to end importation.
The national oil company insisted that it would continue to import petrol, stating that it was no longer the sole distributor at the Dangote refinery.
In March 2021, the federal government obtained a $1.5 billion loan to repair and modernise the facility; however, the project’s contractor has yet to announce its completion.
TimesNow.com.ng reported that the contractor handling the refinery’s rehabilitation declined to disclose the completion date despite a formal request by Femi Falana.
However, Soneye disclosed then that regulatory approvals from international agencies were stopping the commencement of the refinery’s operation.
TimesNow.com.ng earlier reported that the Nigerian National Petroleum Company Limited (NNPC) and other marketers imported over two billion litres of petrol in 42 days from October 1 to November 11, 2024.
As marketers increased petrol, diesel, and aviation fuel imports, local refiners kicked against the development, asking the government to stop issuing import licenses to marketers.
However, oil marketers insisted that the downstream petroleum sector had been deregulated and dealers could source products anywhere.
Proofread by Kola Muhammed, journalist and copyeditor at TimesNow.com.ng
Source: TimesNow.com.ng
