Business and Economy By September 2022, the NNPC expects to deliver refined...

By September 2022, the NNPC expects to deliver refined goods from the Port Harcourt refinery.

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According to the Nigerian National Petroleum Corporation (NNPC), the Port Harcourt Refinery, which is undergoing a $1.5 billion renovation, will begin delivering refined goods in September 2022.

This comes after the NNPC formally inked a deal with Tecnimont SPA for the refinery’s renovation in April 2021.

According to the Nigerian National Petroleum Corporation, the $1.5 billion restoration of the Port Harcourt Refining Company has begun in full, and a portion of the plant will begin delivering refined goods by September next year.

On April 6, the NNPC and Tecnimont SPA signed a contract for the $1.5 billion PHRC rehabilitation project, and the parties to the agreement confirmed the project’s start.

One investment
According to Punch, Kennie Obateru, Group General Manager, NNPC Group Public Affairs Division, assured Nigerians that some parts of the facility would deliver products in September 2022, and that the entire rehabilitation program would be completed in 44 months because the contractor had already mobilized to the site.

What the General Manager of the NNPC Group has to say
“The work is progressing,” Obateru remarked. We estimated that it would take 18 to 44 months to complete, starting in April of this year. By the end of the year, a portion of the refinery will be operational. The entire rehabilitation project will take 44 months to complete.

“The reason we indicated between 18 and 44 months is that the refinery will not start producing until the end of 44 months, but some sections of the refinery will start producing in 18 months.”

When questioned if the facility would generate refined petroleum products in 18 months, Obateru responded, “Yes, some components of the plant will be producing (products).”

What you need to know
On April 6, 2021, NNPC signed an Engineering, Procurement, and Construction (EPC) contract for the restoration of Port Harcourt Refining Company with Tecnimont SpA, a subsidiary of Maire Tecnimont.

Read Also: Wike: I’m Not Happy With NNPC For Bringing People From Gombe To Port Harcourt International Airport

The NNPC stated that the monies authorized for the 210,000 barrels per day capacity refinery were for total rehabilitation and not turnaround maintenance, which is why the Federal Government is spending the massive sum of $1.5 billion on it.

Despite being a major exporter of crude oil in Africa, Nigeria now imports refined petroleum products from other countries, with NNPC being the sole importer of petrol into the country for almost three years and spending significant subsidies on the commodity.

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