Port Harcourt Refinery Test Run To Be Completed This Month
The 60,000 bpd Port Harcourt refinery's test runs are scheduled to conclude this month, according to the Nigerian National Petroleum Corporation Limited
“Testing will conclude shortly, ensuring the refinery's efficient operation. That phase will be completed this month,” Reuters quoted NNPC spokesperson, Femi Soneye, as saying
Soneye went on to say that the test run was a significant step toward starting up again five years after the plant closed.
The state-owned oil company announced in December the mechanical completion of rehabilitation work on the Area-5 Plant of the facility.
It stated that the plant's initial phase had been finished and that, following the Christmas break, 60,000 barrels of crude oil would be refined every day.
The first phase of the PHRC was finished on December 20, 2023, according to Senator Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), who also mentioned that production of refined products would start after the holidays.
When it's operational, the facility should relieve some of the pressure on the nation's foreign exchange reserves, especially in conjunction with the Dangote Refinery, which is anticipated to begin refining oil this year.
When these facilities begin pumping, the price of refined products will go down, but experts and downstream operators said there won't be a significant price collapse.
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