Private operators will take over the Port Harcourt refinery from NNPCL.
The Nigerian National Petroleum Company Limited has completed arrangements to turn over the government refinery to private operators when the Port Harcourt oil refinery comes online.
According to the NNPCL, it is looking to hire respectable and legitimate companies for operations and maintenance in order to run and look after the Port Harcourt Refining Company.
"To ensure reliability and sustainability towards meeting the nation's fuel supply and energy security obligations," it stated, was the purpose of this.
The NNPCL stated in a Monday website post that the contract's scope will encompass various refinery business processes, including long- and short-term planning for production and operations, production and operations execution, monitoring, reporting, and optimization of operations, maintenance execution, environmental management, health and safety, minor projects, and others.
A minimum average annual turnover of at least $2 billion USD for the fiscal years ending in 2019, 2020, 2021, and 2022, respectively, is what NNPCL urged interested enterprises to demonstrate.
For the purpose of testing it, the NNPCL had started supplying crude oil to the refinery in Port Harcourt.
The Port Harcourt Refining Company's Area-5 Plant in Rivers State underwent mechanical completion of rehabilitation work, as reported by the Federal Government on December 21, 2023.
It stated that the plant's initial phase had been finished and that, following the Christmas break, 60,000 barrels of crude oil will be refined per day.
The Port Harcourt Refinery, situated in Nigeria’s oil-rich Niger Delta region, has been in operation since 1965. Situated in Rivers State, Nigeria, the Alesa Eleme refinery complex is roughly twenty-five kilometers east of Port Harcourt.
A budget of GBP 1.08 billion ($1.5 billion) was agreed by the Nigerian government in March 2021 for the refurbishment and modernization of the refinery complex.
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