‘Presidency concerned over NNPC’s non-completion of P/H refinery, OB-3 gas pipeline project’ – Source

P'H refinery, gas pipeline project

The Presidency is concerned over the failure of the Nigerian National Petroleum Company (NNPC) Limited to fulfill milestones critical to the goals of President Bola Tinubu’s administration. According to insiders, Special Adviser to Tinubu on policy and coordination and Head of the Central Results Delivery Coordination Unit (CRDCU), Hadiza Bala Usman, expressed these concerns during a review of the quarterly performance assessment of the ministry of petroleum resources (Oil). A source revealed that Usman said the Government is worried about key uncompleted projects by NNPCL. Specifically, the Government official said…

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‘Port Harcourt Refinery almost 90% completed’ – Senate Committee

Port Harcourt refinery 750x375

Senator Patrick Ifeanyi Ubah, Chairman of the Senate ad hoc committee investigating Turnaround Maintenance of Nigeria’s refineries, announced that the Port-Harcourt Refinery is nearing 90% completion and is expected to become operational before the end of the year. This update comes after the Federal Government missed the February 2024 deadline for the refinery’s commencement of operations. During a visit to Rivers State governor, Similanayi Fubara, at the Government House in Port Harcourt, Senator Ubah expressed confidence in the refinery’s progress. He highlighted the committee’s commitment to investigating the work done and…

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Port-Harcourt Refinery misses another deadline to begin production

Barely three weeks after Mele Kyari, the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Ltd., (NNPCL), gave a two-week ultimatum, the Port-Harcourt Refinery, in Rivers State, is yet to commence production. Recall that on March 15, Kyari met the Senate ad hoc committee investigating various turn-around maintenance (TAM) projects of Nigerian refineries and assured that the Port-Harcourt Refinery would begin production in two weeks. He said, “In the next two weeks, production will start. We did mechanical completion of Port Harcourt; that was what we said…

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NNPCL announces date to complete Port-Harcourt Refinery Phase-2

The Nigerian National Petroleum Company Limited (NNPCL) has announced that the Port-Harcourt Refinery Company (PHR ) Limited Phase-2 repair will be completed at the end of the fourth Quarter of 2024. NNPCL Group Chief Executive Officer, Mele Kyari, disclosed this during a recent inspection of Phase-1 completion of PHRC, led by the Minister of State for Petroleum Resources(Oil), Heineken Lokpobiri. Kyari said, “In our quest to ensure that this refinery is re-streamed to continue to deliver value to Nigerians, we made a promise that we will reach a mechanical completion…

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“Don’t hand over Port Harcourt Refinery to cabal” – NLC warns FG

The Nigeria Labour Congress (NLC) has warned the Federal Government against handing over the Port-Harcourt Refinery to cabals. NLC requested an audit of the refinery and charged the Federal Government to purge the refinery of “elements” that led to its collapse in the first instance. The Head of Information, Benson Upah, made this call in an interview with Punch. Naija News had earlier reported that the Federal Government, on Thursday, announced the completion of the Port Harcourt refinery. The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, announced the…

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FG pays $194m for Port Harcourt refinery, plans additional $98m, N17.2bn

The Federal Government has processed $98m and N17.2bn as partial payments for the ongoing rehabilitation of the Port-Harcourt Refining Company, (PHRC), it was learnt, on Friday. It was also gathered that the government had made an initial payment of $194m, being the 15 percent advance payment required for the rehabilitation of the facility, to Tecnimont SpA, of Italy. A report obtained by newsmen from the Nigerian National Petroleum Company Ltd, (NNPC), on the financial status update of the rehabilitation said the project was financed by an equity contribution by the…

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NNPC signs $1.5m contract for Port-Harcourt refinery rehabilitation

The Nigerian National Petroleum Corporation, (NNPC), has signed a contract with an international company, Maire Tecnimont SpA, for the rehabilitation of the Port Harcourt Refinery Company. The contract signing comes amid opposition to the proposed repair by experts, who argued that it is a waste of scarce resources. The Federal Executive Council (FEC) recently approved the sum of $1.5 billion for the project. Speaking during the Engineering, Procurement and Construction (EPC) contract signing ceremony yesterday, the Group Managing Director of NNPC, Mallam Mele Kyari, said: “Mr. President promised Nigerians he…

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Revealed: Moribund Port Harcourt, Kaduna, Warri refineries incur loss of N778bn in five years!

The government-owned refineries, being run by the Nigerian National Petroleum Corporation, reported a total loss of N778.71bn from 2015 to 2019, an analysis of data collated from their financial statements has shown. The refineries generated total revenue of N21.12bn in the five-year period as they operated at below their full capacities. The refineries, which are located in Port Harcourt, Kaduna and Warri, have a combined installed capacity of 445,000 barrels per day. The country relies largely on importation of refined petroleum products as its refineries have remained in a state…

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