PH Refinery: 23 Days to go…
Why We Decided To Fix Port Harcourt Refinery And Not Build New One, By NNPC Boss
Sharp Quote
Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has defended the approval of a whopping $1.5 billion for the rehabilitation of the Port Harcourt refinery, maintaining that apart from following due process, building a new refinery in the class of the one in Rivers will cost the federal government between $7 billion and $12 billion.
Kyari, stated that the decision to revamp the old facility was further taken because constructing a new refinery will take a period of four years, during which Nigeria must continue to import products.
“Simple due diligence was not conducted before those comments were made. They have asked why we don’t just build a new one. What does it take to build a refinery of this status today? It’s anywhere between $7 billion to $12 billion to construct a refinery of this nature. This is what we call battery limit construction. That’s the estimate you see in the public space,” he said.
With less than 23 days to the end of the year, the 53-year-old Port Harcourt refinery is currently under reconstruction with the aim of increasing local production of petrol for domestic use.
Although there is anxiety on the possibility of meeting the December 2023 targets, the Nigerian National Petroleum Corporation (NNPC) said the rehabilitation works is at advanced stage.
The project was awarded in April 2021, at the cost of $1.5 billion
Government officials, their words, their promises below….
Kyari Confirms Port Harcourt refinery will start working in December
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, has confirmed that the Port Harcourt refinery will start working in December 2023.
Kyari made the confirmation on Thursday during his meeting with the Speaker of the House of Representatives, Tajudeen Abbas.
– The Guardian, November 24, 2023
We’ll hold NNPCL responsible for PH refinery December deadline’–Minister
Ahead of the planned resumption of production at the Port Harcourt Refinery Company in December 2023, the federal government says it will continue to hold NNPC Ltd responsible for the timeline announced to Nigerians.
The federal government in August 2023 announced that the Port Harcourt refinery will commence operations in December 2023, while rehabilitation works were in top gear to ensure that both Warri and Kaduna refineries resume operations by the end of 2024.
– SweetCrude, November 21, 2023
Port Harcourt refinery to commence operations December — Tinubu
President Bola Tinubu, on Wednesday night, assured the leaders of the organised labour that the Port Harcourt refinery will commence operations by December 2023.
_ Punch, August 2, 2023
Port Harcourt Refinery Ready This December, NNPC Insists
The Nigerian National Petroleum Company Limited (NNPC), has maintained that the Port Harcourt Refining Company (PHRC) will start operations this December despite pessimism expressed by many Nigerians.
Managing Director of the facility, Ibrahim Onoja, who gave an update on the ongoing work at the plant in a television broadcast, noted that the procurement process for the rehabilitation of the refiner is now 98 per cent completed.
– ThisDay December 5, 2023
