NNPC Inks Deal for 100,000bpd Facility at Port-Harcourt Refinery

The Nigerian National Petroleum Company (NNPC) Limited has announced the signing of an agreement with African Refinery for a share subscription agreement with Port-Harcourt Refinery.

According to the state-owned oil company, the agreement will see the co-location of a 100,000 barrels per day (bpd) refinery within the Port-Harcourt Refinery complex.

This was made known in a press statement on the company’s official X handle detailing the nitty-gritty of the deal.

According to the NNPC, the new refinery, when operational, will produce PMS, AGO, ATK, LPG for both the local and international markets.

It stated, “NNPC Ltd.’s moves to boost local refining capacity witnessed a boost today with the signing of share subscription agreement between NNPC Limited and African Refinery Port Harcourt Limited for the co-location of a 100,000bpd capacity refinery within the PHRC complex.”

“The signing of the agreement is a significant step towards setting in motion the process of building a new refinery which, when fully operational, will supply PMS, AGO, ATK, LPG, and other petroleum products to the local and international markets and provide employment opportunities for Nigerians.”