Oil Prices Surge as US Sanctions Tighten Grip on Russian Exports
Port Harcourt Refinery To Supply 200 Trucks Daily, Says Presidency
The Federal Government of Nigeria has said that 200 trucks are set to load petroleum products daily from the Port Harcourt Refinery.
Speaking on his X handle on Tuesday, the Special Adviser on Public Communications and Orientation to the President, Sunday Dare, said that the refinery’s Old Wing has resumed operations with a production capacity of 60,000 barrels of crude oil per day.
“The Port Harcourt Refinery has two Wings. The Old Refinery comes on stream today with an installed production capacity of 60, 000 barrels per day of crude oil.
“About 200 trucks are expected to load products daily from the refinery Renewing the Hopes of Nigeria,” he confirmed.
Earlier, the Nigerian National Petroleum Company (NNPC) Limited announced the commencement of crude oil processing at the government-owned facility.
Following a string of missed deadlines, production at the Port Harcourt refinery has begun.
One of the largest refineries in the nation was shut down two years prior, and the Federal Government approved $1.5 billion (1.2 billion euros) in 2021 to rehabilitate the plant.
Nigeria has historically relied on the importation of petroleum products due to a lack of local refining capability, even though it is one of the biggest producers of crude oil. The price of gasoline increased in 2023 after President Bola Tinubu declared an end to the subsidy system.