The Port Harcourt Refinery in Rivers State has commenced crude oil processing. According to the Chief Corporate Communications Officer of the Nigeria National Petroluem Company Limited (NNPCL) Femi Soneye, the refinery will operate at 60 percent capacity. EDITOR’S PICKS Japa: Russia Opens Doors to Migrants Amid Workforce Shortage Crisis Erupts at Celestial Church of Christ … Read more
The Nigerian National Petroleum Commission (NNPC) has attributed the delay in the much-anticipated take-off of the Port Harcourt Refinery to unforeseen challenges encountered during its rehabilitation, describing the project as a complex brownfield operation. EKO HOT BLOG reports that speaking on Monday, NNPC’s Chief Corporate Communications Officer, Olufemi Soneye, stated that the company had achieved … Read more
The Nigerian National Petroleum Company Limited (NNPCL) has given major petroleum marketers the green light to start lifting premium motor spirit (PMS), commonly known as petrol, from the Dangote Petroleum Refinery. This decision aligns with the existing agreement between NNPCL and the refinery. Under the original agreement, NNPCL was designated as the exclusive distributor of … Read more
Nigeria’s oil marketers are optimistic about the imminent start of commercial production at the Port Harcourt Refinery, following a recent visit by key industry figures. EDITOR’S PICKS ‘Demonstration Continues’ – Lagos Protest Organizers Declares ‘FG’s Policies Major Cause Of Hardship’ – Obaseki Reacts As Edo Protesters Worship On Street LSMTL Targets ISO/17025 Accreditation for Global … Read more
Mele Kyari, NNPC’s Group Chief Executive Officer (GCEO), has assured that the Port Harcourt refinery is set to begin operations in early August. Eko Hot Blog reported that Kyari made this statement on Monday during a session at the national assembly, where economic stakeholders appeared before the Senate Committee on Finance, led by lawmaker Sani … Read more
Eko Hot Blog reports that Anambra South Senator, Ifeanyi Ubah, has hinted on the possibility of a reduction in the pump price of petroleum products. Addressing journalists on Thursday, the lawmaker disclosed that when oil refineries in Nigeria start operating at full capacity, the price of fuel will reduce. He said that fixing the refineries … Read more
Eko Hot Blog reports that Dangote Petroleum Refinery has announced a new selling price for its diesel and aviation fuel. The company disclosed that diesel will now sell at ₦940 per litre while aviation fuel will sell at ₦980 per litre. Editor’s Picks CBN Sells Fresh Dollars To BDC Operators At ₦1,021/$1 BREAKING: Dangote Slashes … Read more
Eko Hot Blog reports that the Nigerian National Petroleum Company Limited (NNPCL) has crashed the depot price of Premium Motor Spirit (PMS), popularly known as petrol, from N640 per litre to N630 per litre. The NNPCL has also disclosed plans to sell directly to independent marketers instead of first taking it to private depots so … Read more
Eko Hot Blog reports that the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Major Energy Marketers Association of Nigeria (MEMAN) foresee a slight decrease in the pump price of Petrol once production resumes at the Port Harcourt Refining Company next month. According to PUNCH, IPMAN and MEMAN have also declared their readiness to … Read more
EKO HOT BLOG reports that the Port Harcourt Refinery is set to start operations following the supply of 475,000 barrels of crude oil by Shell Petroleum Development Company Limited. A statement released by Shell read, “This significant milestone was made possible through intensive preparations, collaboration and the dedication of the Bonny Oil and Gas Terminal, BOGT … Read more
Eko Hot Blog reports a former Group General Manager of Planning at the defunct Nigerian National Petroleum Corporation (NNPC), Babajide Soyode, has raised concerns about the Nigerian National Petroleum Corporation Limited’s (NNPCL) demand for a $2 billion turnover from potential operators interested in taking over the Port Harcourt Oil Refining Company. EDITOR’S PICK: Kano Hisbah … Read more
Eko Hot Blog reports that the Nigerian National Petroleum Company (NNPC) has released its 2022 financial statement, saying that its revenue increased to N8.81 trillion in 2022. The national oil company disclosed this in its audited financial statements on Thursday for the 16-month period ending December 2022. According to NNPP, the document showed that the … Read more
Eko Hot Blog reports that the Nigerian National Petroleum Company Limited (NNPCL) has announced its intention to hand over the operation and maintenance of the Port Harcourt Refining Company to private entities. This strategic move aims to boost the refinery’s reliability and contribute to Nigeria’s fuel supply and energy security. Editor’s Picks BREAKING: Nigeria’s Inflation … Read more
EKO HOT BLOG reports that the Nigerian National Petroleum Corporation (NNPC) has accomplished its commitment to achieving mechanical completion of rehabilitation work on Area 5 Plant at the Port Harcourt Refining Company (PHRC). This pivotal achievement comes following a significant inspection tour and the 15th Refineries’ Rehabilitation Steering Committee Meeting. Mele Kyari, Group Chief Executive Officer … Read more
Eko Hot Blog reports that the Nigerian National Petroleum Company (NNPC) Limited has fulfilled its pledge of achieving the mechanical completion of rehabilitation work on Area 5 Plant of the Port Harcourt Refining Company (PHRC). This was contained in a press statement issued on Thursday by NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye. Editor’s Pick … Read more
Eko Hot Blog reports that the Federal Government has reiterated its commitment to ending petroleum product importation soon, as efforts are being redoubled to restore the nation’s local refining capacity. This was made known by the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, during an inspection tour of the rehabilitation work progress … Read more
Fire has razed Port Harcourt refinery on new year’s day. EKO HOT BLOG reports that fire has razed the Port Harcourt Refinery Company in Eleme Local Government Area of Rivers State. The fire which occured on Saturday morning lasted for less than an hour and has been put out. Read Also: OAU Fresh Student Launches … Read more
The Federal Executive Council last week approved $1.5 billion for the rehabilitation of the Port Harcourt refinery which is said to commence immediately The House of Representatives has mandated its committee on Petroleum Resources Downstream to launch an inquiry with a view to ascertain the true state of the Port Harcourt refinery which the Federal … Read more
Sylva said that going by the way the project was structured, the operations of the refinery would pay back the funds to be used The minister also explained that a commercial discussion between the NNPC and Afreximbank on how the money will be paid from the operations of the refinery is ongoing The Federal Government … Read more
The first phase of rehabilitation is expected to be completed in 18 months while the second and final phase are expected to be completed in 24 and 44 months, respectively. Chairman of the Nigerian Governors’ Forum and Ekiti State Governor, Kayode Fayemi, on Friday, said that more information is needed to justify the rehabilitation of … Read more