An oil and gas expert has said that the upcoming operation of both the Port Harcourt and Dangote refineries may lead to a slight decrease in the cost of petroleum products, rather than a significant price crash. The expert revealed this during an interview with the News Agency of Nigeria (NAN) in Abuja on Sunday.
An oil and gas expert has said that the upcoming operation of both the Port Harcourt and Dangote refineries may lead to a slight decrease in the cost of petroleum products , rather than a significant price crash . The expert revealed this during an interview with the News Agency of Nigeria (NAN) in Abuja on Sunday. He noted that ancillary expenses such as freight and port charges could have been eradicated to achieve this marginal reduction.
On December 21, the Federal Government announced the mechanical completion and flare start-up of the Port Harcourt Refining Company Limited (PHRC), with phase two set to commence in 2024, as stated by the Minister of State for Petroleum (Oil), Sen. Heineken Lokpobiri. This development marks the beginning of petroleum product production following the Christmas break. The PHRC consists of two refining units, with the old plant boasting a refining capacity of 60,000 barrels per day (bpd) and the new plant 150,000 bpd, totalling 210,000 bp
Oil Gas Expert Refinery Petroleum Products Cost Decrease Price Crash Port Harcourt Dangote Nigeria
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