The Nigerian National Petroleum Company (NNPC) Limited has announced an agreement with African Refinery for a share subscription agreement with Port Harcourt Refinery.
with the African Refinery for a share subscription at Port Harcourt refinery.as the legal entity and the bid winner for the Port Harcourt collocation project.
According to a statement on Thursday, the agreement will see the co-location of a 100,000 barrels-per-day refinery within the Port Harcourt refinery complex. “NNPC Ltd.’s move 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 statement reads.
The NNPC had completed the mechanical phase of the turnaround maintenance at the Port Harcourt refinery on December 21, 2023.the refinery would begin production by the end of March.Click on the link below to join TheCable Channel on WhatsApp for your Breaking News, Business Analysis, Politics, Fact Check, Sports and Entertainment News!
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