The Port Harcourt Refinery has resumed production, marking a significant milestone in Nigeria’s oil and gas sector.
This was confirmed by the President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Festus Osifo, during a press briefing at the National Executive Council (NEC) meeting in Abuja on Tuesday.
Osifo revealed that the refinery is now producing diesel, kerosene, and petrol through its distillation unit, following a successful rehabilitation project. He attributed this achievement to rigorous financial oversight and active union participation in managing the project.
Reflecting on previous refurbishment attempts, he noted their limited success due to a lack of transparency and accountability.
However, the establishment of a steering committee—comprising representatives from PENGASSAN and NUPENG—ensured proper management and transparency this time around.
Despite this progress, Osifo warned that the refinery’s impact on fuel prices remains limited due to the naira’s devaluation. “With the exchange rate at about N1,700 to 1 dollar, the cost of goods, including petroleum products, is bound to remain high,” he said.
To sustain the refinery’s success and improve efficiency across other refineries, Osifo reiterated PENGASSAN’s call for adopting the Nigeria Liquefied Natural Gas (NLNG) ownership model.
He urged the government to involve reputable international oil companies with proven expertise in refinery management to replicate the NLNG success story.
