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    Elon Musk Makes History As World’s First Trillionaire After SpaceX Stock Market Debut

    Elon Musk Makes History As World’s First Trillionaire After SpaceX Stock Market Debut

    Otedola Sells Geregu Stake To Buy Into Dangote Refinery IPO

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Port Harcourt Refinery Resumes Crude Oil Processing After Multiple Missed Deadlines

The Daily Crucible by The Daily Crucible
November 26, 2024
in Business, News
0
Port Harcourt Refinery Resumes Crude Oil Processing After Multiple Missed Deadlines

 

The Port Harcourt Refinery has finally resumed refining of crude oil, raising the hope of some justifiably disillusioned Nigerians who believed nothing positive could come out from that direction, The Daily Crucible learnt on Tuesday.

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The rehabilitation of the Port Harcourt Refinery began in 2021 with the contractor handling the project, Maire Tecnimont SpA, working on the facility since the about $1.5 billion contract was signed in April 2021 during the administration of President Muhammadu Buhari.

 

The Daily Crucible reports that disappointment – wearied Nigerians lost hope in this critical national asset after multiple delays and shifting of the deadline goal post. Even former President and elder statesman, Olusegun Obasanjo at a time expressed pessimism about the possibility of the refinery working again.

 

Investigation revealed that the
Nigerian National Petroleum Company Limited (NNPCL announced to Nigerians seven separate deadlines for the commencement of oil production at the Port Harcourt Refinery and seven times it failed on its promises as of October 2024, including dates as March, August, and September 2024, all of which passed without fulfillment.

 

However, a presidential aide, Sunday Dare, who disclosed the commencement of crude oil processing at the Port Harcourt refinery using his verified X handle, stated that about 200 trucks are expected to load products daily from the facility and thus, renewing the Hopes of Nigeria.

 

“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,” Dare stated.

 

Also, sources close the NNPC state: “Today (Tuesday) marks a monumental achievement for Nigeria as the Port Harcourt Refinery officially commences crude oil processing. This groundbreaking milestone signifies a new era of energy independence and economic growth for our nation.

“Hearty congratulations to President Bola Ahmed Tinubu, the NNPC Board, and the exceptional leadership of GCEO Mele Kyari for their unwavering commitment to this transformative project. Together, we are reshaping Nigeria’s energy future!”

 

 

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The Daily Crucible Newspaper is an authoritative independent online news medium established to deliver professional journalism for the purpose of fostering Nigeria's unity, progress and greatness, given the heterogeneity of her citizens. We shall vigorously pursue this vision and anchor it on tripod of truth, justice and fairness. We shall feed the public with robust information they need to make informed decision on issues and matters that affect them, promote human - capital development, freedom and free market enterprise. Our loyalty shall be to Nigeria and public interest, and shall respect ethnic, religious and political diversity without being partisan and sectional.

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