Market News
Fuel output drops by 1.4m liters daily as maintenance resumes at PH refinery - BUSINESSDAY
Nigeria’s premium motor spirit (PMS) output, which rose to an estimated 71.6 million litres daily on the back of the Port Harcourt Refinery (PHRC) returning to production in November 2024, has again dropped by 1.4 million litres.
This followed the announcement by the Nigerian National Petroleum Company (NNPC Ltd) of the ‘Planned Maintenance Shutdown of PHRC’ from May 24, 2024.
In a statement signed by Olufemi Soneye, Chief Corporate Communications Officer, on May 24, 2024, NNPC said the Port Harcourt Refining Company (PHRC) will undergo a scheduled maintenance and sustainability assessment, which will commence on May 24, 2025.
Soneye said, “We are working closely with all relevant stakeholders, including the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), to ensure that the maintenance and assessment activities are carried out efficiently and transparently.
“NNPC Ltd. remains steadfast in its commitment to delivering sustainable energy security for Nigeria.
“Further updates will be provided regularly through our official channels, including our website, media platforms, and public statements,” he said.
In spite of public misgivings over the fact that the PHRC is going into maintenance “only months after it had started working,” stakeholders in the industry are yet to react to the development.
The Port Harcourt Refinery resumed operations in November 2024 after being offline for about three and a half years.
Its range of products daily, included: 1.4 million litres of Premium Motor Spirit (petrol), 1.5 million litres of diesel (Automotive Gas Oil), 900,000 litres of kerosene, 2.1 million litres of low-pour fuel oil (heavy fuel oil) and Liquefied Petroleum Gas (LPG) in unspecified volumes.
