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NNPC Ltd. Inks Groundbreaking Refinery Pact with PHRC and African Refinery, Igniting Nigeria’s Local Refining Capacity Surge

Boom RadioNG | April 25, 2024

Today marked a significant milestone in the efforts to enhance Nigeria’s local refining capacity as NNPC Ltd. sealed a landmark deal with the Port Harcourt Refining Company (PHRC) and African Refinery. The signing of a share subscription agreement paves the way for the co-location of a 100,000 barrels per day (bpd) capacity refinery within the PHRC complex, signaling a major advancement in the country’s petroleum industry.

NNPC Ltd. Inks Groundbreaking Refinery Pact with PHRC and African Refinery, Igniting Nigeria’s Local Refining Capacity Surge

This strategic move is poised to initiate the process of constructing a new refinery, which, upon completion, will play a pivotal role in supplying Premium Motor Spirit (PMS), Automotive Gas Oil (AGO), Aviation Turbine Kerosene (ATK), Liquefied Petroleum Gas (LPG), and various other petroleum products to both local and international markets. Moreover, this development is expected to create substantial employment opportunities for Nigerians, contributing to the growth and sustainability of the nation’s workforce.

The signing of this agreement underscores NNPC Ltd.’s commitment to bolstering domestic refining capabilities and meeting the increasing demand for petroleum products. It represents a proactive step towards achieving self-sufficiency in refining while also positioning Nigeria as a key player in the global energy market.

With the co-location of this state-of-the-art refinery, the nation’s energy landscape is poised to witness a transformative shift, fostering economic development and reinforcing Nigeria’s position as a significant player in the petroleum industry.

NNPC Ltd. Inks Groundbreaking Refinery Pact with PHRC and African Refinery, Igniting Nigeria’s Local Refining Capacity Surge

This groundbreaking agreement sets the stage for a new era of growth and progress in Nigeria’s refining sector, marking a pivotal moment in the country’s journey towards energy self-sufficiency and economic prosperity.

As Nigeria continues to make strides in its petroleum industry, the partnership between NNPC Ltd., PHRC, and African Refinery stands as a testament to the nation’s unwavering commitment to driving progress, innovation, and sustainable development.

Written by Boom RadioNG

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