Nigerian oil firm NNPC seeks $1billion prepay to refurbish Port Harcourt refinery

Nigeria’s state oil firm NNPC is in talks to raise around $1 billion in a prepayment with trading firms to refurbish its largest refining complex at Port Harcourt, seven sources familiar with the discussions said. If the financing is concluded, the long overdue rehabilitation of the refinery should reduce Nigeria’s hefty fuel import bill. It… Read More Nigerian oil firm NNPC seeks $1billion prepay to refurbish Port Harcourt refinery

Port-Harcourt refinery producing 5million litres of petrol daily

Port Harcourt Refining Company, PHRC, Nigeria’s biggest refinery, has been re-streamed and is now producing between three and five million litres daily, according to the Nigerian National Petroleum Corporation, NNPC. The re-streaming of the refinery, which had been down for months due to poor maintenance and shortage of crude feedstock, the management said, was aimed… Read More Port-Harcourt refinery producing 5million litres of petrol daily