By Obafemi Oredein
Shell PLC's Nigerian unit has announced the resumption of oil supply to the Port Harcourt Refining Company in southern Nigeria. With over 475,000 barrels of crude oil, this move marks a significant milestone for the company.
The Shell Petroleum Development Company of Nigeria, which is set to be sold to a consortium for up to $2.4 billion, completed the supply through its Bonny oil and gas terminal. Following an outage of over five years, supply from this terminal to the refinery has finally resumed.
In December, the Nigerian National Petroleum Company declared the completion of phase-one rehabilitation work at the Port Harcourt refinery. This $1.5 billion project encompasses various crucial phases, including engineering, procurement, construction, installation, and commissioning.
According to Osagie Okunbor, the Managing Director at Shell Petroleum Development Company of Nigeria, future supplies from the terminal will rely on demand.
Nigeria currently has four idle refineries with a combined production capacity of 475,000 barrels a day. The NNPC aims to reduce the country's dependence on imported petrol by getting the Port Harcourt refinery up and running soon.
Osita Nnajiofor, the Installation Manager at the Bonny terminal, described the recommencement of crude oil supply as a significant achievement and a game-changer for both the industry and the country as a whole. This development supports the federal government's goal of ensuring a steady supply of petroleum products to the downstream market, ultimately benefiting the nation's economy.
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