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WILL PRICE OF PETROL DROP?, NIGERIANS ASK AS PORT HARCOURT REFINERY BEGINS OPERATION
The Nigeria National Petroleum Company Limited (NNPCL) has confirmed that the Port Harcourt Refinery in Rivers State has commenced crude oil processing.
The Chief Corporate Communications Officer of the company, Femi Soneye, announced on Tuesday that the refinery would operate at 60 per cent capacity, processing 60,000 barrels per day (bpd).
“Today 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,” Soneye said on Tuesday.
The development follows years of rehabilitation work that began on May 6, 2021, and several postponements by the NNPC.
Following the announcement of the Port Harcourt Refinery’s operation, netizens took to social media, asking if it would lead to a drop in fuel prices.
A user, @TheoAbuAgada, asked, “Will the operationalization of the Portharcourt Refinery lead to a decrease in fuel prices?”
Similarly, @OkinRahman said, “Okay now we Have seen The BC That Portharcourt Refinery have Started production will Fuel Price Crash??”
Another user, @Jamaicca133, also asked, “Port Harcourt refinery begins production. So the price of PMS is expected to drop right?”
@KennyNuga said, “Nigeria has no reason to import petroleum products in 2025. Dangote refinery and portharcourt refinery will serve Nigeria and the entire West Africa.”
@Chiefudo, “Are we going to have another Dangote refinery experience when it comes to price or are we going to experience something different. Anyway, let’s wait for it to start first.”
