Business

PH REFINERY HALTS OPERATIONS, LOADING BAY EMPTY The fanfare that greeted the resumption of activities at the Port Harcourt Refining Company on Tuesday may have melted away leaving the hope and expectations of many Nigerians hanging.A visit by Saturday PUNCH to the refinery on Friday revealed that there was no activity on site, as some workers met by our correspondent …

PH REFINERY: NNPCL WILL FURTHER SLASH PMS PRICE – PETROAN The President of the Petroleum Products Retail Outlet Owners Association, PETROAN, said it is working to ensure that Nigerian National Petroleum Company Limited further reduces the price of Port Harcourt Premium Motor Spirit (Petrol) from N1030 per litre in the coming days. The National President of PETROAN, Billy Gillis-Harry, disclosed …

FIT GROUP TO CONSTRUCT HILTON GARDEN INN IN ENUGU FIT Hospitality & Entertainment Limited, a subsidiary of the FIT Group of Companies Limited, is set to develop a 150-key Hilton Garden Inn Hotel in Heliu Business District, a commercial area of Enugu, as part of a move seen at playing big in the hospitality industry. The construction will be done …

PETROL PRODUCTION: CONTROVERSY SURROUNDS PH REFINERY, NNPCL The operational capacity of the recently rehabilitated Port Harcourt Refining Company faced significant scrutiny on Thursday.Allegations surfaced that petroleum products loaded from the facility on Tuesday were not newly refined but were, instead, products stored in its tanks for over three years. This situation has reignited skepticism surrounding the refinery, which has experienced …

200 TRUCKS LOAD AT PH REFINERY, 150,000 BPD, ELEME PLANT DORMANT After seven postponements, the Port Harcourt Refinery Company has finally commenced fuel production, promising a daily supply of about 200 trucks, as about one million litres of refined products were released by the plant on Tuesday.The Nigerian National Petroleum Company Limited unveiled the refinery on Tuesday, saying the old …

VAT: LAGOS GETS 17%, IMO – 1.716% An analysis of revenue allocation data from Nigeria’s Federation Account Allocation Committee (FAAC) has highlighted some disparities in the redistribution of Value Added Tax (VAT) proceeds among states.Agora Policy, in a data analysis shared on its X account on Tuesday, highlighted inequalities in VAT distribution among states.Data analysis from the policy think tank …

PH REFINERY WILL CRASH FUEL PRICE, CREATE JOBS – IPMAN, PETRAON Stakeholders in the oil and gas industry have said the commencement of production at the Port Harcourt Refining Company will engender competition, crash the pump price of petroleum products and create jobs for Nigerians.Recall that the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari …

OUR MARKETERS PAID N1,045/LITRE FOR PH REFINERY’S PETROL, SAYS PETROAN facebook sharing buttontwitter sharing buttonemail sharing buttonsharethis sharing buttonwhatsapp sharing buttonThe Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) says a litre of premium motor spirit (PMS), also known as petrol, at the revamped old Port Harcourt refinery is N75 higher than the Dangote refinery product. Joseph Obele, the …

PH REFINERY OPERATING AT 70% CAPACITY, TO BLEND 1.4m LITRES OF PETROL PER DAY The Nigerian National Petroleum Company (NNPC) Limited says the rehabilitated old Port Harcourt refinery is currently operating at 70 percent of its installed capacity. The Port Harcourt Refining Company (PHRC) operates two refineries: the old refinery with a capacity of 60,000 barrels per stream day (bpsd) …

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 …