Port Harcourt Refinery Resumes Oil Production -PENGASSAN

The President of the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, Festus Osifo, has confirmed that the Port Harcourt Refinery has resumed production.

Osifo made this disclosure while addressing newsmen at the end of the National Executive Council, NEC, meeting on Tuesday in Abuja.

He said that the refinery rehabilitation was made possible through stringent financial oversight and the active involvement of unions in the project’s management.

According to him, the refinery is producing products such as diesel, kerosene, and petrol through its distillation unit.

Osifo attributed the past attempts to refurbish the refinery’s little progress to the lack of transparency and accountability.

NNPCL Port Harcourt Refinery

The PENGASSAN boss applauded the establishment of a steering committee, including representatives from PENGASSAN and NUPENG, to ensure transparency and accountability.

Osifo said although the refinery’s functionality is a significant milestone the impact on fuel prices remained limited due to the devaluation of the naira.

According to him, with the exchange rate at about N1,700 to 1 dollar, the cost of goods, including petroleum products, is bound to remain high.

He reiterated PENGASSAN’s call for adopting the Nigeria Liquefied Natural Gas, NLNG, ownership model for managing the nation’s refineries.

He called on the government to involve reputable international oil companies with expertise in refinery management to achieve similar results for the nation’s refineries.

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