After nine months of rehabilitation the Nigerian National Petroleum Corporation (NNPC) has announced the successful re-streaming of the Port Harcourt and Warri refineries.
The Punch reports that after successful test runs, the refineries began production with the Port Harcourt Refining Company reaching 60 per cent of its production capacity. The Warri Refining and Petrochemical Company is expected to reach 80 per cent of its production capacity too.
The NNPC projected that the Port Harcourt and Warri refineries are expected to produce 5 million and 3.5 million litres per day respectively.
The NNPC explained that rehabilitation of the refineries had to be switched from the original builders to new ones after the former nominated some partners that came up with ‘outrageously unfavourable terms’
With the successful project carried out on the Port Harcourt and Warri refineries, focus is now on the Kaduna Refining and Petrochemical Company which is expected to come on stream too.
Meanwhile, Opeyemi Agbaje, the chief executive officer of RTC Advisory Services Limited, stated that the time was ripe for the federal government to remove the fuel subsidy.