Resumption of PH refinery will reduce pump price – NOGASA
The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA ) says resumption of crude oil refining in the Port Harcourt Refinery Company will reduce pump price.
The National President of the association, Mr Benneth Korie told newsmen on Monday in Abuja that the refinery would begin crude oil refining before the end of 2022.
He quoted the Minister of State for Petroleum Resources, Chief Timipre Sylva as assuring that the PHRC refinery would soon begin crude oil refining.
The News Agency of Nigeria (NAN) reports that the Nigerian National Petroleum Company Limited (NNPC Ltd) commenced the rehabilitation of PHRC refinery in May 2021.
The Federal Eexecutive Council (FEC) had approved $1.5 billion dollars for the rehabilitation exercise which was being executed by Tecnimont SPA, an Italian company, in three phases of 18, 24 and 44 months.