Home Business Port-Harcourt Refinery Begins Production, Warri Refinery 90% Complete – Petroleum Retailers’ President
Business

Port-Harcourt Refinery Begins Production, Warri Refinery 90% Complete – Petroleum Retailers’ President

Share
Tinubu Announces Date Port Harcourt Refinery Will Commence Operations
President Bola Tinubu has assured that the Port Harcourt Refinery will commence operations by December 2023
Share

 

The President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Dr. Billy Giles-Harry, has announced that the Port-Harcourt refinery has begun production, while the Warri refinery is 90% complete.

Giles-Harry revealed that the Port-Harcourt refinery, with a capacity of 60,000 barrels per day, has started the production process, while the Warri refinery is nearing completion. He commended the Nigerian government and the NNPC for their efforts in rehabilitating the refineries.

“We have to have a new business model for how our refineries operate. We should not leave it strictly to government, and I think that the government should work out a new business model where the private sector is directly involved,” Giles-Harry said.

He emphasized the need for private sector participation in the management of government-owned refineries to ensure their sustainability.

 

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles
World Bank Blacklists 18 Nigerian Firms, Individuals for Corrupt Practices | Daily Report Nigeria
Business

World Bank Clarifies $10.50m Funding to CBN as Grant, Not Loan

The World Bank has clarified that the $10.50 million funding for the...

Nigeria Spends N11.8bn on Apple Imports as Fruit Prices Soar | Daily Report Nigeria
Business

Nigeria Spends N11.8bn on Apple Imports as Fruit Prices Soar

Nigeria imported N11.8 billion worth of apples in the last quarter of...

CBN Speaks on Plans to Revoke Licenses of Fidelity, Wema, Polaris, Unity Banks
Business

CBN Injects $197.71 Million into FX Market to Boost Liquidity

CBN has injected $197.71 million into the foreign exchange market to ensure...

Nigeria’s Public Debt Soars to N144.67 Trillion in 2024 | Daily Report Nigeria
Business

Nigeria’s Public Debt Soars to N144.67 Trillion in 2024

Nigeria’s total public debt hits N144.67 trillion ($94.23 billion) as of December...