The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has confirmed that the Port Harcourt refinery, with a production capacity of 60,000 barrels per day, is fully operational and currently producing a range of refined petroleum products, including diesel, kerosene, and petrol.
This update was shared by PENGASSAN National President, Festus Osifo, during the association’s National Executive Council Meeting in Abuja on Tuesday, addressing any doubts about the refinery’s operations.
Despite the much-anticipated start of production, there has been ongoing debate about the refinery’s functionality. However, Osifo assured attendees that the facility is operational, though he noted that additional maintenance is still required to achieve its full operational capacity.
Read Also: Facility Manager Counters NNPCL’s Claim On Old Port Harcourt Refinery
Osifo also clarified that the refinery’s operations would not result in a reduction in petrol prices, emphasizing that the current exchange rate of the naira to foreign currencies plays a crucial role in determining the cost of refined products.
He stated, “The confirmation I have today is that the refinery is working. However, I need to explain the refining process. First, we appreciate Nigerians for holding the government accountable, as we must ensure the workability of our assets. We cannot just accept everything the government tells us; we must verify it.
“We are also pleased with the media’s efforts to keep the government accountable regarding the refinery’s progress. We conducted checks with our members working there. The fractional distillation unit, commonly known as the CDU, processes crude oil by heating it at different temperatures to produce various products.”
Osifo further explained that while the Port Harcourt refinery produces diesel, kerosene, and naphtha, the refining process for petrol is still incomplete. Ongoing maintenance is in progress, and naphtha is being blended with other materials to produce petrol, but the unit responsible for producing reformate, a key component, is still being finalized.
He emphasized that while the refinery’s operation will create jobs and stimulate the economy, it will not lead to a reduction in the cost of petroleum products due to the weakened naira.
“The greatest challenge is the weakness of our currency.
“With the naira trading at 1 dollar to 1,700 naira, the cost of goods, including petroleum products, will remain high,” Osifo explained.
https://whatsapp.com/channel/0029VaihFajBadmT29ufud2Z
