Port-Harcourt Refinery Company (PHRC) has sealed a landmark agreement with African Refinery Limited (ARL) for the co-location of a 100,000 barrels per day (bpd) capacity refinery within the Port-Harcourt Refinery Complex. This significant development promises to bolster local refining capacity and marks a significant win for Nigeria’s oil and gas industry.
The agreement, signed between PHRC and ARL, underscores a strategic partnership aimed at enhancing Nigeria’s refining capabilities and reducing the nation’s reliance on imported petroleum products. By co-locating the refinery within the Port-Harcourt Refinery Complex, both entities aim to optimize existing infrastructure and maximize operational efficiency.
The co-location initiative is expected to leverage the synergies between PHRC and ARL, thereby streamlining processes and minimizing costs associated with setting up a new refinery from scratch. With a capacity of 100,000 bpd, the new refinery is poised to contribute significantly to meeting Nigeria’s domestic demand for refined petroleum products, thereby reducing the country’s dependence on imports.
This collaboration represents a commendable effort towards revitalizing Nigeria’s downstream sector and promoting self-sufficiency in petroleum refining. By harnessing the expertise and resources of both PHRC and ARL, the co-located refinery project is poised to drive economic growth, create employment opportunities, and enhance Nigeria’s energy security.
The signing of the agreement underscores the commitment of both PHRC and ARL to advancing the interests of Nigeria’s oil and gas industry and aligns with the government’s agenda to revitalize the refining sector. This milestone achievement reflects a collective determination to harness Nigeria’s vast hydrocarbon resources for the benefit of its citizens and the broader economy.
As the co-location project progresses, stakeholders anticipate a transformative impact on Nigeria’s energy landscape, with increased local refining capacity and reduced reliance on imported petroleum products. The partnership between PHRC and ARL exemplifies the potential of collaborative efforts in driving sustainable development and fostering a thriving energy sector in Nigeria.
