NNPC Sells First Shipment of Fuel from Port Harcourt Refinery to Dubai-Based Company

December 7, 2024

2 minutes read

Port Harcourt

The Nigerian National Petroleum Company Limited (NNPC) has achieved a significant milestone by selling its first shipment of refined fuel from the rehabilitated Port Harcourt Refinery to a Dubai-based company. This development marks a crucial step in the ongoing efforts to revive Nigeria’s refining capacity and reduce dependence on imported petroleum products.

The cargo, comprising premium motor spirit (PMS), was exported as part of the initial output from one of the refinery’s processing plants. The refinery, which has been undergoing extensive rehabilitation since 2021, saw the first phase of its upgrade completed earlier this year. This completion allowed limited production to commence, leading to the current export.

Work on the second processing plant at the refinery is ongoing, with sources from the presidency confirming accelerated efforts to ensure its timely completion. Once both plants are fully operational, the Port Harcourt Refinery is expected to significantly impact Nigeria’s energy sector by curbing refined product imports and increasing revenue from exports.

The transaction, however, has not been without controversy. Human rights lawyer Femi Falana has raised questions about the transparency of the deal. He has called on the NNPC’s Managing Director, Mele Kyari, to disclose details about the agreement with the Dubai-based buyer and the terms of the transaction. These concerns have fueled calls for greater openness to ensure public confidence in the management of the country’s resources.

Despite these concerns, the NNPC has maintained its commitment to transparency in its operations. Industry analysts see the successful export as a positive indication of the potential transformation of Nigeria’s refining capabilities. The move is expected to ease the nation’s foreign exchange burden, which has been strained by heavy reliance on fuel imports.

The export of fuel from the Port Harcourt Refinery marks a turning point for Nigeria’s oil and gas industry. As the rehabilitation of the refinery progresses, stakeholders are optimistic that this initiative will reposition Nigeria as a competitive player in the global refined petroleum market. The success of this first shipment is seen as a foundation for further achievements in the sector, which could bring substantial economic benefits to the country.

Share:
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Related Links

Pope Leo

Pope Leo Celebrates 70th Birthday with Faithful in Rome

On Monday, September 15, 2025, thousands of faithful gathered in Rome to celebrate Pope Leo’s ...

skynews-qatar-middle-east_6743414

Qatar Summit Condemns Israel’s Doha Strike on Hamas

Qatar convened an emergency summit on Monday, September 15, 2025, uniting Arab and Islamic nations. ...

UN Hotel

Belem Hotel Costs for COP30 Push UN to Limit Delegates

Brazil’s coastal Amazon city of Belem will host the COP30 climate summit in November 2025. ...

NBS

Nigeria’s Inflation Rate Drops to 20.12% in August 2025

Nigeria’s inflation rate slowed significantly in August 2025, easing to 20.12% from 21.88% in July, ...

Latest News

Today in History

September 15th is the day in 1990 that France announces it will send 4,000 troops to the Persian Gulf.

Exchange Rate Per Dollar

AM Armenian Dram382.1569
GH Ghana Cedi12.215
GM Gambian Dalasi70.5
GN Guinea Franc8,669.82
NG Nigerian Naira₦1,499.2
CF CFA Franc BEAC557.5211
15 Sep · CurrencyRate · USD
CurrencyRate.Today
Check: 15 Sep 2025 20:05 UTC
Latest change: 15 Sep 2025 20:00 UTC
API: CurrencyRate
Disclaimers. This plugin or website cannot guarantee the accuracy of the exchange rates displayed. You should confirm current rates before making any transactions that could be affected by changes in the exchange rates.
You can install this WP plugin on your website from the WordPress official website: Exchange Rates🚀

YOUR THOUGHTS

Let us know what you think

Contact the People’s Paper with feedback on stories and how we could make wapress.africa even better!

newsletter image

Stay up to date with the latest from West Africa Press

Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on WApress.

Subscribe Newsletter!

Be the first to receive our latest contents and more...

Need help?