PORT HARCOURT REFINERY NOT FOR SALE- NNPCL
Read Time:1 Minute, 58 Second
HOTJIST
The Nigerian National Petroleum Corporation Limited (NNPCL) has formally excluded the disposition of the Port Harcourt Refining Company, reaffirming its dedication to executing top-tier restoration and preservation of the facility.
The Group Chief Executive Officer (GCEO) of NNPC Limited, Bashir Ojulari, disclosed this information during a town hall meeting on Tuesday at the NNPCL Towers in Abuja.
He stated that the position was not a shift, but rather informed by ongoing detailed technical and financial reviews of the Port Harcourt, Kaduna, and Warri refineries.
He stated that the position was not a shift, but rather informed by ongoing detailed technical and financial reviews of the Port Harcourt, Kaduna, and Warri refineries.
Although progress is being made on all three, he noted that the emerging outlook called for more advanced technical partnerships to complete and high-grade the rehabilitation of the refinery.
Thus, selling is highly unlikely as it would lead to further value erosion.
READ ALSO:
FG AIMS FOR 2026 CONCLUSION OF KADUNA–KANO STANDARD GAUGE RAIL CORRIDOR
The declaration emerged amidst extensive conjecture following his statements at the 2025 OPEC Seminar in Vienna, Austria, earlier this month.
Ojulari, during an interview with Bloomberg, said that “all options are on the table”.
The comment sparked speculation and headlines about the future of the nation’s refining assets.
During the town-hall, the executive vice presidents delivered progress updates from the Upstream, Downstream, Finance, Business Services, Gas, Power, and New Energy sectors, emphasized operational accomplishments, current initiatives, and aspects necessitating focus.
The State oil company stated that the declaration bolstered its responsibility as a strategic guardian of the country’s energy framework and demonstrated a strong commitment to achieving the comprehensive restoration and enduring sustainability of Nigeria’s refineries.
It also signaled continuity in the Federal Government’s broader energy security objectives and a commitment to retaining critical assets under national control.
“Feedback during and after the session revealed a workforce energized and aligned with the leadership’s vision. Described as ‘reassuring,’ ‘transformational,’ and ‘sustainable,’ the atmosphere reflected an optimistic outlook among employees and hopefulness about the company’s evolving strategic direction.
“NNPC Ltd will continue to reposition itself as a commercially driven, professionally managed national energy company, grounded in transparency, focused on performance, and unwavering in its responsibility to its number one stakeholder group, Nigerians,” Ojulari concluded.
Happy
0 %
Sad
0 %
Excited
0 %
Sleepy
0 %
Angry
0 %
Surprise
0 %
0
0