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Nigerian Oil Stakeholders Optimistic About Port Harcourt Refining Company's Restart

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Nigerian Oil,Port Harcourt Refining Company,Fuel Prices

The reopening of the Port Harcourt Refining Company signals a significant milestone for Nigeria's oil and gas sector, promising reduced fuel prices and increased employment opportunities.

Stakeholders in Nigeria's oil and gas sector are optimistic about the reopening of the Port Harcourt Refining Company, believing it will reduce fuel prices and create jobs. The long-awaited restart was marked by the inauguration of a 60,000-barrel-per-day production capacity at the old Port Harcourt Refinery Depot, led by Mele Kyari, CEO of the Nigerian National Petroleum Company Limited (NNPCL).

Tekena Ikpaki, IPMAN Rivers State Chairman, confirmed the operations' commencement and highlighted the competition with other refineries, like Dangote, as beneficial for reducing petroleum product costs

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Nigerian National Petroleum Company Increases Old Port Harcourt Refinery Capacity to 70 PercentThe Nigerian National Petroleum Company (NNPC) has announced that the old Port Harcourt refinery is operating at 70 percent of its capacity and plans to increase this to 90 percent. The refinery is now producing various petroleum products including petrol, kerosene, diesel, and LPG.
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