SUBSCRIBE
PROFILE

NNPC Ltd keeps Port Harcourt refinery and focuses on rehabilitation

Nigeria’s state-owned oil company abandons plans to sell the Port Harcourt refinery and confirms a maintenance programme despite high operating costs.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

SUBSCRIBE - 99$/year

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

The Nigerian National Petroleum Company Limited (NNPC Ltd) announced it will not sell the Port Harcourt refinery, reversing a direction considered in 2024. Chief Executive Officer Bayo Ojulari stated that the facility will remain under state control and undergo rehabilitation designed to ensure long-term viability.

This policy shift comes as the site continues to weigh heavily on the company’s finances. The refinery, degraded for several years, generates between 300 and 500 million naira per month (equivalent to $200,000 to $333,000) in operating costs. Built to process 210,000 barrels of crude oil per day across two units, it currently handles only about 40 %, limiting output and increasing pressure on NNPC Ltd’s accounts.

Maintenance programme under review

The rehabilitation of Port Harcourt is part of a broader initiative that also covered the Warri and Kaduna refineries, valued at $3 billion. The investment earmarked for Port Harcourt alone, estimated at $1.5 billion, has been suspended to reassess the schedule and execution framework. Management has indicated its intention to prioritise thorough and gradual maintenance rather than the disposal of strategic assets.

The decision comes as Nigeria continues to import the majority of its refined products despite being Africa’s leading crude producer. In August, oil output reached 1.71 million barrels per day, up 10 % from July 2024, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Dependence on imported fuels remains a central challenge for the Nigerian economy.

Adjusted strategy amid new capacity

The retention of Port Harcourt coincides with the progressive start-up of the Dangote refinery, which has a declared capacity of 650,000 barrels per day. This private facility is already reshaping local supply dynamics and could significantly reduce import bills in the coming years.

By confirming its decision, NNPC Ltd aims to retain control of its refining assets and invest in their maintenance. The Port Harcourt refinery remains at the core of Nigeria’s energy strategy, with the goal of securing fuel supply and reducing the fiscal burden of imports.

  • Popular on energynews.pro
G7 launches over 20 projects to counter Chinese influence on critical minerals
Ormat and SLB launch partnership to industrialise enhanced geothermal systems
US nuclear regulator recommends construction permit for Kemmerer Unit 1
Washington invests $100mn to modernise coal plants as exports drop 11%
Washington’s shift on Chevron disrupts Venezuela’s oil economy
Algeria to launch SCADA system modernisation of national power grid in 2026
The Algerian government plans a full upgrade of the SCADA system, managed by Sonelgaz, to improve control and supervision of the national electricity grid starting in 2026.
SEEG launches emergency plan to curb energy fraud in Gabon
Facing annual losses estimated at up to $66mn, SEEG is intensifying field inspections and preparing the rollout of smart meters to combat illegal connections.
United Kingdom stays on course for 2030 despite political divisions
The British government confirms its ambition to decarbonise the power sector by 2030, despite political criticism and concerns over consumer energy costs.
Enedis commits €250mn to upgrade Marseille’s electricity network
Enedis plans a €250mn ($264mn) investment to strengthen Marseille’s electricity grid by 2030, including the full removal of paper-insulated cables and support for the port’s electrification.
G7 launches an alliance to secure critical minerals outside China
Energy ministers coordinate investment and traceability to curb China’s dominance in mineral refining and stabilize supply chains vital to electronics, defense, and energy under a common G7 framework.
Artificial intelligence fuels global energy crisis and derails climate targets
Electricity demand, amplified by the rise of artificial intelligence, exceeds forecasts and makes the 2050 net-zero target unattainable, according to new projections by consulting firm Wood Mackenzie.
Norwegian fund generates €88 billion in gains through financial markets
Norway's sovereign wealth fund generated a €88 billion profit in the third quarter, largely driven by equity market performances in commodities, telecommunications, and finance.
Germany moves to ease grid regulation to attract infrastructure investors
The German regulator is preparing a reform favourable to grid operators, aiming to adjust returns and efficiency rules from 2028 for gas pipelines and 2029 for electricity networks.
Bill Gates calls for climate priorities to refocus on human welfare
Bill Gates urges governments and investors to prioritise adaptation to warming effects, advocating for increased funding in health and development across vulnerable countries.
Malaysia strengthens public investment in gas and solar energy
The Malaysian government plans to increase public investment in natural gas and solar energy to reduce coal dependency while ensuring energy cost stability for households and businesses.
Structural imbalances hinder the efficiency of public climate finance
The study by Özlem Onaran and Cem Oyvat highlights structural limits in public climate finance, underscoring the need for closer alignment with social and economic goals to strengthen the efficiency and resilience of public spending.
ExxonMobil sues California to block climate disclosure laws
Oil major ExxonMobil is challenging two California laws requiring disclosure of greenhouse gas emissions and climate risks, arguing that the mandates violate freedom of speech.
Norway prevails at ECHR over offshore oil licensing dispute
The European Court of Human Rights ruled that Norway’s deferral of a climate impact assessment did not breach procedural safeguards under the Convention, upholding the country’s 2016 oil licensing decisions.
Singapore invests heavily in civil nuclear power and regional energy networks
Singapore strengthens its energy strategy through public investments in nuclear, regional electricity interconnections and gas infrastructure to secure its long-term supply.
Gabon invests FCFA560bn to regulate its gradual exit from oil
As oil production declines, Gabon is relying on regulatory reforms and large-scale investments to build a new growth framework focused on local transformation and industrialisation.
Cameroon to exempt biofuel equipment from customs duties starting 2026 to boost the sector
Cameroon will adopt a customs exemption on industrial equipment related to biofuels starting in 2026, as part of its new energy strategy aimed at regulating a still underdeveloped sector.
Bolivia allows private fuel imports to address supply crisis
Facing a persistent fuel shortage and depleted foreign reserves, the Bolivian parliament has passed an exceptional law allowing private actors to import gasoline, diesel and LPG tax-free for three months.
Ghana targets $16 billion in oil revenues despite declining production
Ghana aims to secure $16 billion in oil revenues over ten years, but the continued drop in production raises doubts about the sector’s long-term stability.
Kinshasa and Vingroup sign agreement for major urban and energy project
The government of Kinshasa has signed a memorandum of understanding with Vietnam's Vingroup to develop a 6,300-hectare urban project and modernise mobility through an electric transport network.
Rising electricity demand in Texas reshapes ERCOT’s energy mix
ERCOT’s grid adapts to record electricity consumption by relying on the growth of solar, wind and battery storage to maintain system stability.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

START - 99$/year

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.