Close Menu
MarketForces AfricaMarketForces Africa
    What's Hot

    XRP Extends 7-Day Gains, Price Rises to $1.18

    July 5, 2026

    Cryptocurrencies Rally as U.S. M2 Money Supply Tops $23trn

    July 4, 2026

    Revolut to Delist USDT in Europe Ahead of MiCA Regulation

    July 4, 2026
    Facebook X (Twitter) Instagram
    Trending
    • XRP Extends 7-Day Gains, Price Rises to $1.18
    • Cryptocurrencies Rally as U.S. M2 Money Supply Tops $23trn
    • Revolut to Delist USDT in Europe Ahead of MiCA Regulation
    • Ecobank Nigeria Wins Deutsche Bank’s Client Excellence Award
    • NGX 30: What Nigeria’s Most Important Stock Index Reshuffle Means for Investors
    • Cardano Price Rises 5% as RealFi Testnet Launch Drives Optimism
    • Ether.fi Gains 11% as Capital Rotates into Altcoins
    • HYPEUSD Jumps by 4%, Tops $71 on Buyback Momentum
    • Home
    • About Us
    Facebook X (Twitter) Instagram LinkedIn WhatsApp TikTok Telegram
    MarketForces AfricaMarketForces Africa
    Subscribe
    Sunday, July 5
    • Home
    • News
    • Analysis
    • Economy
    • Mobile Banking
    • Entrepreneurship
    MarketForces AfricaMarketForces Africa
    MarketForces Africa » Economy » Restreaming PH Refinery will Spur LPG Supply, Halt Importation – Minister

    Restreaming PH Refinery will Spur LPG Supply, Halt Importation – Minister

    Marketforces AfricaBy Marketforces AfricaDecember 22, 2023 Economy No Comments3 Mins Read
    Restreaming PH Refinery will Spur LPG Supply, Halt Importation – Minister
    Share
    Facebook Twitter LinkedIn Pinterest Email Tumblr Reddit Telegram WhatsApp Copy Link

    Restreaming PH Refinery will Spur LPG Supply, Halt Importation – Minister

    The Federal Government says re-streaming the Port Harcourt Refinery will increase supply of Liquefied Petroleum Gas (LPG), popularly known as cooking gas, and automatically halt importation.

    The Minister of State, Petroleum Resources (Gas), Ekperikpe Ekpo, said this on Thursday during an inspection of facilities at the Port Hacourt Refining Company Ltd. (PHRC).

    The inspection coincided with the 15th Refineries’ Rehabilitation Steering Committee Meeting also held in Port Harcourt, Rivers.

    The PHRC rehabilitation project, which cost the Federal Government about 1.5 billion dollars, is an Engineering Procurement Construction Installation and Commission (EPCIC) project that is in phases.

    The rehabilitation work had been ongoing since 2021, and the Nigerian National Petroleum Company Ltd. (NNPCL) had pledged to complete phase one of the project (mechanical completion and flare start-up) of old Port Harcourt Refinery at the end of 2023.

    On Dec. 20 the NNPCL fulfilled its promise by achieving the mechanical completion and flare start-up of the refinery’s Area 5 Plant.

    Speaking during the tour, Ekpo said the mechanical completion and flare start-off would be cheering news equally to LPG users because after Christmas there would be sufficient supply of LPG, a major bye product of the refinery.

    “I know the joy that is in the hearts of Nigerians with the coming up on stream of the phase one of the refinery, and I believe others will be completed on schedule,” Ekpo said.

    Also speaking, Malam Mele Kyari, Group Chief Executive Officer (GCEO), NNPC Ltd., said 84.4 per cent of Area 5 Plant, a key component of the refinery, and 77.4 per cent of the entire rehabilitation project had been completed as at Dec. 15.

    “In our quest to ensure that this refinery is re-streamed to continue to deliver value to Nigerians, we promised to reach a mechanical completion of phase one of the rehabilitation project by the end of December and get the other plants running in 2024.

    “Today, we have kept those commitments,” Kyari said.

    The GCEO commended the staff of NNPCL and the EPCIC contractors for their efforts, and thanked Nigerians for their patience and trust in the company to deliver on the huge project.

    Kyari further said, “More importantly, the milestone was achieved under an excellent Health, Safety and Environment (HSE) record, which stood at over 9.5 million man hours with zero Loss Time Injury (LTI).”

    On the facility tour were Minister of State Petroleum Resources (Oil) Sen. Heineken Lokpobiri; NNPCL Board Chairman, Chief Pius Akinyelure and Managing Director, PHRC, Ibrahim Onoja. Naira Devaluation Deepens Economic Crisis in Nigeria

    The Managing Director of Tecnimont Nig. Ltd., Fabio Del Cioppo and other important dignitaries were also on the tour.

    The PHRC consists of two units of refineries, with a cumulative 210,000 bpd.

    While the old plant has a refining capacity of 60,000 barrels per day (bpd), the new plant has 150,000 bpd.

    Investors Nigeria
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Marketforces Africa
    • Website
    • Facebook
    • X (Twitter)
    • Instagram
    • LinkedIn

    MarketForces Africa, a Financial News Media Platform for Strategic Opinions about Economic Policies, Strategy & Corporate Analysis from today's Leading Professionals, Equity Analysts, Research Experts, Industrialists and, Entrepreneurs on the Risk and Opportunities Surrounding Industry Shaping Businesses and Ideas.

    Keep Reading

    XRP Extends 7-Day Gains, Price Rises to $1.18

    Cryptocurrencies Rally as U.S. M2 Money Supply Tops $23trn

    Revolut to Delist USDT in Europe Ahead of MiCA Regulation

    Ecobank Nigeria Wins Deutsche Bank’s Client Excellence Award

    NGX 30: What Nigeria’s Most Important Stock Index Reshuffle Means for Investors

    Cardano Price Rises 5% as RealFi Testnet Launch Drives Optimism

    Add A Comment

    Comments are closed.

    Editors Picks

    XRP Extends 7-Day Gains, Price Rises to $1.18

    July 5, 2026

    Cryptocurrencies Rally as U.S. M2 Money Supply Tops $23trn

    July 4, 2026

    Revolut to Delist USDT in Europe Ahead of MiCA Regulation

    July 4, 2026

    Ecobank Nigeria Wins Deutsche Bank’s Client Excellence Award

    July 4, 2026

    NGX 30: What Nigeria’s Most Important Stock Index Reshuffle Means for Investors

    July 4, 2026
    Latest Posts

    XRP Extends 7-Day Gains, Price Rises to $1.18

    July 5, 2026

    Cryptocurrencies Rally as U.S. M2 Money Supply Tops $23trn

    July 4, 2026

    Revolut to Delist USDT in Europe Ahead of MiCA Regulation

    July 4, 2026

    Ecobank Nigeria Wins Deutsche Bank’s Client Excellence Award

    July 4, 2026

    NGX 30: What Nigeria’s Most Important Stock Index Reshuffle Means for Investors

    July 4, 2026

    Subscribe to News

    Get the latest sports news from Dmarketforces Africa about finance, business and tech.

    Advertisement
    Facebook X (Twitter) Pinterest Vimeo WhatsApp TikTok Instagram

    News

    • World
    • Politics
    • Economy
    • Business
    • Opinions
    • Fintech
    • Science & Technology

    Company

    • About us
    • Advertising
    • Classified Ads
    • Contact Info
    • Editorial Policy

    Services

    • Subscriptions
    • Research
    • Due Diligence
    • Newsletters
    • Sponsored News
    • Work With Us

    Subscribe to Updates

    Subscribe to updates from MarketForces Africa, an independent financial news service provider.

    © 2026 MarketForces Africa. All rights reserved.
    • Privacy Policy
    • Terms
    • Accessibility

    Type above and press Enter to search. Press Esc to cancel.