50.24$US/1 Barrel
62.50$US/1 Barrel
57.90$US/1 Barrel
73.06$US/1 Barrel
75.61$US/1 Barrel
75.71$US/1 Barrel
77.66$US/1 Barrel
71.37$US/1 Barrel
71.22$US/1 Barrel
73.02$US/1 Barrel
56.89$US/1 Barrel
63.21$US/1 Barrel
55.28$US/1 Barrel
68.21$US/1 Barrel
64.72$US/1 Barrel
60.50$US/1 Barrel
62.00$US/1 Barrel
60.25$US/1 Barrel
65.25$US/1 Barrel
66.75$US/1 Barrel
485.00$US/MT
378.00$US/MT
705.00$US/MT
585.00$US/MT
508.00$US/MT
461.75$US/MT
368.00$US/MT
395.25$US/MT
678.00$US/MT
783.50$US/MT
SEATTLE (Oil Monster): The Port Harcourt Refinery in the oil-rich region of Niger Delta, Nigeria is set to commence operations. This follows recent supply of 475,000 barrels of crude oil by Shell Petroleum Development Company. The supply from Shell is the first in past few years.
According to Shell, the significant milestone was made possible through intensive preparations, collaboration and the dedication of the Bonny Oil and Gas Terminal, BOGT and Port Harcourt Refinery Company, PHRC teams. The BOT operations and maintenance teams successfully completed activities including pressure and leak testing.
The recommencement of crude oil supply from the Bonny Oil and Gas Terminal to Port Harcourt Refinery is considered as a significant milestone. This will support the government’s efforts to ensure steady supply of petroleum products to the downstream market, which in turn will deliver substantial contribution to the nation’s economy. It must be noted that the state-owned Nigerian National Petroleum Corporation (NNPC) has been carrying out rehabilitation works at the refinery for more than two years.
Port Harcourt Refining Company (PHRC) is a wholly-owned subsidiary of NNPC. The oil refinery complex has a total processing capacity of 210,000 barrels per day (bpd).