NNPC to Privatise Port Harcourt Refinery

The Nigerian National Petroleum Company Limited (NNPC) has announced its intention to hand over the operation and maintenance of the Port Harcourt Refinery to private operators.

NNPC’s decision to involve private operators in the management of the Port Harcourt Refinery aligns with the company’s goal of ensuring reliability and sustainability towards meeting the nation’s fuel supply and energy security obligations.

The contract scope shall cover refinery business processes like long-term and short-term production/operations planning; production and operations execution; monitoring, and reporting.

It also included optimization of operations; maintenance execution; health and safety; environmental management; minor projects and others.

The NNPCL is seeking to engage reputable and credible operations and maintenance companies to operate and maintain the Port Harcourt Refining Company.

Interested companies must demonstrate “a minimum average annual Turnover of at least $2 billion for the financial years ending: 2019, 2020, 2021, and 2022 respectively.”

However, former Vice President Atiku Abubakar has expressed his dissatisfaction with the NNPCL’s decision to hand over the Port Harcourt refinery to a private firm for operation and maintenance.

Atiku questioned the rationale behind the decision and called for transparency in the process.

SOURCE: dailyreports.ng