The President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Festus Osifo, says the old Port Harcourt refinery has been rehabilitated and can be in operation within one week.
Speaking in a televised interview, Osifo said the refinery is 90 per cent ready for operation, but profitability considerations remain a major factor influencing NNPCL’s decision on when to restart the facility.
He explained that although extensive rehabilitation work has been carried out, operational losses could arise due to the cost of crude oil relative to the value of refined products.
Osifo, maintained that the investment in the refinery was not wasted, stressing that major components of the facility had been replaced during the rehabilitation exercise.
The Port Harcourt Refining Company was reopened in November 2024 as part of a rehabilitation project, but was shut down again in May 2025 following operational challenges.
As of today, operations at the facility remain suspended.
