Shell has announced the resumption of crude oil supply from its Bonny export terminal in Nigeria to the state-owned Port Harcourt refinery, reported Reuters.

The refinery in Nigeria is anticipated to commence operations within the first quarter of this year, following a significant revamp.

The Port Harcourt facility, a dual-unit plant, is set to initially start processing 60,000bopd.

Plans are in place to increase production to the plant’s full capacity of 210,000bopd later this year.

Shell Bonny oil terminal manager Osita Nnajiofor was cited by the news agency as saying that a shipment of 475,000 barrels of oil was delivered by the company to the refinery on 18 January 2024.

Nnajiofor said: “Future supplies from Bonny oil and gas terminal would be guided by the demand for the product.”

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By GlobalData

The latest development comes after Nigeria’s state oil company NNPC sought operators for the Port Harcourt refinery in January 2024.

Port Harcourt is one of the four state-owned refineries that have been out of operation for years.

The Nigerian Government is making efforts to revive these facilities to reduce the country’s dependence on imported fuel.

Last month, Shell agreed to divest its onshore business in Nigeria to Renaissance, a consortium of five companies, in a deal valued at $2.4bn. 

Renaissance will acquire the SPDC. 

Shell said it has structured the deal to maintain SPDC’s operational capabilities to support the SPDC Joint Venture.