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.
Go deeper with GlobalData
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.
See Also:
Nnajiofor said: “Future supplies from Bonny oil and gas terminal would be guided by the demand for the product.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe 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.
