African Refinery Group (ARG), a leading midstream oil and gas industry, has commended the Nigerian National Petroleum Corporation Limited (NNPCL) on the successful restoration of production and resumption of crude oil processing at the Port Harcourt Refinery.

The reopening, which took place on Tuesday, 26 November, marks a significant milestone as the refinery, shutdown since 2019, roars back to life.

In a statement issued by Omotayo Adebajo, the executive director of Subsidiaries, the firm said it was particularly proud being one of the four companies granted concessions under a Public-Private Partnership with NNPCL.

“This collaboration includes the operation of key downstream supply and distribution facilities, such as the newly reopened Port Harcourt Refinery Terminal facilities,” Adebajo said.

Adebajo noted that the reopening of the refinery is a landmark achievement, reflecting the unwavering dedication and bold vision of the Tinubu administration, the strategic leadership of the NNPCL Board, and the tireless efforts of NNPCL’s subsidiaries.

The group also commended the management and staff of the Port Harcourt Refinery, the Nigerian Pipelines and Storage Company Limited (NPSC), and NNPC Retail for their exceptional teamwork and commitment to turning the refinery around for production.

“The African Refinery Group celebrates this historic accomplishment as a beacon of hope for Nigeria’s energy sector, underscoring the power of strategic partnerships and determination in driving the nation’s industrial growth,” Adebajo said.

Wasiu Alli is a business, economics cum data journalist with strong expertise covering macro trends, capital markets, government policies, corporate earnings and comparative economics analysis. Alli turns raw data into trends that not only tells compelling stories but nudges investors to make valued and informed decisions. He’s an alumnus of Lagos State University and trained at Lagos Business School. He formerly heads the Companies and Markets desk at BusinessDay where he writes and supervises the production of well researched articles on earnings updates, corporate sectoral comparisons, market intelligence as well as interviews with C-suite executives.

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