NNPC hires Honeywell UOP to assess Port Harcourt refinery for new investment.
PETROAN calls it a smart step and urges transparency in the partnership plan.
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has disclosed that the Nigerian National Petroleum Company (NNPC) Limited has engaged Honeywell UOP, a leading global oil and gas technology firm, to evaluate the state of the Port Harcourt refinery in a bid to attract fresh investment.
In a statement signed by PETROAN’s National Publicity Secretary, Joseph Obele, the association described Honeywell UOP as an internationally recognized provider of refining, gas processing and petrochemical technologies, noting that the assessment represents a critical step in reviving one of Nigeria’s most important oil assets.
PETROAN commended NNPC Group Chief Executive Officer, Bayo Ojulari, for commissioning the review, calling it a “strategic move” that will give potential investors reliable data on the plant’s condition and boost confidence in the refinery’s turnaround plans.
The group also endorsed NNPC’s proposal to adopt a technical and equity partnership model for the facility’s rehabilitation but urged that the process be transparent and free of political interference. It called on the federal government to prioritize reputable international firms in any equity and management arrangements.
According to PETROAN National President, Billy Gillis-Harry, the technical and equity model which he noted had worked successfully at the Nigeria Liquefied Natural Gas plant in Bonny would improve efficiency and market stability once applied to the refinery. He added that getting the Port Harcourt plant back on stream would serve as a price-stabilizing mechanism in the downstream sector, benefiting retailers, host communities and consumers alike by encouraging competition and discouraging monopolistic practices.
The association further expressed appreciation to President Bola Tinubu for backing infrastructure upgrades, particularly the rehabilitation of the Eleme Expressway, which it described as a critical artery for transporting petroleum products from the refinery. PETROAN voiced optimism that once completed, the road project would enhance supply, reduce distribution costs and stimulate economic growth in the region.
