The newly refurbished Port Harcourt Refinery has begun petroleum products exports to rival the Dangote RefineryA data analysis firm, Kepler, reported that the refinery sold its first cargo of fuel to a Dubai-based company, Gulf Transport and Trading LimitedThe report disclosed that the ship would load 15,000 metric tonnes of low-sulfur-straight-run fuel oil cargo.
Henzodaily.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
Kepler, a data analysis firm, has disclosed that the newly refurbished Port Harcourt refinery has already started exporting petroleum products.
The firm reported that the refinery sold its first cargo of low-sulfur straight-run fuel to Dubai-based Gulf Transport and Trading Limited.
Port Harcourt Refinery begins exports after the Dangote Refinery
Credit: Bloomberg/Contributor
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Port Harcourt refinery sells fuel exports
It also said the facility started its Coolant Distribution Unit 1, with an estimated pinning operation of 20,000 barrels daily.
Kepler explained that the refinery sold its first low-sulfur-straight-run fuel oil cargo, pointing to gradual and phased start-up operations.
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It said the ship would load 15,000 metric tonnes of the product, representing 13.6 million litres.
The report said the Port Harcourt Refinery sold its first LSSR cargo, which had a sulfur content of 0.26% and a 0.918 g/ml density at 15 degrees Celsius, to Dubai-based Gulf Transport & Trading Limited.
According to the report, the cargo was sold at a $8.50 per tonne discount to the NWE 0.5% benchmark on an FOB basis.
Kepler said the move would help reduce imports from Africa’s traditional suppliers. Nigeria’s falling clean product imports are declining, dragging imports into the West Africa region lower.
The firm disclosed that the fuel was produced from sections of the refinery after production began on November 26, 2024.
The development came after the Dangote refinery began exporting petrol to South Africa and other countries.
Dangote Refinery exports fuel
The refinery has agreed to export over 200,000MT of its petrol as local demand for more expensive; higher-quality products has disappointed many Nigerians.
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The refinery’s executive disclosed that the facility has signed its first export orders for its petrol and will begin dispatching the products immediately after the ships arrive.
The Dangote refinery has been touted as disrupting Nigeria and Africa’s petrol demand and servicing about 340,000 barrels of local markets.
With the beginning of petrol exports by the Port Harcourt and Dangote Refineries, Nigeria is gradually becoming a net exporter of petroleum products.
NNPC CEO confirms blending petrol at Port Harcourt refinery
Henzodaily.ng previously reported that Mele Kyari, NNPC Group CEO, disclosed that blending petroleum products at the Port Harcourt refinery is not criminal.
Kyari disclosed this at the recent commissioning of the NUPENG Towers in Lagos, saying operations are ongoing at the 60,000bpd facility.
The refinery began operations in November, ending Nigeria’s dependence on imported petroleum products.
Source: Henzodaily.ng