Business
NNPC shops for private firms to operate Port Harcourt refinery
NNPC shops for private firms to operate Port Harcourt refinery
The Nigerian National Petroleum Company (NNPC) Limited is seeking credible companies to operate and maintain the Port Harcourt Refining Company.
This is coming three weeks after the NNPC announced the completion of the turnaround maintenance phase one at the refinery.
In a statement on its X page on Monday, the national oil company said outsourcing the maintenance of the refinery is to ensure sustainability towards meeting the country’s fuel supply and energy security needs.
According to the NNPC, the operations and maintenance contract scope of work includes refinery business processes; long-term and short-term production/operations planning; production and operations execution; monitoring, reporting and optimisation of operations; maintenance planning (short term); maintenance execution; health and safety; and environmental management.
Others, the NNPC said, are reliability and inspection; process and controls engineering; quality control, quality assurance and laboratory; specialist engineering; environmental management; minor projects; non-hydrocarbon procurement; sub-contractor management; inventory and warehouse management; and turnaround maintenance planning and execution.
The NNPC said applicants must present audited accounts for the past four years (2019, 2020, 2021, and 2022) that include income statement, balance sheet and cash flow statement.
“Provide evidence of your company’s latest credit ratings and the name of the rating agency,” the oil company said.
“Demonstration of a minimum average annual Turnover of at least $2 billion USD for the financial years ending: 2019, 2020, 2021 and 2022 respectively.”
Provide evidence of your company’s latest credit ratings and the name of the rating agency,” the oil company said.
“Demonstration of a minimum average annual Turnover of at least $2 billion USD for the financial years ending: 2019, 2020, 2021 and 2022 respectively.”
The oil company said it is important for applicants to register “your company for participation in this EOI process in the NNPC Ltd /Nipex Tender process portal”.
“All interested bidders who do not provide as requested in Section 5.1 (a- e) above as at 12:00 Midnight, Monday 29th January 2024 will no longer have access to submit the mandatory details,” NNPC said.
“Individual bidders would be duly notified on th the NNPC Ltd /Nipex Tender Portal.
“Thereafter, the bidder would have access to make their submissions on the NNPC Ltd/Nipex Tender Portal.
“All submitted EOIs should be titled “EOI for the Provision of Operations and Maintenance (0O&M) Services for NNPC Limited Port-Harcourt Refining Company (PHRC).”
The firm said all documents should be submitted online through the electronic NNPC Ltd /NipeX tender portal on or before 12:00pm on February 26, 2024.
“The EOI shall be opened virtually, following the deadline for EOIs submission at 12:00 Noon on Monday 26th February 2024, using the NNPC Microsoft Teams. Bidders who have submitted their EOls and external observers shall be invited to attend the virtual live stream bid opening session,” NNPC said.
Business
PH refinery to blend 1.4-million litre petrol daily – NNPC
PH refinery to blend 1.4-million litre petrol daily – NNPC
Rehabilitated old Port Harcourt refinery is currently operating at 70 per cent of its installed capacity, the Nigerian National Petroleum Company Limited has said.
The Port Harcourt Refining Company (PHRC) operates two refineries: the old refinery with a capacity of 60,000 barrels per stream day (bpsd) and a new refinery with an installed capacity of 150,000 bpsd.
The NNPCL in a statement on Tuesday, said it planned to increase the operation to 90 per cent of the refinery’s capacity.
“The Board and Management of the Nigerian National Petroleum Company Limited (NNPC Ltd) express heartfelt appreciation to Nigerians for their support and excitement over the safe and successful restart of the 60,000 barrels-per-day Old Port Harcourt Refinery,” the statement reads.
“This achievement marks a significant step forward after years of operational challenges and underperformance.
“We are, however, aware of unfounded claims by certain individuals suggesting that the refinery is not producing products. For clarity, the Old Port Harcourt Refinery is currently operating at 70% of its installed capacity, with plans to ramp up to 90%.”
According to NNPC, the refinery has commenced production of daily outputs of straight-run petrol (naphtha), which is blended into 1.4 million litres of petrol.
The national oil company said the refinery has also started producing 900,000 litres of kerosene per day and 1.5 million litres per day of diesel.
The NNPC said 2.1 million litres daily volume of low-pour fuel oil (LPFO) would also be produced at the refinery, adding that additional volumes of liquefied petroleum gas (LPG) will be refined at the plant.
“It is worth noting that the refinery incorporates crack C5, a blending component from our sister company, Indorama Petrochemicals (formerly Eleme Petrochemicals), to produce gasoline that meets required specifications,” NNPC said.
“Blending is a standard practice in refineries globally, as no single unit can produce gasoline that fully complies with any country’s standards without such processes.”
Additionally, the NNPC said it has made substantial progress on the new Port Harcourt refinery, “which will begin operations soon without prior announcements”.
“We urge Nigerians to focus on the remarkable achievements being realized under the able and progressive leadership of President Bola Tinubu and to support efforts aimed at delivering more dividends to the nation,” the energy firm said.
According to the statement, malicious attacks on “clear progress” only undermine the “significant strides made by NNPC Ltd and the country”.
Business
PH refinery: 200 trucks will load petroleum products daily, says Presidency
PH refinery: 200 trucks will load petroleum products daily, says Presidency
No fewer than 200 trucks are set to load petroleum products at the government-owned Port Harcourt Refinery, the presidency has said.
A presidential spokesperson, Sunday Dare, made this known in a statement through his official X handle on Tuesday.
Newstrends had reported that the Nigerian National Petroleum Company on Tuesday announced that Port Harcourt Refinery has resumed operations and crude oil processing after years of inactivity.
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Reacting, Dare said, “200 trucks are expected to load products daily from the refinery, Renewing the Hopes of Nigeria.”
He added that “the Port Harcourt refinery has two wings.
“The Old Refinery comes on stream today with an installed production capacity of 60, 000 barrels per day of crude oil.”
PH refinery: 200 trucks will load petroleum products daily, says Presidency
Business
Breaking: CBN increases interest rate to 27.50%
Breaking: CBN increases interest rate to 27.50%
The Central Bank of Nigeria (CBN) has raised the lending interest to 27.50 per cent from 27.25 per cent.
This latest increase in the Monetary Policy Rate came after a meeting of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Monday and concluded Tuesday.
The Monetary Policy Rate measures the benchmark interest rate.
The CBN Governor, Yemi Cardoso, announced this in Abuja on Tuesday after the MPC meeting, last for the year, held at the apex bank’s headquarters.
He said the MPC voted unanimously to raise the MPR by 25 basis points from 27.25% to 27.50%; and retain the Cash Reserve Ratio (CRR) at 50% for Deposit Money Banks and 16% for Merchant Banks.
The CBN governor also said the MPC retained the Liquidity Ratio (LR) at 30% and Asymmetric Corridor at +500/-100 basis points around the MPR.
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