The Nigerian National Petroleum Company Ltd (NNPC Ltd) has signed an agreement with African Refinery for a share subscription agreement with Port-Harcourt Refinery.

According to a post on its official X handle yesterday, the agreement will see the co-location of a 100,000 bpd refinery within the Port Harcourt Refinery complex. NNPC Ltd explained that the new refinery, when operational, would produce fuel diesel, Aviation Turbine Kerosene (ATK), and liquefied petroleum gas (LPG) for both the local and international markets.

The statement read: “NNPC Ltd.’s moves to boost local refining capacity witnessed a boost today with the signing of share subscription agreement between NNPC Limited and African Refinery Port Harcourt Limited for the co-location of a 100,000bpd capacity refinery within the PHRC complex.

“The signing of the agreement is a significant step towards setting in motion the process of building a new refinery which, when fully operational, will supply PMS, AGO, ATK, LPG, and other petroleum products to the local and international markets and provide employment opportunities for Nigerians.”

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