{"id":71748,"date":"2025-07-30T15:17:09","date_gmt":"2025-07-30T15:17:09","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=71748"},"modified":"2025-07-31T05:04:51","modified_gmt":"2025-07-31T05:04:51","slug":"nnpc-port-harcourt-refinery-not-for-sale","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2025\/07\/30\/nnpc-port-harcourt-refinery-not-for-sale\/","title":{"rendered":"Port Harcourt Refinery Not for Sale -NNPC"},"content":{"rendered":"<p><strong>By Omoniyi David<\/strong><\/p>\n<p>The Nigerian National Petroleum Company Limited (NNPC Ltd) has denied speculations about plans to sell the Port Harcourt Refining Company, affirming its commitment to full rehabilitation and national ownership of the facility.<\/p>\n<p>In a statement on Wednesday, the company clarified that recent reports suggesting a sale were based on misinterpretations of comments made by Group Chief Executive Officer, Bashir Bayo Ojulari, during the 2025 OPEC Seminar in Vienna. Ojulari had stated that \u201call options are on the table,\u201d sparking public concerns.<\/p>\n<p>NNPC, however, described such concerns as \u201cmisplaced,\u201d warning that any sale would result in significant value loss. The company emphasized that its current strategy focuses on restoring refinery operations through technical partnerships rather than divestment.<\/p>\n<p>Ojulari noted that earlier plans to restart the refinery before full rehabilitation were found to be \u201cill-informed and sub-commercial.\u201d The new approach, he said, is grounded in technical and financial evaluations of the Port Harcourt, Kaduna, and Warri refineries.<\/p>\n<p>Speaking at a town hall meeting at NNPC Towers in Abuja, Ojulari reassured staff of the company&#8217;s direction. Top executives also shared updates on operations across upstream, downstream, gas, power, finance, and new energy sectors.<\/p>\n<p>Acknowledging past missteps, Ojulari said NNPC is now focused on aligning with national interests, ensuring the long-term viability of its energy assets.<\/p>\n<p>The meeting concluded with staff expressing optimism, describing the new direction as both \u201creassuring\u201d and \u201ctransformational.\u201d<\/p>\n<p>Ojulari reaffirmed NNPC\u2019s commitment to operating as a commercially driven, professionally managed entity focused on performance, transparency, and national service.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Omoniyi David The Nigerian National Petroleum Company Limited (NNPC Ltd) has denied speculations about plans to sell the Port Harcourt Refining Company, affirming its commitment to full rehabilitation and national ownership of the facility. In a statement on Wednesday, the company clarified that recent reports suggesting a sale were based on misinterpretations of comments [&hellip;]<\/p>\n","protected":false},"author":33,"featured_media":71749,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173,172],"tags":[],"class_list":["post-71748","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/71748","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=71748"}],"version-history":[{"count":3,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/71748\/revisions"}],"predecessor-version":[{"id":71762,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/71748\/revisions\/71762"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/71749"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=71748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=71748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=71748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}