BREAKING: NNPCL reverses decision to sell Refinery, focuses on rehabilitation.

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The Nigerian National Petroleum Company Limited (NNPCL) has revealed that Nigeria has exported a total of 399,428.9 metric tonnes of refined petroleum products from the Port Harcourt Refining Company (PHRC) and the Warri Refining and Petrochemical Company (WRPC) between December 2024 and July 2025.

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According to internal documents, the exports included 271,868.2 metric tonnes of Low Pour Fuel Oil (LPFO) from PHRC and 107,296.2 metric tonnes of naphtha, also from PHRC. The WRPC contributed 20,864.4 metric tonnes of LPFO exports

Meanwhile, the NNPC Group Chief Executive Officer, Bashir Bayo Ojulari, announced that the company has suspended plans to sell the Port Harcourt Refinery. Ojulari explained that the decision was based on detailed technical and financial reviews, stating that selling the refinery would lead to further value erosion.

“The earlier move to restart operations at the Port Harcourt refinery before completing its full rehabilitation was ill-informed and sub-commercial,” Ojulari said, adding that progress is ongoing across all three refineries.

Ojulari reaffirmed NNPC’s role as a strategic custodian of national energy infrastructure, committed to transparency and performance

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