The federal government has assured that the Port Harcourt refinery will commence full operations before the end of the year, noting that all rehabilitation works are in their final phases.
The minister of state for petroleum resources (oil), Heineken Lokpobiri said this in an interview, noting that rehabilitation work on the refinery is rapid and time based, with the federal intentional about the level of job done and the ability of the refinery to deliver optimally.
Reacting to the sale of Nigerian onshore assets to Renaissance by Shell, Lokpobiri affirmed that the decision was part of the Nigerian government’s commitment to fostering a business-friendly environment in the oil and gas sector.
He also emphasized that the Nigerian government will not impede legitimate business transactions in the oil and gas sector, stating once the government get the necessary documents, it will not waste time to give the necessary considerations and consent.
Recall Shell had on Tuesday announced that it had agreed to sell its Nigerian onshore assets to Renaissance, a consortium of four Nigerian firms and one foreign company, for a book value of $2.8 billion, stating that the completion of the deal was still subject to approval by the federal government.