By Ejekwu Chidiebere
(Energy Window International) The Nigerian National Petroleum Company Limited (NNPC) Ltd says it has not only officially ruled out sale of the Port Harcourt Refining Company but also reaffirming its commitment to completing high-graded rehabilitation and retention of the plant.
Energy Window International (Media( gathered that Bashir Bayo Ojulari, the Group CEO of the Company announced this at a company-wide town hall meeting on Tuesday at the Company’s house in Abuja. Stating that the position isn’t a shift. Rather, it is informed by ongoing detailed technical and financial reviews of the Port Harcourt, Kaduna and Warri refineries.
The ongoing review according to a twit from the Company indicates that the earlier decision to operate the Port Harcourt refinery prior to full completion of its rehabilitation was ill-informed and sub-commercial.
Adding that although progress is being made on all three refineries, the emerging outlook calls for more advanced technical partnerships to complete and high-grade the rehabilitation of the Port Harcourt refinery. Thus, selling is highly unlikely as it would lead to further value erosion.
He said the announcement was necessary in view of the ongoing (widespread) speculation following his remarks at the 2025 OPEC Seminar in Vienna, Austria earlier, where he was captured to have told Bloomberg during an interview that “all options are on the table.” “The comment sparked speculation and headlines about the future of the nation’s refining assets.”
This declaration according to the statement was also received with applause from hundreds of staff attendees, who described the position as a renewed sense of business-focused direction across the organization.
The twit said the town hall was instituted to serve as a performance update—“it was an opportunity for candid and constructive engagement.”
Adding the announcement reinforces Company’s mandate as a strategic custodian of national energy infrastructure and reflects a firm resolve to deliver on the complete rehabilitation and long-term viability of Nigeria’s refineries. “It also signals continuity in the Federal Government’s broader energy security objectives and a commitment to retaining critical assets under national control.”
It further stated that feedback during and after the session revealed a workforce energized and aligned with the leadership’s vision. About the atmosphere following the announcement, the Company said: “It was reassuring, transformational and “sustainable, and reflected an optimist outlook among employees and hopefulness about the company’s evolving strategic direction.”
“NNPC Ltd will continue to reposition itself as a commercially driven, professionally managed national energy company, grounded in transparency, focused on performance, and unwavering in its responsibility to its number one stakeholder group, Nigerians” the man said.