NIGERIAN National Petroleum Corporation (NNPC) and Genesis Electricity Ltd have signed a memorandum of understanding (MoU) designed to bolster power supply to the Port Harcourt Refining Company (PHRC) and strengthen its production capacity.

Speaking during the ceremony at the NNPC Towers in Abuja, the Group Managing Director of the corporation, Mr Andrew Yakubu, said the MoU would give PHRC a new lease of life and curb unstable power supply to the facility.

He lauded the Federal Government for its commitment to addressing the power situation in PHRC and assured of its readiness to meet the target given to the corporation in the petroleum sector.

“We all know that power is strategic to all our operations and with this lengthy and conscientious agreement with an indigenous company on electricity, I believe that PHRC power situation would further improve and impact positively on the product output of the PHRC,” Yakubu said.

He expressed optimism that the new model with the company would help the corporation re-evaluate how to address power and utility challenges to its oil installations.

According to him, “we hope that this arrangement will be a win-win situation and it will be a test case that will add value to our installations.”

In his response, the Chief Executive Officer of Genesis Electricity Ltd, Mr Akinwole Omobo-riowo, assured the management of the NNPC of its preparedness to deploy the best power technology in the world to PHRC and provide qualitative electricity power supply to the plant.

PHRC has the mandate to provide efficient petroleum refining services primarily to the nation at a minimum cost and the international market at competitive prices, while spearheading the development and production of specialised petroleum products.

Comments (0)

Show/hide comments

Show/hide comment form

Name

Email

Website

Title

Comment

smaller | bigger

Subscribe via email (registered users only)

I have read and agree to the Terms of Usage.

Add Comment