Executive Chairman, Chrome Oil Services, Mr Emeka Offor, says importation of Premium Motor Spirit (PMS) would drop by about 40 percent when critical unit of the Port-Harcourt refinery begins operation.
“Hope of petroleum products supply stability is about to be accomplished as we at Chrome Oil Services company, the major contractors handling key rehabilitation of the Port Harcourt refinery will complete work on the FCCU [Fluid Catalytic Cracking Unit],” he told energy correspondents on Sunday.
“The FCCU is about 98 per cent completed and we are hopeful that by next week it will be completed, and it will reduce 40 per cent on Federal Government importation of refined products.
“The company is among other contractors carrying out overhaul of the facility as government takes giant steps to revamp the country’s four refineries in a bid to address the lingering fuel scarcity,” he said.
Offor assured Nigerians that when the Port Harcourt refinery becomes fully operational, the unit would concentrate on the production of petrol which would go a long way in reducing importation.
He noted that the lack of Turn-Around Maintenance (TAM) of the existing refineries in the country had contributed to the perennial fuel scarcity.
“Over time, the refineries are working but below installed capacity, the last TAM was done in 2000 and this is an exercise that should be carried out every two years.
“The inability of the refineries to refine at full capacity further complicated the fuel supply situation across major cities in the country,” he said.