Ojulari explained that while progress continues across the Port Harcourt, Kaduna, and Warri refineries, divesting the assets is not under consideration.
The Nigerian National Petroleum Company Limited (NNPC Ltd) has dismissed reports suggesting plans to sell the Port Harcourt Refining Company.
Group Chief Executive Officer, Bashir Bayo Ojulari, clarified the company’s stance during a town hall meeting at the NNPC Towers in Abuja on Tuesday.
Ojulari explained that while progress continues across the Port Harcourt, Kaduna, and Warri refineries, divesting the assets is not under consideration. “Selling the refinery would lead to further value erosion and is not being considered,” he said.
He admitted that the earlier suggestion to restart operations at the Port Harcourt refinery before completing full rehabilitation was “ill‑informed and sub‑commercial.”
His clarification comes days after his comment at the 2025 OPEC Seminar in Vienna that “all options are on the table” sparked speculation about potential asset sales.
Ojulari reaffirmed NNPC’s role as a “strategic custodian of national energy infrastructure,” promising transparency, performance, and advanced technical partnerships for refinery rehabilitation.