NNPC, Firm Signs MoU On Power Supply

The Nigeria National Petroleum Corporation NNPC on Monday in
Abuja signed a Memorandum of Understanding with Genesis Electricity Ltd. to
boost power supply to the Port Harcourt Refining Company (PHRC).

The Group Managing Director of the NNPC, Mr Andrew Yakubu,
said at the occasion that the MoU would give the company a new lease of life
with stable power supply.

“Power is strategic to all our operations. With this
agreement with an indigenous company on electricity, I believe that PHRC’s
power situation will improve and impact positively on its output. “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,’’ he said.

The Chief Executive Officer, Genesis Electricity, Mr
Akinwole Omoboriowo, assured of the company’s preparedness to deploy the best
power technology to PHRC.

He said the company would put in place all machinery to
ensure quality and regular power supply to the refinery.

The refinery has the mandate to provide efficient petroleum
refining services primarily to the nation at a minimum cost but its operations
has been hampered by dilapidated facilities.