Port Harcourt Refinery First Export Shipment of Low Sulfur Fuel Oil

The Port Harcourt Refinery has commenced operations with the export of its first shipment of 15,000 metric tons (13.6 million liters) of Low Sulfur Straight Run Fuel Oil (LSSR) to Gulf Transport & Trading Limited (GTT), a Dubai-based company.

The Wonder Star MR1 vessel is set to transport the cargo, marking the refinery’s debut in global petroleum exports.

This development introduces a new player into the global Very Low Sulfur Fuel Oil (VLSFO) market, with the shipment sold at an $8.50/t discount to the NWE 0.5% benchmark.

The LSSR export, featuring a sulfur content of 0.26% and a density of 0.918 g/ml at 15°C, could influence market dynamics for Atlantic Basin exporters.

The refinery also produces substantial volumes of petrol, kerosene, diesel, and Low Pour Fuel Oil (LPFO) daily, significantly reducing Nigeria’s dependence on petroleum imports.

These outputs are achieved by blending locally produced Naphtha with imported high-octane gasoline.

In collaboration with the Dangote Refinery, this progress enhances Nigeria’s energy independence and export capacity.

PETROAN has secured partnerships with both refineries to ensure steady and affordable fuel supply during the festive season, stabilizing the national supply chain.