The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has confirmed that the Port Harcourt Refinery Company Limited has not yet announced a new purchase price for Premium Motor Spirit (PMS).
Dr. Billy Gillis-Harry, National President of PETROAN, made this statement in a release on Wednesday.
The News Agency of Nigeria (NAN) reports that the Port Harcourt Refinery, operated by the Nigerian National Petroleum Company Ltd. (NNPC Ltd.), began its first truck-out of petroleum products on Tuesday following the re-streaming of the rehabilitated facility. This marked the start of crude oil processing at the refinery and the delivery of refined petroleum products to the market.
Currently, the refinery is running at 70% of its installed capacity of 60,000 barrels per day (bpd), with plans to increase production to 90%.
In response, Gillis-Harry stated that PETROAN members are still purchasing PMS at the old price while waiting for the updated pricing from NNPC Ltd. “We are excited that production and loading of refined petroleum products have started at the refinery, and we expect NNPC to soon announce the new price of PMS for the benefit of Nigerians,” he said.
On the other hand, Mr. Olufemi Soneye, Chief Corporate Communications Officer at NNPC Ltd., clarified that the company has not yet begun bulk sales or opened the purchase portal, as they are still finalizing the necessary processes.
He added, “At present, the products sold at our retail outlets are those purchased from the Dangote Refinery, including the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) fees. The product from the Port Harcourt Refinery is currently available only for our retail stores.”
Soneye also emphasized that NNPC regularly reviews and adjusts its prices as needed.
