NAIRAMETRICS
The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has stated that the Port Harcourt Refinery Company Limited has not yet released any new purchase price for Premium Motor Spirit (PMS).
Dr. Billy Gillis-Harry, the National President of PETROAN, made the announcement in a statement on Wednesday.
According to NAN, the refinery, operated by the Nigerian National Petroleum Company (NNPC), began its first truck-out of petroleum products on Tuesday, marking the re-streaming of the rehabilitated facility.
This re-streaming and the commencement of truck loading signal the beginning of crude oil processing at the plant, with plans to deliver petroleum products to the market.
Currently operating at 70% of its 60,000 barrels per day (bpd) capacity, the rehabilitated refinery aims to ramp up its production to 90% in the coming months.
In response, Dr. Gillis-Harry noted that PETROAN members have been purchasing PMS based on the old pricing template while awaiting the announcement of new prices.
“We are pleased that production and loading of refined petroleum products have begun at the refinery, and we expect NNPC to soon announce the new price of PMS for the benefit of Nigerians,” he said.
In reaction, Mr. Olufemi Soneye, the Chief Corporate Communications Officer of NNPC Ltd., clarified that the company had not yet commenced bulk sales.
“We have not yet started bulk sales, nor have we opened the purchase portal as we are still finalizing the necessary processes,” Soneye explained.
He further stated that the products currently being sold at NNPC retail outlets were sourced from the Dangote Refinery, which includes the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) fees.
