November 28, 2024
Due to price differential, oil marketers have outlined the conditions that will make them patronize the newly rehabilitated Port Harcourt Refinery Company.
The marketers are insisting that the PHRC, under the management of the Nigerian National Petroleum Company Limited, must dispense its refined petroleum products below the prices of the Dangote Petroleum Refinery.
Reacting to the demand, on Wednesday, the NNPCL, whose petrol price was currently about N1,045/litre, stated that the refinery has not released its prices, as products from the plant were solely dispensed to NNPCL stations.
NNPCL spokesperson, Olufemi Soneye, explained that the company was still reviewing its prices and was yet to commence bulk sales hence it portal is closed for now.
The 60,000-capacity Port-Harcourt refinery resumed operations on Tuesday after years of inactivity.
The NNPCL had said that the newly rehabilitated complex of the old Port Harcourt refinery, that was been revamped and upgraded with modern equipment, is operating at a refining capacity of 70 per cent of its installed capacity.
NNPCL, stated that diesel and Pour Fuel Oil would be the highest output from the refinery, with a daily capacity of 1.5 million litres and 2.1 million litres, respectively.
READ MORE; BREAKING: At Last Port Harcourt Refinery Begins Operation
According to the oil giant, this would be followed by a daily output of Straight-Run Gasoline (Naphtha) blended into 1.4 million litres of Premium Motor Spirit (petrol), 900,000 litres of kerosene, and low-pour fuel oil of 2.1 million litres.
It was stated that about 200 trucks of petrol would be released into the Nigerian market daily.
However, claims that the national oil firm’s PMS price was higher than that of Dangote triggered diverse reactions from marketers.
While Dangote refinery currently sells his petrol at N970/litre, while imported petrol is around that price, the state-owned oil company sells a litre of PMS at N1,040 or N1,045
The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, told one of our correspondents that though NNPC had yet to release any price for the products from the refurbished Port Harcourt refinery, a high price would discourage marketers.
