PETROAN Confirms N1,030 Petrol Price from Revamped Port Harcourt Refinery
Legit.ng journalist Victor Enengedi has over a decade's experience covering Energy, MSMEs, Technology and the Stock Market.
The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has revealed that petrol from the Port Harcourt refinery will be priced at N1,030 per litre.
Earlier this week, the NNPC received widespread praise from Nigerians for announcing the official commencement of crude oil processing at the Port Harcourt Refinery.
Source: Twitter
The NNPC had also clarified that bulk product sales have not begun at the refinery despite reports of product trucking on Tuesday, November 26.
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Port Harcourt refinery sets petrol price
According to a statement issued on Thursday by PETROAN’s spokesperson, Joseph Obele, the Nigerian National Petroleum Company Limited (NNPC) informed the association of the price of a litre of petrol from the refurbished refinery.
According to Punch, PETROAN revealed that petrol from the Port Harcourt refinery will be priced at N1,030 per litre.
The PETROAN spokesman said:
“NNPC Retail Ltd has officially announced the PMS price at the Port Harcourt refinery as N1,030 per litre. It was also communicated to PETROAN that the product request portal was open for booking/request.”
He stated that PETROAN’s strategic pricing team is currently evaluating the most advantageous pricing options for its members and remains open to sourcing products from all refineries across Nigeria.
Additionally, PETROAN appealed to NNPC Retail to further lower the petrol price, aiming to ensure Nigerians enjoy a joyous and affordable Yuletide season.
PH refinery fully operational, not blending
Addressing allegations that the Port Harcourt refinery is not operational as claimed by the NNPC, Obele affirmed that the facility is currently functional and producing refined petroleum products.
He further noted that NNPC’s top management, led by Mele Kyari, had invited stakeholders and journalists to the refinery to provide firsthand information and allow them to observe its operations directly.
Obele said:
"The old Port Harcourt refinery is currently operating at 70 per cent of its installed capacity, with plans to ramp up to 90 per cent.“
Obele clarified that contrary to rumours, the revamped refinery is not just a blending facility but is fully operational and productive.
He highlighted that the operational facility is the older refinery, which has a capacity of 60,000 barrels per day.
Meanwhile, the newer Port Harcourt refinery, with a capacity of 200,000 barrels per day, remains under rehabilitation but is expected to begin production soon, as announced by the NNPCL management.
Nigeria’s surpasses OPEC crude oil production quota
Meanwhile, Legit.ng earlier reported that the NNPC and the Nigeria Upstream Petroleum Regulatory Authority (NUPRA) announced that Nigeria’s crude oil production exceeded the 1.5 million barrels per day OPEC quota.
The NNPC spokesman disclosed this to clarify that there was no disparity between the crude oil production figures released by the NNPC and those of NUPRA.
The state oil firm maintained that it is working closely with relevant stakeholders to raise the nation’s crude oil production to two million barrels per day by the end of the year.
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Source: Legit.ng
