Oil marketers have outlined conditions under which they would consider purchasing products from the newly rehabilitated Port Harcourt Refinery Company (PHRC) in Rivers State. They stated that the Nigerian National Petroleum Company Limited (NNPCL), which now manages the refinery, must offer its refined petroleum products at prices lower than those set by the Dangote Petroleum Refinery.
In response to claims that petrol from the Port Harcourt refinery was priced at approximately N1,045 per litre, NNPCL clarified that the refinery has yet to officially release its prices.
Currently, products from the plant are only available at NNPCL stations, and the company is still reviewing its pricing strategy. NNPCL spokesperson Olufemi Soneye explained that bulk sales have not yet started, as the refinery’s purchasing portal remains closed.
Meanwhile, oil marketers reported that they had imported 105.67 million litres of petrol into Nigeria within five days to meet local demand. They confirmed that NNPC was selling petrol at N1,045 per litre, and warned they might resort to imports if domestic supply issues persist.
The Port Harcourt refinery, which has a capacity of 60,000 barrels per day, resumed operations on Tuesday after years of dormancy, garnering praise from Nigerians and industry stakeholders. NNPC stated that the refinery is currently operating at 70% of its installed capacity, with expected outputs including diesel, low-pour fuel oil, and petrol. Specifically, the refinery is set to produce 1.5 million litres of diesel, 2.1 million litres of low-pour fuel oil, and 1.4 million litres of blended Premium Motor Spirit (petrol) daily. Additionally, 200 trucks of petrol are expected to be released into the market each day.
However, the pricing of petrol from NNPCL’s refinery has sparked concerns among marketers, particularly as it appears to be higher than that of Dangote’s refinery, leading to mixed reactions within the industry.
