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Oil marketers have outlined conditions for patronizing the newly rehabilitated Port Harcourt Refinery in Rivers State, managed by the Nigerian National Petroleum Company Limited (NNPCL). They emphasized that refined petroleum products from the refinery must be priced below those from the Dangote Refinery to attract their business. ...READ THE FULL STORY FROM SOURCE ...READ THE FULL STORY FROM SOURCE
In response to claims that the NNPCL’s petrol price was around N1,045 per litre, the company clarified on Wednesday that it has not released official prices. Currently, products from the refinery are only supplied to NNPCL stations.
According to NNPCL spokesperson Olufemi Soneye, the company is still reviewing prices and has not started bulk sales, as its purchasing portal remains closed.
Additionally, oil marketers imported 105.67 million litres of petrol into the country between November 23 and November 28.
Marketers confirmed that NNPCL was selling petrol at N1,045 per litre, which could force them to consider importation to meet local demand.
According to The PUNCH, documents from the Nigerian Ports Authority revealed that four vessels carrying petrol arrived in the country during this period, with shipments berthed at Lagos Apapa Port and the Ebughu jetty in Cross Rivers State.
On Tuesday, the Port Harcourt Refinery resumed operations after years of inactivity, operating at 70% of its installed capacity.
NNPCL announced that the refinery’s daily outputs include 1.5 million litres of diesel, 2.1 million litres of low-pour fuel oil, 1.4 million litres of naphtha blended into premium motor spirit (PMS), and 900,000 litres of kerosene. Around 200 trucks of petrol are expected to be distributed daily.
Despite initial excitement, concerns arose among marketers about the refinery’s pricing strategy. Dangote Refinery currently sells petrol at N970 per litre for bulk purchases, and independent marketers have signaled a preference for whichever supplier offers lower prices.
Chinedu Ukadike, National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), stated that a high price from the Port Harcourt Refinery would discourage marketers, though he anticipated a price review in line with global trends.
Meanwhile, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) dismissed claims of NNPC petrol being more expensive than Dangote’s.
PETROAN President Billy Gillis-Harry affirmed that members were still purchasing based on old pricing templates, awaiting updated prices from the Port Harcourt Refinery.
In a separate statement, the NNPCL confirmed that its current stock, including products procured from Dangote Refinery, is for its retail stations. The company reiterated that bulk sales from the Port Harcourt Refinery had not commenced as price reviews were still ongoing.…READ THE FULL STORY FROM SOURCE : …READ THE FULL STORY FROM SOURCE
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