Osamagbe Imadiyi
The Port Harcourt Refinery Company Limited has not disclosed a new purchase price for Premium Motor Spirit (PMS), according to the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN).
PETROAN’s National President, Dr. Billy Gillis-Harry, announced this in a statement on Wednesday. According to the News Agency of Nigeria (NAN), the Nigerian National Petroleum Company Ltd. (NNPC Ltd.)-owned refinery started the first truck-out of petroleum products on Tuesday in light of the facility’s rehabilitation.
Re-streaming and truck loading marked the start of the plant’s processing of crude oil and the market delivery of petroleum products.With intentions to ramp up to 90% of its installed 60,000 barrels per day (bpd) capacity, the restored refinery is currently running at 70% of its capacity.
While waiting for the new prices, Gillis-Harry stated that PETROAN members only purchased PMS using the previous pricing template. In order to benefit Nigerians, he stated, “We are thrilled that the refinery has started producing and loading refined petroleum products, and we anticipate that NNPC will soon set the price of PMS.”
The Chief Corporate Communications Officer of NNPC Ltd., Mr. Olufemi Soneye, responded to this by stating that the business had not started selling in bulk.
“We have not launched bulk sales or opened the purchase portal yet because the required processes are still being completed.
“We currently purchase the goods we sell at our retail locations from the Dangote Refinery, which also includes the fees levied by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). At the moment, our retail locations use the Port Harcourt Refinery’s product”.