The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has refuted claims of a new petrol price from the Port Harcourt Refinery, clarifying that its members are still operating under the old pricing template. This announcement comes amid reports suggesting a significant price difference between petrol from the Port Harcourt Refinery and the Dangote Refinery.
In a statement issued on Wednesday, PETROAN’s National President, Billy Gillis-Harry, emphasized:
“Members of PETROAN only bought PMS with the old pricing template awaiting new prices. We are excited that the production and loading of refined petroleum products have commenced at the Port Harcourt Refinery, and we are expecting that soon, the price of PMS will be stated by NNPC to the benefit of Nigerians.”
The clarification prompted by reports that petrol from the Port Harcourt Refinery priced at ₦1,045 per litre, ₦75 higher than the ₦970 per litre charged by the Dangote Refinery.
The Nigerian National Petroleum Company Limited (NNPC) has also addressed the situation. In a statement by its Chief Corporate Communications Officer, Olufemi Soneye, the company confirmed:
- Bulk sales of petrol from the refinery have not commenced.
- The company is still finalizing processes for the purchase portal.
- Products currently being sold are sourced from the Dangote Refinery.
“The product from Port Harcourt is currently for our retail stores. Our prices are regularly reviewed and adjusted as required,” Soneye explained.
After a long period of rehabilitation, the Port Harcourt Refinery resumed operations on November 26, 2024, with truck loading of petroleum products now underway.
Key Highlights:
- The refinery consists of two units with a combined refining capacity of 210,000 barrels per day (bpd).
- Repair works commenced in 2019 under the management of Maire Tecnimont and technical advisement from oil major Eni.
- The Federal Executive Council (FEC) approved $1.5 billion for the rehabilitation in 2021.
Also the refinery’s reopening is expected to bolster domestic production and reduce reliance on imported refined petroleum products.
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