The Nigerian National Petroleum Company Limited (NNPC) has clarified the operational status of the Port Harcourt Refinery, stating that bulk sales of refined petroleum products have not commenced due to the ongoing finalization of essential processes.
Port Harcourt Refinery Still Undergoing Adjustments
The Port Harcourt Refining Company (PHRC), which recently resumed operations after rehabilitation, is currently producing refined petroleum at a capacity of 60,000 barrels per day (bpd).
Join our WhatsApp ChannelHowever, the refinery’s products are not yet available for bulk sales or public purchase.
In a statement issued on Friday, Mr. Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd., said, “Products from PHRC are exclusively for our retail stores at this stage. Our pricing is reviewed and adjusted periodically as necessary to reflect operational realities.”
NNPC’s Assurance on Official Announcements
NNPC emphasized that all petroleum products currently sold by its outlets are sourced from the Dangote Refinery, which includes the applicable fees set by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
“Currently, the products we are selling originate from the Dangote Refinery and include applicable Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) fees,” Soneye added.
The company assured the public that any updates on pricing or bulk sales from the Port Harcourt Refinery would be communicated officially to avoid misinformation. “We advise the public to disregard any misleading information regarding pricing. Official announcements will be made if and when price reviews occur,” Soneye explained.
READ ALSO: Port Harcourt Refinery Working At 90% As NNPC Refutes PETROAN’s 70% Operational Capacity
PETROAN’s Confirmation
The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has also confirmed that the Port Harcourt Refinery has not released new pricing for its products.
Instead, the association has been purchasing Premium Motor Spirit (PMS) using the old pricing template while awaiting an official update.
A PETROAN representative explained, “The refinery has not released any new price for products purchase. We are still using the old pricing template for now.”
Public Concerns Over Pricing by NNPC
Some petroleum marketers and Nigerians have raised concerns about potential pricing adjustments for the products refined at the Port Harcourt facility. NNPC has reiterated that its pricing strategies will be guided by operational realities and regulatory requirements.
The clarification comes amidst growing anticipation over the full resumption of operations at the Port Harcourt Refinery, a key facility in Nigeria’s energy landscape.
Moving Forward
As the Port Harcourt Refinery nears completion of its operational adjustments, stakeholders are closely watching for updates on bulk sales and pricing.
NNPC has reiterated its commitment to transparency and timely communication with the public regarding the refinery’s operations and pricing policies.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
