Oil marketers have set conditions for patronizing the newly rehabilitated Port Harcourt Refinery, emphasizing that refined petroleum products from the refinery must be priced lower than those from the Dangote Refinery.
Cyber Reporters gathered that the marketers’ demand comes as the Nigerian National Petroleum Company Limited, NNPCL, clarified that it has not released official prices for its refined products.
The NNPCL stated that it is still reviewing prices and has not commenced bulk sales, with its purchasing portal remaining closed.
Cyber Reporters reports that products from the refinery are only supplied to NNPCL stations.
Marketers, however, confirmed that the NNPCL was selling petrol at N1,045 per litre, which could force them to consider importation to meet local demand.
The Port Harcourt Refinery resumed operations on Tuesday after years of inactivity, operating at 70% of its installed capacity.
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.
About 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.
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.
