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PH refinery products currently reserved for our retail outlets – NNPC
From Adanna Nnamani, Abuja
The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has clarified that no new price for Premium Motor Spirit (PMS) has been released by the Nigerian National Petroleum Corporation (NNPC) following the resumption of production at the Port Harcourt Refinery.
In a statement issued by the National President of PETROAN, Dr. Billy Sotubo Gillis-Harry, the association confirmed that its members are currently purchasing PMS at the old pricing template while awaiting an official announcement of new prices.
“PETROAN) Abuja would like to inform the media and the general public that no new price for PMS has been released by the NNPC port Harcourt refinery.
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 expectant that soon the price of PMS will be stated by NNPC to the benefit of Nigerians,” Gillis-Harry stated.
Reacting to PETROAN’s statement, Olufemi Soneye, Chief Corporate Communications Officer of NNPC Limited, clarified the current state of operations at the refinery.
He noted in a phone chat that refined products from the Port Harcourt refinery are currently reserved for NNPC’s retail outlets. “We have not yet commenced bulk sales, and we have not yet opened the purchase portal as we are still finalising the necessary processes.
At present, the products we are selling are what we bought from the Dangote Refinery, which includes NMDPRA fees. The product from PH is currently for our retail stores. Our prices are regularly reviewed and adjusted as required,” Soneye explained.
The Port Harcourt Refinery recently resumed operations after years of rehabilitation, a development that has been welcomed by industry stakeholders and consumers. However, the industry awaits a formal announcement from NNPC on the new pricing framework for PMS.