The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has clarified that the Port Harcourt Refinery Company Limited has not issued a new purchase price for Premium Motor Spirit (PMS).
Dr. Billy Gillis-Harry, National President of PETROAN, disclosed this in a statement on Wednesday.
The announcement follows the Port Harcourt Refinery’s recent milestone of resuming operations after rehabilitation, marked by its first truck-out of petroleum products. The refinery, operated by the Nigerian National Petroleum Company Limited (NNPC Ltd.), is currently processing crude oil at 70% of its 60,000 barrels per day (bpd) capacity, with plans to increase to 90%.
Gillis-Harry stated that PETROAN members are still purchasing PMS using the old pricing template while awaiting official pricing updates.
“We are excited about the resumption of refined petroleum production and loading at the refinery. We anticipate that NNPC will soon release a new PMS price, ensuring Nigerians benefit from this development,” he said.
Meanwhile, Mr. Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd., confirmed that bulk sales and the purchase portal have not yet been launched, as final preparations are ongoing.
“Currently, products at our retail outlets are sourced from the Dangote Refinery, including applicable fees from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The Port Harcourt Refinery’s output is being supplied exclusively to our retail outlets,” Soneye explained.
He added that PMS prices at NNPC outlets are subject to regular review and adjustments as necessary.
