No New PMS Price Yet From Port Harcourt Refinery – PETROAN

The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has clarified that no new purchase price for Premium Motor Spirit (PMS) has been issued by the Port Harcourt Refinery Company Limited.  

Dr. Billy Gillis-Harry, National President of PETROAN, made this known in a statement on Wednesday.

His statement follows the refinery’s recent commencement of crude oil processing and truck-out of petroleum products after its rehabilitation by the Nigerian National Petroleum Company Limited (NNPC Ltd.).  

The refinery, currently operating at 70% of its installed capacity of 60,000 barrels per day, aims to ramp up production to 90% in the coming months.  

Gillis-Harry emphasized that PETROAN members have been purchasing PMS based on the old pricing template and are awaiting an updated price structure from the NNPC.  

“We are excited that production and loading have started at the refinery, and we expect NNPC to soon announce a new PMS price for the benefit of Nigerians,” he stated.  

In response, Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd., explained that bulk sales have not yet commenced and the purchase portal remains closed while necessary processes are being finalized.  

“For now, the products sold at our retail outlets are sourced from the Dangote Refinery and include regulatory fees from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). Currently, the Port Harcourt Refinery’s output is exclusively for NNPC retail stores,” Soneye added.