Breaking: NNPC’s Port Harcourt Refinery Price Reveal ‘Petrol Now Selling At N1,030’

Breaking: NNPC’s Port Harcourt Refinery Price Reveal ‘Petrol Now Selling At N1,030’

The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has confirmed that the Port Harcourt refinery will sell petrol (PMS) at N1,030 per litre. This follows an announcement by the Nigerian National Petroleum Company Limited (NNPCL), which affirmed that the refurbished refinery is operational…….READ MORE 

In a statement issued Thursday evening, PETROAN spokesman Joseph Obele stated that the NNPC Retail Ltd communicated the price of N1,030 per litre for petrol at the Port Harcourt refinery. Obele also noted that a product request portal is now open for booking.

“Our strategic pricing team is currently analyzing the best price for our members, and we are open to patronizing all refineries in Nigeria,” Obele said. He also encouraged NNPC to further reduce the price to ensure Nigerians enjoy a joyful festive season.

Earlier, the Dangote refinery reduced its PMS price by N20, setting it at N970 per litre.

Addressing concerns about the functionality of the refinery, Obele clarified that the Port Harcourt refinery is indeed operational, producing refined petroleum products. On November 26, 2024, NNPC management, led by Mele Kyari, took stakeholders and journalists on a tour of the plant to observe operations firsthand. Obele stressed that the refinery is working at 70% of its capacity, with plans to increase output to 90%.

“Contrary to claims that the refinery is merely a blending plant, we assure you that it is operational and producing refined products. PETROAN has direct access to the plant, and we invite anyone who doubts its functionality to visit with NNPC management for a tour,” Obele urged.

The Port Harcourt refinery complex consists of two plants: the older refinery with a capacity of 60,000 barrels per day (bpd) and the newer, larger refinery with a capacity of 200,000 bpd, which is still under rehabilitation but expected to begin production soon.

Obele also noted that a recent visit by the Senate Committee on Petroleum Resources, led by Senator Kawu Sumaila, confirmed the operational status of the refinery. During the visit, the committee saw petroleum trucks loading at the refinery depot.

PETROAN fully supports the planned privatization of the nation’s refineries and advocates for a transparent process that will lead to the transfer of the plants to a capable private firm.

One major concern raised by PETROAN is the condition of the Eleme East-West road, which poses a safety risk to petroleum trucks transporting flammable products. The association has called on the Federal Ministry of Works to expedite repairs on this crucial road.

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