Marketers and retailers of petroleum products are expected to start lifting Premium Motor Spirit (PMS), commonly known as petrol, from the Port Harcourt Refining Company (PHRC) this week, barring any last-minute changes.
This was disclosed by Joseph Obele, Publicity Secretary of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), in an exclusive interview.
According to Obele, since the refinery resumed operations in November 2024, it has primarily supplied fuel to retail outlets owned by the Nigerian National Petroleum Company Limited (NNPCL). While marketers continue to source fuel from the NNPCL, the products currently purchased are imported.
Obele raised concerns about price disparities, noting that the NNPCL sells PMS to retailers in Port Harcourt at a higher price than in Lagos. He urged the refinery to sell fuel at ₦899 per litre instead of the current ₦970 per litre, highlighting the economic strain on retailers and consumers.
The expected commencement of fuel lifting from the Port Harcourt Refinery is anticipated to ease supply chain pressures and improve market dynamics.
“NNPC is still telling us to buy at a rate different from the rate they are selling to Lagos at the moment because of logistics. So, Port Harcourt retail outlet owners are not really comfortable with that. Hence, the Port Harcourt refinery will start servicing us this week.
“We are also requesting that the same rate NNPC is selling to our members at Lagos should be the rate they will be selling to us over here in Port Harcourt too. We are not really comfortable with that disparity,” he disclosed.
Asked whether or not marketers in Port Harcourt and environs have started buying directly from the NNPC refinery, he replied, “No, but it will commence this week. The trucks loading out are for the NNPC retail outlets only.”
In his request to the NNPC, Obele stated, “We in Port Harcourt, we plead with the NNPC to sell to us at the same rate they are selling fuel to Lagos marketers. The difference is too much. It is N899 per litre in Lagos but N970 in Port Harcourt. It is far higher than that of Lagos.
“The way they explain it, it is like their own vessel will be bringing it and shipping it over to Port Harcourt depot for us to buy. So, we are now saying that since you will be selling directly to us from the refinery, you now have the stock available. Sell to us at the same rate you are selling to Lagos marketers.
“So, that’s where we are right now. Our request is that the NNPC should sell to us from the Port Harcourt refinery at the same rate they are selling the product to those in Lagos.”
Asked if he meant the NNPC was still importing fuel to Lagos, the PETROAN spokesman replied in the affirmative, saying “The stocks in Lagos are imported stocks.”
After several postponements, the NNPC announced in November that the old 60,000 barrels per day Port Harcourt refinery had resumed operations.
The NNPC promised that rehabilitation works at the new Port Harcourt refinery with 150,000 barrels per day capacity would soon be completed.
NNPC spokesman, Olufemi Soneye, confirmed that the refinery currently produces naptha which it blends to produce petrol.
(Punch)
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