Marketers and retailers of petroleum products are expected to begin loading Premium Motor Spirit, also known as petrol, from the Port Harcourt Refining Company this week, unless there are any last-minute changes, according to Joseph Obele, Publicity Secretary of PETROAN, SAVANNAH NEWSNOW REPORTS.
Since resuming operations in November 2024, the refinery has mainly supplied fuel to the Nigerian National Petroleum Company Limited’s retail outlets, while marketers have continued to source fuel from the NNPCL, albeit from imported products.
Obele expressed concerns about price disparities, pointing out that the NNPCL sells PMS to retailers in Port Harcourt at a higher price than in Lagos, and urged the refinery to sell fuel at ₦899 per litre instead of ₦970 per litre, highlighting the economic strain on retailers and consumers.
The anticipated commencement of fuel lifting from the Port Harcourt Refinery is expected to alleviate 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.”
Obele has urged the NNPC to sell fuel to marketers in Port Harcourt at the same rate as Lagos, citing a significant price disparity, with fuel costing N899 per litre in Lagos and N970 in Port Harcourt.
“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.”
The NNPC announced in November that the old 60,000 barrels per day Port Harcourt refinery had resumed operations after several postponements, and promised that rehabilitation works at the new refinery with 150,000 barrels per day capacity would soon be completed, with the refinery currently producing naptha which it blends to produce petrol.
