The President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, has addressed concerns regarding the operations of the Port Harcourt refinery, emphasizing that blending is a standard practice in crude oil refining worldwide.
Speaking during an interview on Arise TV News Night, Gillis-Harry clarified misconceptions suggesting that the refinery functions merely as a blending plant following its resumption of operations on Tuesday.
He highlighted the transparency of the Nigerian National Petroleum Corporation Limited (NNPCL) in disclosing the refinery’s processes, noting that blending is necessary to stabilize the volatility of different products, particularly Premium Motor Spirit (PMS).
He explained that without blending, the volatility of PMS could lead to rapid evaporation, making the product unstable for consumers.
Earlier reports indicated debates over the pricing of petroleum products from the Port Harcourt Refinery compared to the Dangote Refinery. Gillis-Harry clarified that comments made by PETROAN spokesperson Joseph Obele referred to the ex-depot price before the refinery resumed operations.
He expressed optimism that gasoline prices would become more competitive as bulk sales to marketers commence.
The NNPCL has dismissed claims of a fixed price template for the refinery, reaffirming its commitment to market-driven pricing. The resumption of operations and the truck-out of petroleum products from the Port Harcourt Refinery mark a significant step in reducing Nigeria’s dependence on fuel imports.
Be the first to comment