Oil marketers have outlined key conditions for patronizing the recently rehabilitated Port Harcourt Refinery Company (PHRC), managed by the Nigerian National Petroleum Company Limited (NNPCL). The marketers insist the refinery must sell its refined petroleum products at prices below those of the Dangote Petroleum Refinery to ensure competitiveness.
Marketers revealed that Dangote Refinery currently sells petrol at ₦970 per litre, while imported petrol prices hover around the same figure. In contrast, NNPC's last price for Premium Motor Spirit (PMS) was reportedly ₦1,045 per litre.
The Port Harcourt Refinery, which resumed operations on November 26, 2024, after years of inactivity, is refining at 70% of its installed capacity. Initial output includes 1.5 million litres of diesel, 1.4 million litres of Straight-Run Gasoline (naphtha), 900,000 litres of kerosene, and 2.1 million litres of low-pour fuel oil daily.
NNPCL spokesperson Olufemi Soneye clarified that refined products from PHRC are currently limited to NNPCL stations and have not yet been sold in bulk to other marketers. He stated, “We have not commenced bulk sales or opened the purchase portal, as processes are still being finalized.”
Meanwhile, oil marketers are exploring the importation of PMS to meet local demands amid uncertainties over domestic pricing. Documents show that 105.67 million litres of petrol were imported into Nigeria between November 23 and November 28, 2024, with multiple vessels berthed at Lagos, Calabar, and other ports.
Stakeholders hope domestic refineries, including Dangote and Port Harcourt, will stabilize fuel supplies and ease dependence on imports. However, marketers have emphasized they will prioritize price competitiveness when sourcing products.
