PETROAN welcomes NNPCL’s call for private oil firms to run Port Harcourt Refinery

The Petroleum Product Retail Outlet Owners Association of Nigeria, PETROAN, says it is a positive development for private oil and gas firms to run the Port Harcourt refinery.

The Nigerian National Petroleum Company Limited, NNPCL, had earlier this week called for Expression of Interest, EOI, from qualified oil and gas firms to operate and maintain the Port Harcourt refinery.

Reacting to the call by NNPCL, the Rivers State Chairman of PETROAN, Francis Dimkpa in an interview with DAILY POST, said such a move will not only be profitable but will have economic value for the country and the host communities.

He said, “It is a positive development for a group or consortium or private individuals to run the refurbished Port Harcourt refinery under a special PPP agreement.

“Look at how the petrochemical company is operating, that is what we have always advocated, that the Port Harcourt Refinery should be made to run in that way so that it will not only be profitable, it will have economic value for the people, it will have economic value for the nation and it will have economic value for the host communities.

“Also, it will generate employment opportunities and have sustainability value.”

Dimkpa said with the Port Harcourt Refinery and Dangote Refinery coming on stream shortly, there will be availability of refined petroleum products and possible reduction in price across the country.

He said, “The Nigerian people should expect two things – availability of refined petroleum products, possible reduction in the pump price of petroleum products, or appropriate pricing of petroleum products in the nation.

“It may be a reduction, it may not be a reduction but there is going to be appropriate pricing.

“We are however convinced by economic indices that if these two refineries come on stream, there should be a possibility of a reduced price for petroleum products.”