By Divine Sam
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has raised concerns about the price of petrol from the Port Harcourt Refining Company (PHRC), suggesting it may be as high as N1,030 per litre. This price, according to IPMAN, is significantly above the cost of petrol from the Dangote Refinery, and if it is confirmed, they have warned they will avoid purchasing from PHRC. However, the Nigerian National Petroleum Company Limited (NNPCL) has denied these claims, stating that the price of petrol from the PHRC is yet to be officially disclosed, and is subject to periodic reviews.
The PHRC has temporarily scaled down operations to address technical upgrades, including replacing outdated equipment to improve efficiency. Despite this, distribution of petroleum products, including Premium Motor Spirit (PMS), kerosene, and diesel, continues, though there has been a low turnout of tanker drivers.
Industry experts and groups like the Crude Oil Refineries Owners Association of Nigeria (CORAN) and energy consultant Henry Adigun explained that blending naphtha with cracked C5 in the production of petrol could lower costs, though they raised concerns over the environmental impact if the components are imported. Adigun further projected that the cost of petrol from the PHRC should be between N860 and N870 per litre, based on current production methods.