PETROAN: says marketers now loading petrol from Port Harcourt, Warri refineries
The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN)has said its members have started loading petroleum products from the Port Harcourt and Warri refineries.
In a statement on Saturday, Joseph Obele, PETROAN’s spokesman, stated that the loading has reduced previous doubts that the refineries owned by the Nigerian National Petroleum Company Limited (NNPC) were not fully operational.
“PETROAN members are now loading petroleum products, including Dual-Purpose Kerosene, Automotive Gas Oil, and Premium Motor Spirits,” he said.
“The resurgence of these refineries has sparked intense competition, expected to drive down petroleum prices.
“As Nigerians advocate for lower PMS prices, it is clear that competition is a crucial factor in triggering price reductions.
“The refineries’ revitalisation has brought numerous benefits, including the eradication of adulterated diesel and kerosene from the market.”
Obele stated that the lack of functional refineries resulted in the widespread circulation of counterfeit petroleum products, putting consumers at serious risk.
“The refineries’ functionality has also contributed to a decrease in crude oil theft, which has hindered Nigeria’s ability to meet OPEC production targets,” he said.
”As crude oil production increases, Nigeria is expected to generate more revenue and stabilise the naira.”
