Oil Retailers Cry Out, Says Petrol From Port Harcourt Refinery Higher Than Dangote Refinery

Cat:

Related stories

Natasha vs Akpabio: Court Orders Senate President To Recall Senator Natasha

Warns Natasha Against inappropriate Conduct By Abiola Olawale The Federal...

Hadi Sirika Denies Defection to ADC Coalition Rumors, Reaffirms Loyalty to Buhari, APC

By Abiola Olawale Former Minister of Aviation, Hadi Sirika, has...

China Snubs U.S. Crude for Third Month, Even as Ethane Trade Restarts

China has avoided buying U.S. crude oil for three...

Super Eagles Icon Peter Rufai Passes Away at 61

By Abiola Olawale The Nigerian football community has been thrown...

Dakuku Peterside’s Beneath the Surface Book Out in October

By Abiola Olawale Masobe Books, a renowned publisher has announced...

By Abiola Olawale

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has expressed concern regarding the current pricing of the Premium Motor Spirit (PMS), commonly referred to as fuel produced by the Port Harcourt refinery, which commenced operation on Tuesday.

The union highlighted a significant disparity, revealing that the cost of fuel produced at the Port Harcourt Refinery is higher than that produced by the Dangote Refinery which is owned by Africa’s richest and business magnate, Alhaji Aliko Dangote.

This was disclosed by the union’s Public Relations Officer, Dr. Joseph Obele, during the official reopening ceremony of the refinery, which is now operating at a capacity of 60,000 barrels per day.

Obele disclosed that the Port-Harcourt refinery is presently selling its fuel at a price of N1045 per litre. According to him, this amount is N75 more than the cost of fuel at the Dangote Refinery.

He said the N75 price differential is a steep margin for businesses, particularly for an industry where profitability hinges on competitive pricing.

The New Diplomat reports that the Port-Harcourt refinery in Alesa Eleme, southeast of Port Harcourt, Rivers State, has commenced production and it is currently operating at 70%, according to the Nigerian National Petroleum Company Limited (NNPCL).

The NNPCL in a statement issued by its Chief Corporate Communications Officer, Olufemi Soneye, revealed that the Port Harcourt refinery has begun production of Kerosene, diesel, and Liquefied Petroleum Gas, among others.

The New Diplomat
The New Diplomathttps://newdiplomatng.com/
At The New Diplomat, we stand for ethical journalism, press freedom, accountable Republic, and gender equity. That is why at The New Diplomat, we are committed to speaking truth to power, fostering a robust community of responsible journalism, and using high-quality polls, data, and surveys to engage the public with compelling narratives about political, business, socio-economic, environmental, and situational dynamics in Nigeria, Africa, and globally.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

NDN
Latest News
Natasha vs Akpabio: Court Orders Senate President To Recall Senator NatashaHadi Sirika Denies Defection to ADC Coalition Rumors, Reaffirms Loyalty to Buhari, APCChina Snubs U.S. Crude for Third Month, Even as Ethane Trade RestartsSuper Eagles Icon Peter Rufai Passes Away at 61Dakuku Peterside’s Beneath the Surface Book Out in OctoberOil Prices Dip on Confirmation of Inventory BuildBuhari In Stable Condition - Ex-Aide ConfirmsBREAKING: Ex-President Buhari sick, hospitalised abroad2027: Abure, Usman Clash Over Peter Obi’s Rising Profile in ADC CoalitionMTN’s Dabengwa Tier III Cloud Data Centre: A New Era for West African Tech and AIGanduje: Why are they resigning?OPEC Reports a Global Oil Production Decline in 2024IMF Warns FG to Overhaul 2025 Budget to Prevent Economic Meltdown2027: Peter Obi Vows, Says ADC Coalition 'll prioritize Nigerians’ WelfareTragedy! Liverpool Star Diogo Jota Dies in Car Crash in Spain
X whatsapp