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The Petroleum Merchandise Retail Retailers House owners Affiliation of Nigeria (PETROAN) has acknowledged that the worth of Premium Motor Spirit churned out by the outdated Port Harcourt Refinery is dearer than Dangote Refinery’s product.
This was disclosed by the union’s Public Relations Officer, Dr. Joseph Obele, in the course of the official reopening ceremony of the refinery, which is now working at a capability of 60,000 barrels per day.
He mentioned the gasoline from the outdated Port Harcourt Refinery is N75 per litre larger than that bought by the Dangote Refinery.
He mentioned Dangote Refinery sells petrol to entrepreneurs at N970 per litre, NNPCL’s value stands at N1045, a distinction of N75 per litre.
He mentioned the N75 value differential is a steep margin for companies, significantly for an business the place profitability hinges on aggressive pricing.
Recall that the Nigerian Nationwide Petroleum Firm Restricted (NNPCL) had confirmed The Bureau Newspaper’ unique experiences that solely the outdated Port Harcourt Refinery in Rivers State is working and the refinery shouldn’t be trucking out PMS (generally known as petrol) however blended gasoline.
The NNPCL made the affirmation in a press release issued by its Chief Company Communications Officer, Olufemi Soneye.
Soneye mentioned that the outdated Port Harcourt Refinery is at present working at 70% of its put in capability and that it produces Straight-Run Gasoline (Naphtha), blended into 1.4 million liters of Premium Motor Spirit (PMS), popularly generally known as petrol each day.
The Bureau Newspaper earlier reported that prime sources within the know of the operation of the refinery revealed to The Bureau Newspaper that NNPCL was not trucking out PMS from the Port Harcourt Refinery as the corporate claimed on Tuesday.
The Bureau Newspaper had been knowledgeable that the NNPCL as an alternative purchased “Cracked C5 petroleum resins” and blended it with different merchandise together with Naphtha to promote to the Nigerian public as if the refinery processed it.
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