Stakeholders in the oil and gas industry have said the commencement of production at the Port Harcourt Refining Company will engender competition, crash the pump price of petroleum products and create jobs for Nigerians.

Recall that the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari had on Tuesday inaugurated a 60,000 barrel per day capacity plant at the old Port Harcourt Refinery Deport.

During the event, Kyari said the other sections of the refinery will be completed in due course.

The stakeholders, including the Independent Petroleum Marketers Association of Nigeria, said this while speaking with newsmen at the sideline of resumption of production at the Port Harcourt Refinery and loading of trucks at the facility located in Eleme, Rivers State on Tuesday.

The IPMAN Chairman in Rivers State, Tekena Ikpaki, said the coming on stream of the Port Harcourt Refinery while confirming the loading of products into trucks while describing it as a remarkable achievement.

Ikpaki stated, “This will remain memorable in our lives and in our hearts because it has been long expected.

“Now it is no longer expected, it is real, it can be seen and felt. Trucks have been coming in and loading out and we have been witnessing the process.”

Asked what the operation of the Port Harcourt Refinery and the Dangote Refinery together mean for the downstream sector, he said it will engender competition and reduce the cost of petroleum products.

Tekena stated, “You know in God’s time He makes all things beautiful and this is just the best thing that will happen to Nigerians. I mean there is super competition now in the system which is in favour of the entire Nigerians.

“When Dangote and the NNPCL are at loggerheads and they are competing, who enjoys the dividends? Of course you and I. So I believe that since the refinery has come on stream, Dangote is there too, it will further push down the price of products.

“Over the weekend, Dangote had announced price reduction both on the marine and trucking, coming from perhaps the resumed operation of the Port Harcourt Refinery. So I think price reduction will be experienced and it will be in our favour and the favour of Nigerians.”

While expressing the optimism that more trucks are expected to come into the facility to load products in the coming days, saying the event of Tuesday was a test run.

“Yes because it is still a test run. You know the place (Refinery) has been moribund for some time. For now, it is still hypothetical but in no distant time everything will be in its proper place and the inflow of trucks will be seen again the way it used to be, ” the Rivers State IPMAN Chairman said.

On its part, the Petroleum Product Retail Outlet Owners Association of Nigeria said the commencement of production after five years will create job opportunities, boost the nation’s economy and bring about competition in the downstream sector.

The National Public Relations Officer of PETROAN, Joseph Obelle said this also corroborated the opinion of IPMAN that it will lead to a reduction in the price of Premium Motor Spirit also known as Petrol.

Obellei further said the association will continue to work with the management of the NNPCL, retail management and other stakeholders to ensure that products lifted at the Port Harcourt Refinery depot are well distributed to all nooks and crannies of the nation.

He commended President Bola Tinubu and the management of the NNPCL for their commitment to reviving the refinery.

He added, “PETRAON expresses optimism for the commencement of production at the Port Harcourt Refinery.

“We are so sure that it will offer job opportunities, boost the economy of the country and trigger competition in the downstream sector which we reflect significantly to price reduction.

“We want to commend the leadership of the NNPC led by the Group CEO, Mele Kyari for demonstrating leadership with his team towards seeing the Port Harcourt Refinery becoming a reality.”

Obelle added, “Funding would have been an issue if not for the determination of Mr President. So we also commend President Bola Tinubu for releasing funds for the Port Harcourt Refinery rehabilitation”

He lauded the host communities for providing a peaceful atmosphere for the rehabilitation of the refinery and called on the company handling the reconstruction of the Eleme section of the East-West Road to ensure speedy completion of the road for smooth movement of trucks carrying petroleum products from the refinery to other parts of the country.

Source: https://punchng.com/port-harcourt-refineryll-crash-fuel-price-create-jobs-ipman-petraon/

Story...


I don't want to sound like a pessimist. But I give that refinery 1 year max before it goes back to redundancy.

Much ado about something that would not last!

Great news
2025 is gonna be great

brain54:
Story...


I don't want to sound like a pessimist. But I give that refinery 1 year max before it goes back to redundancy.

Much ado about something that would not last!

Exactly what I wanted to say

brain54:
Story...


I don't want to sound like a pessimist. But I give that refinery 1 year max before it goes back to redundancy.

Much ado about something that would not last!

Dont think so ....

Dangote is a slap on the face of NNPC...

So they got to keep it running..by fire by force ..

If FG can also privatise Warri and Kaduna ...

It also keep them in check ...

That's the hope of every Nigerian, the suffering is too much.

brain54:
Story...


I don't want to sound like a pessimist. But I give that refinery 1 year max before it goes back to redundancy.

Much ado about something that would not last!

Exactly my fears too.
We are just too eager to celebrate any mediocre thing.

Great100000:


Source: https://punchng.com/port-harcourt-refineryll-crash-fuel-price-create-jobs-ipman-petraon/

Na mumu dem dey follow talk

All these politicians done realize say Nigerians na mumu

FTC

How can it crash prize when it's selling higher than Dangote by N75?

Crash price by 20naira reduction

Lamba Refinery.

Truth go soon come out. No be Nigeria again

Make una rest jor!
Cho cho cho everytime

brain54:
Story...


I don't want to sound like a pessimist. But I give that refinery 1 year max before it goes back to redundancy.

Much ado about something that would not last!

enemy of progress

Nice

;Dlol okay

Aamin o!

Those who are pessimistic should also be similarly pessimistic about their affairs!

Nigeria will win whether you like it or not!

And it won't be Obi's tenure ever!

You dey listen to oil cartel?

Hope to mugu

60kbpd capacity refinery would be doing competition with 650kbpd refinery, I don't understand.

Why can't you people make the three state own refineries to work in full capacity before you start talking of competition and bringing the price down.

TheTundeMuniru:
That's the hope of every Nigerian, the suffering is too much.

It will never happen,they just fixed the price to get more money

Great100000:


Source: https://punchng.com/port-harcourt-refineryll-crash-fuel-price-create-jobs-ipman-petraon/

This people really mean am for Dangote
.

brain54:
Story...


I don't want to sound like a pessimist. But I give that refinery 1 year max before it goes back to redundancy.

Much ado about something that would not last!

After posting this, now you are happy 😁

Only bad news make you and your family happy.

So I wish you many happy news. You know what I mean.

Lies lies lies.

Gradually Nigerians are drifting off fuel consumption. Very soon you people will refine and drink it because we are returning back to the stone ages where camels, horses and donkeys are good means of transportation

Lanretoye:
Crash price by 20naira reduction

lol these guys are mad my brother.u increase smthg with 1k and reduce it either 25naira

This is what we heard when that Lagos refinery were built, where are we today?

Shimbo96:
enemy of progress

Abeg leave them o. They never wanted Nigeria to work and whether they like it or not, Nigeria will work and in their own time. They will witness it, live!

Now i truly believe these IPMAN sources dont know much about energy economics. They keep saying rubbish and increasing the hopes of the masses

How can one say a 60,000bpd refinery that is blending petrol will compete with a 650,000bpd single train facility.

crash,like say e go go back 200 naira,mtchewwwww

Season 2 Episode One

Story...let it work and to full capacity. Push for this and leave all this propaganda . Warri and Kaduna needs to come on board too . Push for it

Fuel whey una don tag at 1000 per litre? No be only crash na crumble