The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Ukadike Chinedu, has said that the Port Harcourt Refining Company Ltd and other state-owned refineries will stabilise the supply of Premium Motor Spirit (PMS) when they begin operation.
The comment came after the Nigerian National Petroleum Company Ltd announced a bid for Operations and Maintenance (O&M) Services for the Warri Refining and Petrochemical Company (WRPC), and Kaduna Refining and Petrochemical Company (KRPC).
The country faces setbacks in the availability of PMS which powers most vehicles.
The NNPCL which is mandated by the Petroleum Industry Act, 2021 to ensure energy security has recently said PMS supply costs is impacting supply sustainability.
According to the Chief Corporate Communications Officer, Olufemi Soneye, the financial strain has placed considerable pressure on the company.
However, he said NNPCL remains dedicated to its role as the supplier of last resort and ensuring national energy security.
Reacting to the development, the IPMAN secretary said the NNPC Ltd has tried to manage the logistics issues.
He said the Port Harcourt and Warri refineries are the best bet for the country to overcome the PMS supply issues.
Chinedu said, “I have visited the refineries, a lot of jobs have been done there. They have done a very wonderful job. The refinery is almost like a brand-new refinery.
“I heard that the federal government has supplied one million barrels of crude oil to the Port Harcourt refinery to be able to test run the lines.
“The Warri Refinery I heard is completed and the contractor has handed it over to NNPC.”
NewsNGR reported that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) had disclosed that 471,123 barrels of crude oil had been supplied to the Port Harcourt Refinery while 949,670 barrels were released to the Warri Refinery.