The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has commended the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Engr. Bayo Ojulari, for initiating steps to revive the Port Harcourt Refinery through the adoption of the Technical and Equity (T&E) partnership model.
In a statement signed by its National PRO, Dr. Joseph Obele, PETROAN said the recent award of an assessment contract to UOP, a reputable international firm, reflects a strong commitment to making the refinery fully functional.
The association praised the decision to involve a technical partner in assessing the plant’s condition, describing it as a move that will enable informed decisions by potential investors. PETROAN noted that the T&E model has been successfully applied at the Nigeria Liquefied Natural Gas (NLNG) plant in Bonny, stressing that its adoption for the refinery will ensure operational efficiency.
The National President of PETROAN, Dr. Billy Gillis-Harry, emphasized that the operationalization of the refinery would serve as a price check mechanism in the downstream sector. According to him, this will prevent monopoly, promote competitive pricing, and benefit stakeholders, host communities, retailers, and consumers alike.
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He also expressed appreciation to President Bola Ahmed Tinubu for his leadership in advancing energy security and economic growth, particularly through infrastructure projects such as the ongoing rehabilitation of the Eleme Express Road a critical route for petroleum product distribution.
While endorsing the refinery revival process, PETROAN urged that it be transparent, expedited, and devoid of political interference. The association further advocated that reputable foreign companies be given fair consideration in the partnership process.
“We look forward to the successful completion of this initiative and believe it will boost the local economy and enhance petroleum product availability,” the statement added.
