President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, has clarified the controversy surrounding the Port Harcourt refinery's operations.
Gillis-Harry discussed this on Wednesday during an interview on Arise TV News Night.
His reactions come amid claims by some critics that the Port Harcourt refinery is merely a blending plant upon its revival on Tuesday.
However, it was emphasized that blending is a standard practice in crude oil refining processes worldwide.
The Port Harcourt refinery, which resumed operations on Tuesday, has been touted as a crucial step in reducing Nigeria's reliance on fuel imports, adding that the
"NNPC was very transparent when they clearly stated that there is a blending process within the ambit of the industry."
"I do not know any refinery in the world today that does not engage in blending. And why do you blend? You blend because of the volatility of different products.
"So, for the PMS, the volatility rate is very high, and there has to be some kind of blending that will enable the volatility to be stable. Otherwise, you will buy gasoline at N10,000, and before you know it, it has evaporated."
Earlier, We reported that PETROAN clarified claims made by its spokesperson, Joseph Obele, that Port Harcourt Refinery petroleum products prices are higher than those of Dangote Refinery.
According to him, Obele was referring to the ex-depot price before the commencement of the Port Harcourt Refinery on Tuesday.
He stressed that he is optimistic the refinery will review its gasoline prices to a cheaper rate upon the kickoff of bulk sales to marketers.
Earlier, NNPCL had dismissed claims that it has fixed a price template for Port Harcourt Refinery.
Recall that Port Harcourt Refinery commenced operations and truckout of petroleum products on Tuesday.
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