The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) says the Nigerian National Petroleum Company Limited (NNPCL) has contracted ‘UOP, an international firm, to evaluate the condition’ of the Port Harcourt refinery ahead of potential investment.
PETROAN disclosed the arrangement in a statement on Sunday by Joseph Obele, its national publicity secretary, Joseph Obele.
Honeywell UOP, formerly known as UOP LLC, is a leading American multi-national company that specialises in developing and delivering technology to the petroleum refining, gas processing, petrochemical production and major manufacturing industries.
The association commended Bayo Ojulari, the group chief executive officer of the NNPCL, for awarding the assessment contract.
‘PETROAN expressed appreciation for the decision to engage a technical partner to assess the plant’s condition, enabling informed decision-making by potential investors’, the statement reads.
‘This development signals a positive step towards restoring the refinery’s functionality’.
The group also said it endorses the move by the NNPC to revive the refinery under a technical and equity (T&E) partnership model, calling for transparent procedures.
PETROAN asked the federal government to consider reputable foreign companies as technical and equity partners in the management of the facility.
‘We advocate that the refinery revival process be transparent, expedited, and devoid of political interference’, the statement reads.
Furthermore, we urge that reputable foreign companies be given fair consideration in the partnership process’.
Billy Gillis-Harry, the national president of PETROAN, said the adoption of the T&E model, already in use at the Nigeria Liquefied Natural Gas (NLNG) Bonny plant, would restore the refinery’s efficiency.
‘The operationalisation of the refinery will serve as a price check mechanism, providing a vital safeguard against monopoly in the downstream sector’, Gillis-Harry was quoted as saying.
‘We believe this will yield necessary benefits to stakeholders, host communities, retailers, and consumers by promoting competitive pricing and preventing unfair market practices’.
PETROAN also expressed appreciation to President Bola Tinubu for his commitment to infrastructure development, particularly the ongoing rehabilitation of the Eleme expressway, a key route for petroleum product distribution from the refinery.
The organisation said it is looking forward to the successful completion of the initiative, expressing belief that it will boost the local economy and enhance petroleum product availability.
