PETROAN commends Ojulari, supports adoption of T&E model for Port Harcourt Refinery

Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has commended the Nigerian National Petroleum Corporation Limited’s Group Chief Executive Officer, Engr Bayo Ojulari, for initiating the process of reviving the Port Harcourt Refinery through an assessment of the plant for a potential private firm under the Technical and Equity (T&E) partnership model.

The group, in a statement on Saturday, noted that the T&E model had proven effective at the Nigerian Liquefied Natural Gas (NLNG) Bonny.

“With the assessment contract awarded to UOP, a renowned international firm, it demonstrates a commitment to making the refinery functional.

“PETROAN expressed appreciation for the decision to engage a technical partner to assess the plant’s condition, enabling informed decision-making by potential investors.

“This development signals a positive step towards restoring the refinery’s functionality,” it read.

The National Public Relations Officer of PETROAN, Dr Joseph Obele, said the group strongly supported its adoption for the Port Harcourt Refinery, trusting that it would bring operational effectiveness and efficiency.

The National President of PETROAN, Dr Billy Gillis Harry, also expressed appreciation to President Bola Ahmed Tinubu for his leadership and vision in driving initiatives that will boost the nation’s economy and enhance energy security.

“We also thank him for his commitment to infrastructure development, particularly the ongoing efforts to fix the Eleme Express road, a critical route for trucks conveying petroleum products from the refinery.

“The operationalization of the refinery will serve as a price check mechanism, providing a vital safeguard against any form of monopoly in Nigeria’s downstream sector.

“We believe this will yield necessary benefits to stakeholders, host communities, retailers, and consumers by promoting competitive pricing and preventing unfair market practices,” he said.

The president advocated that the refinery revival process be transparent, expedited, and devoid of political interference.

“Furthermore, we urge 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 by the group read.

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