The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) says the Nigerian National Petroleum Company (NNPC) Limited 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,
signed by Joseph Obele, its national publicity secretary.
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 NNPC, 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.
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