Oil marketers have confirmed that blending operations at the recently revived Port Harcourt refinery have prevented petrol prices from escalating to N10,000 per litre. Billy Gillis-Harry, President of PETROAN, emphasized during an Arise TV interview that blending is a standard practice in refining crude oil and is necessary for stabilizing the volatility of petrol products.
Oil marketers have said that blending at the newly resuscitated Port Harcourt refinery has prevented petrol pump prices from rising to N10,000/litre.The President of the Petroleum Products Retail Outlets Owners Association of Nigeria , Billy Gillis-Harry , made the clarification during an interview on Arise TV on Wednesday night.He revealed that blending is a standard practice in crude oil refining processes worldwide.
“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.”The Port Harcourt refinery, which resumed operations on Tuesday, has been touted as a crucial step in reducing Nigeria's reliance on fuel imports. However, some critics have claimed that the refinery is merely a blending plant.
Oil Marketing Port Harcourt Refinery Petrol Prices Blending Process Crude Oil Refining PETROAN Billy Gillis-Harry
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