The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has revealed that the Nigerian National Petroleum Company (NNPC) Limited has engaged UOP, an international oil and gas technology firm, to evaluate the state of the Port Harcourt refinery as part of ongoing efforts to attract investment.
The disclosure came in a statement issued by Joseph Obele, PETROAN’s national publicity secretary, who noted that Honeywell UOP, formerly UOP LLC, is a renowned American multinational that provides refining, gas processing, and petrochemical technology across major industries.
The association praised NNPC Group Chief Executive Officer, Bayo Ojulari, for commissioning the assessment, describing it as an important step toward reviving one of Nigeria’s key oil assets.
“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 said. “This development signals a positive step towards restoring the refinery’s functionality.”
The group also welcomed NNPC’s plan to revive the facility under a technical and equity partnership model, but urged transparency in the process. It called on the federal government to prioritize reputable foreign companies in any equity and management agreements.
“We advocate that the refinery revival process be transparent, expedited, and devoid of political interference,” the statement added. “Furthermore, we urge that reputable foreign companies be given fair consideration in the partnership process.”
PETROAN’s national president, Billy Gillis-Harry, stressed that the adoption of the technical and equity framework, already proven effective at the Nigeria Liquefied Natural Gas plant in Bonny, would significantly improve 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 said. “We believe this will yield necessary benefits to stakeholders, host communities, retailers, and consumers by promoting competitive pricing and preventing unfair market practices.”
The association also thanked President Bola Tinubu for his commitment to infrastructure upgrades, especially the rehabilitation of the Eleme expressway, which it described as a critical route for petroleum distribution from the refinery. PETROAN expressed optimism that completing the project would enhance product availability and stimulate local economic growth.
