Olufemi Soneye, the Chief Corporate Communications Officer of the Nigerian National Petroleum Company Limited (NNPCL), has made a major announcement regarding the distribution of products from the Port Harcourt Refinery Company (PHRC).
According to Soneye, these products are "currently designated exclusively for NNPCL retail outlets." This decision signifies a strategic move by NNPCL to control the distribution channels of its refinery outputs.
The announcement clarifies that the Port Harcourt Refinery has not yet commenced bulk sales, and its purchase portal remains inactive. This indicates that the refinery is still in the process of finalizing necessary operational procedures before expanding its sales operations.
In the interim, NNPCL continues to market products sourced from the Dangote Refinery and Petrochemicals, which include fees from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
This exclusive distribution strategy highlights NNPCL's focus on maintaining regulatory compliance and managing its supply chain effectively. By limiting the distribution of Port Harcourt Refinery products to its own retail outlets, NNPCL ensures tighter control over pricing and availability, which can be crucial in a volatile market environment.
Soneye also mentioned that NNPCL regularly reviews and adjusts product prices as required. This flexibility in pricing suggests an adaptive approach to market conditions, allowing NNPCL to respond to changes in demand or cost structures efficiently.
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