Marketers commence direct petrol purchase from Dangote Refinery<\/p>\n
The Dangote Petroleum Refinery has started supplying Premium Motor Spirit, popularly called petrol, to some oil marketers directly without recourse to the Nigerian National Petroleum Company Limited.<\/p>\n
It was gathered that while more oil marketers were intensifying efforts to buy the product directly from the plant, others were importing the commodity, as hundreds of millions of litres of imported PMS should hit Nigeria\u2019s shores in two weeks\u2019 time.<\/p>\n
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It was earlier gathered on Monday that no fewer than four vessels carrying imported PMS arrived at seaports situated along the nation\u2019s borders between Friday, October 18, and Sunday, October 20.<\/p>\n
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The report cited a document obtained from the Nigerian Port Authority, which showed that about 123.4 million litres of PMS were berthed at two seaports to improve fuel supply nationwide.<\/p>\n
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The development confirmed an earlier exclusive report by The PUNCH, which disclosed that oil dealers intend to import the commodity to supplement the supply from the $20bn Dangote refinery.<\/p>\n
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Meanwhile, as major oil marketers import the commodity, their counterparts have started lifting PMS directly from the Lekki-based plant.<\/p>\n
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A senior official at the refinery said marketers are now allowed to approach the company for direct business transactions on a willing-buyer, willing-seller basis.<\/p>\n
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\u201cMarketers are already coming to the refinery to lift PMS. They are lifting directly from the refinery, not through a third party,\u201d the reliable official, who spoke in confidence due to lack of authorisation to speak on the matter, stated.<\/p>\n
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The source, who could not tell the price at which marketers were lifting the product, noted that the oil dealers would not come if the price was not favourable to them.<\/p>\n
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\u201cWe have reached agreements with some of the marketers and more are still ongoing. I don\u2019t know the exact price, but if the price is not good, the marketers would not be coming to us,\u201d the official stated.<\/p>\n
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He maintained that things are improving, especially as the Federal Government commenced the supply of crude to the facility.<\/p>\n
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Another official at the facility showed one of our correspondents the trucks of some marketers loading the product directly from the plant without going through NNPC.<\/p>\n
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\u201cSome of the trucks you saw there today were from marketers purchasing the product directly from Dangote, without recourse to NNPC. So the direct sale has started,\u201d the source stated.<\/p>\n
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The official explained that due to the high demand for petrol in Nigeria and other countries, the refinery had focused on ensuring 53 per cent of PMS production from its crude oil supplies.<\/p>\n
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\u201cThis could be reviewed in future if the demand for other finished products increases more than the demand for petrol, but right now about 53 per cent of our crude is used for petrol production, while other products account for the remaining percentage,\u201d the official stated.<\/p>\n
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When asked if marketers had started the direct purchase of petrol from Dangote without recourse to NNPC, one of the notable major marketers in the country replied in the affirmative.<\/p>\n
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\u201cYes, everyone is in the process. This was advised that it would happen soon and is a normal business transaction,\u201d the source stated.<\/p>\n
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But this is contrary to claims from some quarters that the refinery would not be able to sell petrol to marketers unless the deal between it and the NNPC is terminated.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Marketers commence direct petrol purchase from Dangote Refinery The Dangote Petroleum Refinery has started supplying Premium Motor Spirit, popularly called petrol, to some oil marketers directly without recourse to the Nigerian National Petroleum Company Limited. It was gathered that while more oil marketers were intensifying efforts to buy the product directly from the plant, others […]<\/p>\n","protected":false},"author":2,"featured_media":144973,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,79,2,18],"tags":[192,895,436,720],"class_list":{"0":"post-145280","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"category-economy","9":"category-featured","10":"category-news","11":"tag-dangote-refinery","12":"tag-marketers","13":"tag-nnpcl","14":"tag-petrol"},"yoast_head":"\n