Monday, 7 October 2024

JUST IN: NNPC quits as middleman in purchase of Dangote Refinery petrol. Read More....


 Dangote Industries Limited, said the 650,000 barrels per day Dangote Refinery has begun the processing of petrol.

But the NNPC, in reaction to a statement that the Dangote Refinery Limited is being undermined by actions of the company at the time, said it was not the sole offtaker of all products from the Dangote Refinery. It said the refinery was free to sell its petrol to any marketer.

The NNPC explained that the Dangote Refinery and any other domestic refinery were free to sell directly to any marketer on a willing buyer, willing seller basis, which is the current practice for all fully deregulated products such as diesel, aviation fuel and kerosene.

But on 15 September, the NNPC began loading petrol from the Dangote Refinery.

Although some major petroleum marketers were later reportedly approved to lift the product from the refinery under an agreement with NNPC Ltd, independent marketers remained excluded.

On 26 September, the House of Representatives called on the federal government to mandate the NNPC Ltd and Dangote Refinery to allow independent marketers to lift petrol directly from the refinery.

The lower chamber also urged the management of Dangote Refinery to build, acquire, or partner to establish tank farms or depots across the geo-political zones of the country, to ease access to petroleum products for the public.

This call followed a motion of urgent public importance moved on Thursday by Oboku Oforji (PDP, Bayelsa)...

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