The National headquarters of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has commended the management of the Nigeria National Petroleum Company Limited (NNPCL), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the President of Dangote Refinery, Aliko Dangote, Major Energies Marketers Association of Nigeria (MEMAN), Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), and the Independent Petroleum Marketers Association of Nigeria (IPMAN) for reaching a resolution for oil marketing companies to buy all Dangote Refinery products.
Tribune Online reports that the resolution includes Dangote Refinery guaranteeing to sell an average of 28,000,000 (28 million litres) of PMS daily for the next six months to oil marketers for domestic consumption in the Nigerian market.
The national president of PETROAN, Billy Gillis-Harry, while addressing journalists at PETROAN’s headquarters in Abuja, over the weekend, expressed optimism that the resolutions will bring succour to the downstream sector and improve the Nigerian economy.
According to PETROAN’s national president, the new deal is part of a resolution reached by stakeholders on the absorption of domestic petroleum product production by Nigerian Oil Marketing Companies including the Nigerian National Petroleum Company Ltd.
He added that the resolution will attract so many benefits which include stability of petroleum products, control of price fluctuations, maintaining transparent communication, addressing conflicts proactively and fostering collaboration among key stakeholders players.
On his part, the national public relations officer (PRO) of PETROAN, Dr Joseph Obele said those that signed the resolution include NMDPRA, NNPCL, Edo Refinery, Dangote Refinery, Waltersmith Refinery, Aradel Refinery, Independent Petroleum Marketers Association of Nigeria and Petroleum Regulatory and Petroleum Products Retail Outlets owners Association of Nigeria.
The document as shown to the press by the Obele indicates the availability of aviation turbine kerosene and diesel from all domestic refineries would be provided to the NMDPRA for the same period of six months and which must be subject to consideration for import as may be required.
Obele noted that the NMDPRA must establish the basis for allocating import volumes to oil marketing companies on the assumptions of the aggregate of domestic refinery capacity with the understanding to cover shortfalls for respective marketers.
According to the spokesperson, with the resolution, the domestic refineries would provide fixed quantities and delivery windows, which must be a period of two months preceding the month of delivery to the customer and NMDPRA while adding that individual oil marketing companies are to enter direct commercial agreements with domestic refineries on a willing buyer, willing seller basis.
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