Petroleum Products Retail outlets owners Association of Nigeria (PETROAN) has praised the management of NNPC Ltd, NMDPRA, Dangote Refinery, MEMAN, DAPPMAN, PETROAN as well as IPMAN for reaching a resolution for Oil Marketing Companies to buy all Dangote Refinery Products.
The resolution included Dangote Refinery guaranteeing to sell an average of 28,000,000 litres of PMS daily for the next six months to oil marketers for domestic consumption in the Nigerian market.
Those that signed the resolution according to the statement put out by the Association’s Public Relations Officer, Dr Joseph Obele, included, NMDPRA, NNPC Ltd, 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 National President of PETROAN, Dr Billy Gillis Harry, while addressing news men at PETROAN’s headquarters Abuja expressed optimism that the resolutions would bring succour to the downstream sector and improve the Nigerian economy.
According to PETROAN’s helmsman, the new deal was 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.
Harry added that the resolution would 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.
Additionally, a document showed to the press by the National Public Relations Officer, Dr Obele, indicated that 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 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 understanding to cover shortfalls for respective marketers.
He explained that by 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, adding that individual oil marketing companies are to enter direct commercial agreements with domestic refineries on a willing buyer, willing seller basis.