"Full List": NNPPC to Lose Monopoly as 7 Major Marketers Get Approval to Sell Dangote Fuel

"Full List": NNPPC to Lose Monopoly as 7 Major Marketers Get Approval to Sell Dangote Fuel

  • Members of MOMAN said they have registered with Dangote Refinery to start lifting products from the refinery
  • The association said that product lifting from the plant will commence immediately after works are finalised
  • The development comes as the Dangote refinery sought the approval of regulatory agencies to commence the sale of diesel and aviation fuel

Pascal Oparada has over a decade of experience covering Tech, Energy, Stocks, Investments, and Economy.

About seven major oil marketers in Nigeria have registered with the Dangote Petroleum Refinery to lift and distribute refined petroleum products from the plant.

Dealers under the auspices of the Major Oil Marketers Association of Nigeria (MOMAN) confirmed on Sunday, January 14, 2024, that with the registration, they would begin the distribution of fuel produced at the plant once the commercial terms are finalized.

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Dangote Refinery, NNPC, Oil Marketers
President of Dangote Industries Limited, Aliko Dangote Credit: Bloomberg/Contributor
Source: Facebook

Dangote refinery seeks approval to begin the sale of diesel and JetA1

The development comes as the refinery reportedly sought the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) approval to hit the market with diesel and aviation fuel anytime this month.

The refinery had stated that it would reach total production capacity by June and commence the production of Premium Motor Spirit (PMS), also known as petrol.

Also, the Independent Petroleum Marketers Association of Nigeria (IPMAN) disclosed that they would meet the refinery management this week to discuss the terms for product lifting.

The list of marketers registered with Dangote refinery for product lifting

Punch reports that the Product Retail Outlets Owners Association of Nigeria (PETROAN) said the association had engaged the refinery's management to supply products from the facility.

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Dangote refinery begins production of diesel, aviation fuel, products to hit market this month

The report said that major marketers who are members of MOMAN have already registered with the refinery and are set to start buying products from the plant.

The seven major marketers include 11 Plc, Conoil Plc, Ardoval Plc, MRS Oil, OVH Energy Marketing Limited, Total Nigeria, and NNPC Retail.

Dangote refinery begins production after getting six million barrels of crude oil

On December 8, 2023, the facility received one million barrels of Agbami crude grade from Shel International Trading and Shipping Company Limited (STASCO).

The refinery received another phase of crude stock from NNPC on December 20, 2023, with the third shipment of million barrels of oil feedstock from STASCO arriving on December 29, 2023, Legit.ng reported.

The NNPC also supplied the facility with its 4th crude and fifth consignment on January 1 and 5, 2024.

The Managing Director of Dangote Ports Operations, Akin Omole, told journalists at the Dangote Quay in Ibeju-Lekki in Lagos that the six million barrels would facilitate the initial run of the refinery as well as kick-start the production of diesel, aviation fuel, and Liquefied Petroleum Gas (LPG) before subsequently progressing to the production of Premium Motor Spirit (PMS)".

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According to the statement, the refinery can load 2,900 trucks daily at its truck-loading gantries, and its products will conform to Euro V specifications.

Aliko Dangote said the refinery has secured a license to refine more than 300,000 barrels of crude daily.

Meanwhile, the NNPC had, in August 2021, acquired a 20 per cent minority equity stake in the refinery.

Marketers peg petrol prices at N1,200/L as 6 new refineries are set to begin operations, NNPC reacts

Legit.ng reported that the Nigerian National Petroleum Company Limited and Independent Petroleum Marketers Association of Nigeria (IPMAN) members clashed on Tuesday, January 2, 2024, over petrol subsidy removal.

The development follows the naira crash against the US dollar in the official and parallel markets.

Legit.ng reported that the local currency closed at N988 per dollar at NAFEM and N1,225 on the black market on Tuesday, January 2, 20224.

Source: Legit.ng

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Pascal Oparada (Business editor) Pascal Oparada is a Mass Communications Graduate from Yaba College of Technology with over 10 years of experience in journalism. He has worked in reputable media organizations such as Daily Independent, TheNiche newspaper, and the Nigerian Xpress. He is a 2018 PwC Media Excellence Award winner. Email:pascal.oparada@corp.legit.ng