New Petrol Prices as Marketers Import 123 Million Litres, Continue Talks with Dangote Refinery
by by Pascal Oparada · Legit.ng News · Join- Oil marketers have imported about 123 million litres of petrol as they continue negotiations with the Dangote Refinery
- Four vessels carrying the products arrived at the Lagos and Calabar seaports on Friday, October 18, and Sunday, October 20, 2024
- Reports disclosed that it was not clear if any of the vessel belonged to the Nigerian National Petroleum Corporation Limited
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
About four vessels carrying imported petrol arrived at Nigeria’s seaports on Friday. October 18, 2024, and Sunday, October 20, 2024.
A Nigerian Ports Authority (NPA) document on Sunday, October 20, 2024, showed that about 123.4 million litres of PMS arrived at two seaports to improve fuel supply nationwide.
Marketers plan to supplement Dangote petrol
Legit.ng had earlier reported that marketers intend to import petrol to augment the supply from the Dangote Refinery.
The dealers disclosed that the refinery supply was insufficient to meet local demands.
The document's breakdown shows that the products landed at the Apapa port in Lagos and the Calabar port in Cross River State.
It has not been ascertained if any of the vessels belonged to the Nigerian National Petroleum Company Limited (NNPC) or the marketers.
Punch reports that the first shipment carrying 35,000 metric tonnes of petrol allocated to West African Port Services docked at Terminal ASPM jetty on Friday, October 18, 2024, at about 10.13 am.
Another vessel containing 37,000 metric tonnes of fuel was assigned to Intership docked at 3.37 pm at terminal ASPM jetty.
According to reports, as of 3.59 pm on Friday, October 18, 2024, another vessel with 10,000 metric tonnes of fuel arrived and was assigned to Peak Shipping as its agent.
Another vessel carrying 10,000 metric tonnes of fuel arrived at the Eco Marine terminal at 8:02 am on Sunday at the Calabar port, bringing the total to four vessels with 92,000 metric tonnes.
NMDPRC to inspect products
At the conversion rate of 1,341 litres to one metric tonne, the marketers imported about 123.4 million litres of petrol.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRC) spokesman, George Ene-Ita, disclosed that marketers with approved import licenses were free to import petrol.
Ene-Ita disclosed that the agency must subject the products to three major tests.
He said that the products must conform to approved standards before being allowed to leave the terminals.
He said the tests are done at the product's origins, and further tests are conducted when they arrive to ensure they meet specifications.
FG revokes petrol import licenses
Legit.ng earlier reported that the Nigerian government had unveiled new regulations to simplify petrol import licensing and other industry operational rules and distilled them into a single document.
The NMDPRA stated that former guidelines regarding midstream and downstream operations operated by the defunct Department of Petroleum Resources (DPR) have become obsolete and revoked.
The NMDPRA stated that former guidelines regarding midstream and downstream operations operated by the defunct Department of Petroleum Resources (DPR) have become obsolete and revoked.
Proofread by Kola Muhammed, journalist and copyeditor at Legit.ng