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Wednesday, December 4, 2024

Oil marketers suspend petrol importation

.Lift 148.463m liters from Dangote Refinery in 10 weeks

Nigeria’s petrol supply chain is shifting as members of the Major Energy Marketers Association of Nigeria (MEMAN) or major oil marketers have suspended petrol importation, now fully relying on supplies from the Dangote Refinery.

According to the chief executive officer, MEMAN, Clement Isong, MEMAN members have licenses to import PMS introduced by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), but have in recent time relied on local supply from Dangote Refinery due to the competitive market framework already in place.

Speaking during the quarterly webinar organised by the association for energy editors, Isong, represented by Ogechi Nkwoji, Head of Economic Intelligence Research Regulation, noted that products lifted from Dangote Refinery were transported via trucks and vessels to marketers’ facilities in Lagos, highlighting the operational flexibility within the supply chain.

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Providing a detailed breakdown of volumes lifted during the 10 weeks, Isong stated that MEMAN members loaded 29,468,333 litres in Week 38 (September 16–22, 2024), followed by 20,843,322 litres in Week 39 and 27,236,283 litres in Week 40.

He said, “However, volumes began to decline in subsequent weeks, reaching a low of 1,600,000 litres in Week 46.

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