Ahead of Petroleum Products Distribution, Dangote Refinery Approves Seven Major Marketers
01.15.2024 By Tank Terminals - NEWS

January 15, 2024 [PSN]- In readiness for the purchase and distribution of its refined petroleum products, Dangote Petroleum Refinery has approved seven major oil marketers.

 

They are Total Nigeria Plc, 11 Plc, Conoil Plc, Ardova Plc, MRS Oil Nigeria Plc, OVH Energy Marketing Limited, and NNPC Retail.

The Major Oil Marketers Association of Nigeria (MOMAN) said as soon as commercial terms are finalized with Dangote, marketers will commence the distribution of fuel from the refinery.

Other industry stakeholders, including the Independent Petroleum Marketers Association of Nigeria (IPMAN) and Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), are also engaging with the Dangote Refinery for terms of product loading and supply.

Persecondnews reported that on January 12, 2024, the Dangote Petroleum Refinery had announced the commencement of production of Automotive Gas Oil (diesel) and JetA1 (aviation fuel).

MOMAN CEO, Mr Clement Isong, confirmed that all members had registered with the Dangote Petroleum Refinery for a seamless process for purchasing and selling the refined products.

The registration was initiated in 2023.

According to Isong, the commercial terms would be individually negotiated with each marketer.

He expressed the hope that the products would be available at major filling stations as soon as the refinery makes them accessible.

On pricing, Isong said the refinery is expected to sell its products at market prices to recover costs, both capital and operational, and also make profit.

Persecondnews recalls that the President of Dangote Group, Aliko Dangote, had at the commencement of production expressed gratitude for the support received, especially acknowledging President Bola Tinubu, the Nigerian National Petroleum Company Limited, and other regulatory bodies.

Located in Lekki on Lagos island, the refinery with a daily refining capacity of 650,000 barrels, has so far received six million barrels of crude oil to kick-start production.

 

Pro Trial: Access 12,600 Tank Terminal and Production Facilities

12,600 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

PetroVietnam Gas to Launch LNG Trucking Business
03.04.2024 - NEWS
March 4, 2024 [LNG Prime]- PetroVietnam Gas, a unit of state-owned PetroVietnam, will this month ... Read More
Three Firms Join Forces on $3.3 Billion LNG-to-Power Project in Philippines
03.04.2024 - NEWS
March 4, 2024 [LNG Prime]- Power companies Meralco PowerGen, Aboitiz Power, and San Miguel Global... Read More
OPEC+ Members Extend Oil Output Cuts to Second Quarter
03.04.2024 - NEWS
March 4, 2024 [Reuters]- OPEC+ members led by Saudi Arabia and Russia agreed on Sunday to extend ... Read More
Russia Says to Deepen Oil Output Cuts While Easing Export Limits
03.04.2024 - NEWS
March 4, 2024 [Reuters]- Russia will cut its oil output and exports by an additional 471,000 barr... Read More