Refiners Upset As Marketers Reportedly Dump Dangote Refinery For Imported Petrol

The Crude Oil Refiners Association of Nigeria (CORAN) is upset because petroleum marketers are choosing to import petrol instead of buying from the Dangote Refinery.



Publicity Secretary of CORAN, Eche Idoko, made this known in a statement condemning the move.

His comments come as a report emerged that 141 million liters of PMS are being conveyed to Nigeria by oil vessels following the full deregulation of the downstream oil sector by the Federal Government.
Nigerian National Petroleum Company on Monday announced a fresh price list for its retail outlets nationwide upon the lifting of Dangote Petrol.
According to the NNPCL, the price adjustments will see petrol sold between N950 to N1,019.22 per liter depending on the location.
This comes after NNPCL trucks successfully lifted Petrol from Dangote Refinery on Sunday.
The development had created a price controversy between Dangote Refinery and NNPC. NNPC had insisted that it bought Dangote Petrol at a per liter pump price of N898, but the 650,000 barrels per day Lagos-based refinery had disagreed with the state-owned firm.
However, in the latest move, petrol marketers, who seemed unsatisfied with the price regime of Dangote Refinery, had to consider the importation of petrol.

Reacting to the development, CORAN alleged that some imported petrol was substandard and was blended in Malta or Togo.
“So I would assure you this regime will pay them way better than the regime of importing petroleum products, where they sell to us, substandard products blended in Malta or Togo and imported into our country,” Idoko stated.
He called for backward integration, saying some were afraid that Dangote would become a monopoly.
“The fear marketers are having is that Dangote will become a monopoly, but that has been taken care of by Dangote subscribing to our association.
“With the Petroleum Industry Act in place and all the agencies in play, there is no way that Dangote can become a monopoly”, he said.
from Dailypost