… Guaranteed 28 Million Liters Of PMS Daily For Six Months
The Dangote Refinery and Petrochemical Company has guarantee to sell an average of 28,000,000 litres of PMS daily for the next six months to oil marketers for domestic consumption in the Nigerian market.
The agreement, according to a resolution reached after a meeting, is subject to review as necessary.
The new deal is part of a resolution reached by stakeholders on the absorption of domestic petroleum product production by Nigerian Oil Marketing Companies including the Nigerian National Petroleum Company Ltd.
The resolution, obtained by THE WHISTLER was signed by officials from the Nigerian Midstream and Downstream Petroleum Regulatory Authority, the NNPC Ltd, Major Energies Marketers Association of Nigeria, and Depot and Petroleum Products Marketers Association of Nigeria.
Others that signed the resolution are Edo Refinery, Dangote Refinery, Waltersmith Refinery, Aradel Refinery, Independent Petroleum Marketers Association of Nigeria and Petroleum Regulatory and Petroleum Products Retail Outlets owners Association of Nigeria.
The document stated that availability of Aviation Turbine Kerosene and diesel from all domestic refineries would be provided to the NMDPRA for the same period of six months and must be subject to consideration for import as may be required
It noted that the NMDPRA must establish the basis for allocating import volumes to oil marketing companies on the assumptions of the aggregate of domestic refinery capacity with understanding to cover shortfalls for respective marketers.
This, it added, must be based on validated needs by company and current national depots evacuation.
According to the resolution, the domestic refineries would provide fixed quantities and delivery windows, which must be a period of two months preceding the month of delivery to the customer and NMDPRA.
It added that individual oil marketing companies are to enter direct commercial agreements with domestic refineries on a willing buyer, willing seller basis.
In terms of fees, it was resolved that all NMDPRA fees (including MDGIF) must be included in every sales invoice issued by domestic refineries.
The document stated, “Further to the engagement between NNPCL, MEMAN and DAPPMAN of 13’° November 2024 and subsequent revisions with the NMDPRA and other stakeholders, the following framework shall be executed.
“Dangote Refinery is to guarantee an average of 28,000,000 litres of PMS daily for the next 6 months subject to review as necessary. Availability of ATK and AGO from all domestic refineries shall be provided to The NMDPRA for same period and be subject of consideration for import as may be required.
“NMDPRA to establish basis for allocating import volumes to OMCs on the assumptions of the aggregate of domestic refinery capacity with understanding to cover shortfalls for respective marketers based on validated needs by company and current national depots evacuation.
“The domestic refineries to provide fixed quantities and delivery windows 2 months preceding the month of delivery (M-2) to the customer and NMDPRA.
“Individual OMCs to enter direct commercial agreements with Domestic refineries on a willing buyer willing seller basis.”
ENDS
Oil Marketing Companies To Buy All Dangote Refinery Products is first published on The Whistler Newspaper