Marketers May Access Petrol From PH Refinery This Week – IPMAN

Independent Petroleum Marketers Association of Nigeria, IPMAN, yesterday expressed optimism that its members would be able to load products from the Port Harcourt refinery this week.

The NNPC Limited owned 60,000 barrels per day refinery which commenced operations last week is said to be refining at 70 percent capacity.

Speaking to Vanguard, the Public Relations Officer, IPMAN, Chief Chinedu Ukadike, said the refinery currently supplies only NNPC retail and a few marketers.

Ukadike explained that with the expected increase in the supply of petroleum products from the refinery, independent marketers were expected to load products from the facility.

He also disclosed that marketers were now lifting directly from Dangote Refinery after the deal reached with the management and the decision of the refinery to reduce the minimum bulk purchase for marketers to two million litres for petrol.

“Our members are buying products from Dangote Refinery because Dangote has finally reduced the minimum quantity of bulk purchase to two million litres. So most of our members are now able to access it”.

Ukadike pointed out that getting access to load directly from the refineries has made the market more competitive as independent marketers are now able to compete with other major marketers.

“Petroleum products distribution has been smooth and there are no queues but what you will see is a bit of price differentials. This is the beauty of deregulation. Not only that but with the coming onstream of Port Harcourt Refinery there is also less pressure on Dangote products.

“Although most marketers have not started accessing products from Port Harcourt refinery hopefully by next week (this week), according to an official of NNPC, they will have enough to accommodate independent marketers”.

Source:- Vanguardngr