“Full List”: Dangote Registers 3 Oil Marketing Associations following Refinery Takeoff
- The Dangote Refinery has disclosed that about three prominent oil marketers have registered with the facility
- The company stated that the marketers contribute 75% of the total market share in Nigeria
- The marketers include PETROBAN, MOMAN, and IPMAN, which control major petroleum product distribution in Nigeria
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Pascal Oparada has over a decade of experience covering Tech, Energy, Stocks, Investments, and Economy.
Following the commencement of production at the Dangote Petroleum Refinery, the facility has confirmed the registration of three oil marketers as its pioneer distributors.
The company said in a statement on X (formerly Twitter) that the Dangote Group listed marketers include the Depot and Petroleum Products Association of Nigeria (PETROBAN), Major Oil Marketers Association of Nigeria (MOMAN), and Independent Association Petroleum Marketers Association of Nigeria (IPMAN).
Source: UGC
Dangote reveals why it granted the authorisation
The company said the three prominent associations contribute to 75% of the total market in Nigeria.
The statement said:
“The Depot and Petroleum Products Marketers Association of Nigeria, the Independent Petroleum Marketers Association of Nigeria, and the Major Oil Marketers Association of Nigeria,” the post read.
Daily Trust reports that the company disclosed that it is still considering other marketers that have shown interest in partnering with the $20 billion refinery.
The development comes as oil marketers clarified on Monday, January 22, 2024, that petroleum products from the Dangote refinery will be sold in naira and not in the US dollar as previously speculated.
The dealers in the downstream oil sector said that the registration process for marketers at the refinery was still ongoing.
FG meets with Dangote refinery to set pricing
According to reports, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) met with the refinery management to set the pricing template for products from the $20 billion refinery.
The Dangote refinery announced on January 12, 2024, that it had commenced the production of diesel and aviation fuel.
Aliko Dangote, the President of the Dangote Group, said in a statement that the refinery started the production of diesel and aviation fuel, which will hit the market in January upon receiving regulatory approvals.
Dangote said:
“This is an important achievement for our country as it demonstrates our ability to develop and deliver large capital projects. This is a game changer for our country, and I am very fulfilled with the actualization of this project.”
List of oil marketing companies authorised to lift fuel
Further reports said that about seven major oil marketers in Nigeria had registered with the facility to lift and distribute refined petroleum products from the plant.
Punch reports that the seven major marketers include 11 Plc, Conoil Plc, Ardova Plc, MRS Oil Nigeria Plc, OVH Energy Marketing Limited, Total Nigeria Plc and NNPC Retail.
Another report revealed that the facility will supply fuel to about 150,000 retailers operated by Independent Petroleum Marketers Association of Nigeria (IPMAN) members after a meeting between the refinery management and IPMAN executives.
NNPC uncovers 83 illegal refineries as Abia
Legit.ng reported that the Nigerian National Petroleum Company Limited (NNPCL) revealed that in the past week, it uncovered about 15 illegal pipeline connections and 83 illegal refineries in the Niger Delta.
The company disclosed this via its official X handle recently.
The national oil firm revealed in a documentary that between January 6 and 12, about 211 cases of vandalism were recorded in Owerri and Rivers State.
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Source: Legit.ng
