THREE MARKETERS TO IMPORT 141 MILLION LITRES OF PETROL
Summary of the Article:
Three major oil marketers are set to import approximately 141 million litres of Premium Motor Spirit (PMS) into Nigeria this week. This follows the full deregulation of the downstream oil sector by the Federal Government.
Key Points:
1. PMS Imports Expected:
Three major oil marketers are expecting vessels carrying about 141 million litres of petrol. Each vessel is set to deliver around 35,000 metric tonnes of PMS.
2. Deregulation Enables Imports:
The full deregulation of the downstream oil sector, along with the recent increase in pump prices by the Dangote Petroleum Refinery, has facilitated these imports.
3. NNPC's Price Announcement:
The Nigerian National Petroleum Company Limited (NNPC) announced that petrol from the Dangote Refinery would be sold at over N1,000 per litre in some regions, with the highest prices in the northern states.
4. Testing Requirements for Imports:
All imported petrol will be subjected to stringent tests by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to ensure the quality meets required standards before it can be sold in the market.
5. Importation Process:
The vessels are expected to arrive in staggered intervals, as importing such large quantities requires careful scheduling due to storage and logistical constraints.
Summary of the Article:
Three major oil marketers are set to import approximately 141 million litres of Premium Motor Spirit (PMS) into Nigeria this week. This follows the full deregulation of the downstream oil sector by the Federal Government.
Key Points:
1. PMS Imports Expected:
Three major oil marketers are expecting vessels carrying about 141 million litres of petrol. Each vessel is set to deliver around 35,000 metric tonnes of PMS.
2. Deregulation Enables Imports:
The full deregulation of the downstream oil sector, along with the recent increase in pump prices by the Dangote Petroleum Refinery, has facilitated these imports.
3. NNPC's Price Announcement:
The Nigerian National Petroleum Company Limited (NNPC) announced that petrol from the Dangote Refinery would be sold at over N1,000 per litre in some regions, with the highest prices in the northern states.
4. Testing Requirements for Imports:
All imported petrol will be subjected to stringent tests by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to ensure the quality meets required standards before it can be sold in the market.
5. Importation Process:
The vessels are expected to arrive in staggered intervals, as importing such large quantities requires careful scheduling due to storage and logistical constraints.
