Relief as Marketers Begin to Import Petrol for Q1

15 Jan 2013

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Some oil marketing and trading (OM&T) companies that received import allocations for the first quarter of 2013 have started bringing in their cargoes of premium motor spirit (PMS), THISDAY has learnt.

This development, which is coming amid increasing concern over the refusal of banks to give loans to some of the importers, however, has the potential to end the fuel supply shock experienced in the last couple of months.

THISDAY had reported exclusively that 32 marketers were issued import allocation to bring in PMS for the first quarter of 2013.

Investigation has however revealed that the Petroleum Products Pricing Regulatory Agency (PPPRA) actually issued the allocations to the marketers in 2012 and not the beginning of 2013.

However, the exercise, which characteristically, was shrouded in secrecy, was not made public until THISDAY broke the story.

Some marketers, who spoke to THISDAY during the weekend, confirmed that they got the allocations in December 2012.

The marketers also confirmed that many of them had brought in their cargoes, as part of the first quarter allocation.

“Our first cargo for the first quarter 2013 berthed at Apapa on January 4, 2013 and discharged two days ago. The PPPRA gave us the allocation since last year, otherwise we would not have started bringing in the cargoes by now. You know how long it takes to raise letters of credit (LCs) and how long it takes for imported cargo to arrive the country. You should also remember that after getting the import allocation from the PPPRA, each marketer is also required to obtain import permit from the Department of Petroleum Resources (DPR) to cover the volumes approved by the PPPRA. If you add all that, you can estimate when PPPRA gave us the allocation,” one of the marketers explained.

The 32 participating companies are Nigerian National Petroleum Corporation (NNPC), Aiteo Energy, Ascon Oil, Avidor Oil and Gas, A-Z Petroleum, Bovas, Conoil Plc, Dee Jones Petroleum and Gas, Dozzy Oil and Gas, Folawiyo Energy, Fresh Synergy Ltd and Forte Oil Plc.

Others are: First Deepwater Discovery Ltd, Gulf Treasure Ltd, Heyden Petroleum, Ibafon Oil Ltd, Integrated Oil and Gas Industries, IPMAN Refining and Marketing Ltd, Mobil Oil Plc, MRS Oil & Gas Ltd, MRS Oil Nig. Plc, NIPCO Plc, Northwest Petroleum & Gas Ltd, Oando Plc, Obat Petroleum Ltd, RainOil Ltd, Rahamaniyya Oil Gas and Sahara Energy Ltd.

The list also includes Shorelink Oil Ltd, Swift Oil Ltd, Techno Oil Ltd and Total Nigeria Plc.

Since the last quarter of 2011 when the number of marketers importing petrol peaked at 128, the PPPRA has slashed the number from 128 to 42 in the first quarter 2012, 39 in the third quarter and 38 in the fourth quarter.

Tags: Business, Nigeria, Featured, Marketers, Petrol, Q1



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