NNPC increases number of oil marketers in order to curtail fuel scarcity

NNPC increases number of oil marketers in order to curtail fuel scarcity

The Nigerian National Petroleum Company Limited (NNPC) has increased the number of significant oil marketers in Nigeria from seven to twenty as part of efforts to address the country’s ongoing fuel shortage.

According to a document published on Sunday, December 11, 2022; there are now 27 big downstream marketers thanks to the national oil company’s improvement.

This is the first move in more than 25 years to upgrade 20 oil companies and filling stations to the category of large oil marketers. The only seven significant oil marketers in the nation prior to this most recent judgment were TotalEnergies, OVH Energy (Oando); as well as MRS, Conoil Plc, Ardova Plc, 11 Plc, and NNPC Retail Limited.

With the upgrade of the stations to major marketers status; the firms would now get products directly from the NNPC at regulated prices of N148/litre.

Also Read: Benue Gov, Ortom carpets Ayu, says arrogance destroying PDP

This also means that the stations would be mandated to sell products to consumers at regulated prices of between N170/N190 per litre depending on the location.

The latest document showed that the NNPC conferred the status of major marketers on 20 new marketers in the downstream oil sector.

The document revealed how the NNPC; in a letter with reference number PPMC/CS/ED/17, dated November 21, 2022, titled; ‘RE: Approval to operate under the major marketers category’, upgraded the 20 firms to join the major marketers’ category.

The companies include A.Y.M Shafa Limited, A.A. Rano Nigeria Limited and BOVAS and Company Limited. Others include NIPCO Plc, Rainoil Limited, Matrix Energy, Northwest Petroleum & Gas Limited and Swift Oil. Also on the list are Nepal Oil & Gas Services Ltd, Mainland Oil & Gas Limited and Emadeb Energy.

Others include Optima Energy Resources, Ashrami Synergy Plc, Shema Petroleum Limited, Salbas Oil & Gas Limited; as well as Zamson Global Resources, Pinnacle Oil & Gas Limited, Hong Nigeria Limited, and Danmarna Petroleum.

The letter was signed by the Chief Executive of Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed; though it was written with the official letterhead and logo of NNPC.

“Consequently, you are hereby directed to consider and place the above-listed companies under the major marketers’ category in all depots operations accordingly,” Ahmed wrote.

Related posts

Leave a Reply

Your email address will not be published.