Dangote Refineries aims to provide fuel to 150,000 IPMAN stations as part of their supply plans

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The Dangote Petroleum Refinery is set to provide fuel to approximately 150,000 retail outlets managed by the Independent Petroleum Marketers Association of Nigeria (IPMAN) following a successful meeting between the refinery’s management and IPMAN executives. Last Monday,

The PUNCH reported exclusively that IPMAN had a scheduled meeting with Dangote refinery regarding product supply.

IPMAN President Abubakar Maigandi confirmed the meeting’s occurrence on Friday, stating that the refinery agreed to supply products to their over 30,000 members.

Regulatory authorities are currently inspecting the refined products before granting approval for fuel dispensation.

Seven major oil marketers, including 11 Plc, Conoil Plc, Ardova Plc, MRS Oil Nigeria Plc, OVH Energy Marketing Limited, Total Nigeria Plc, and NNPC Retail, have registered with the refinery for product distribution.

Additionally, the Petroleum Products Retail Outlets Owners Association of Nigeria is engaging with the refinery for product supply.

As of January 12, 2024, Dangote Petroleum Refinery announced the commencement of Automotive Gas Oil (diesel) and JetA1 (aviation fuel) production.

IPMAN President Maigandi expressed optimism about product availability across their 150,000 stations nationwide once the refinery obtains approval to sell.

While the pricing details were not discussed, Maigandi mentioned that the prices would likely be slightly lower than the current market rates.

The Dangote refinery, located in Lagos, has received six million barrels of crude oil, with the first delivery on December 12, 2023, and the sixth on January 8, 2024.

The refinery, with a daily capacity of 650,000 barrels, conforms to international emission norms.

Aliko Dangote, the President of Dangote Group, stated that products would be in the market within the month once regulatory approvals are secured.

Regulatory officials are currently in the process of inspecting the facility.

Former President Muhammadu Buhari inaugurated the refinery in May 2023, and despite facing challenges, it began receiving crude oil batches in December 2023.

However, there is no confirmation of regulatory approvals for product release as of now. Refinery officials did not respond to inquiries on the meeting with IPMAN executives.

 

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