THE Dangote Petroleum Refinery and the Petroleum Products Retail Outlets Owners Association, PETROAN, have continued talks, targeted at concluding details for lifting petroleum products.
The National President of PETROAN, Dr. Billy Gillis-Harry, Monday, led the association to negotiate and sign a deal with the Dangote Refinery in Lagos.
This illustrates an increased interest in the products of the $20 billion refinery as members of the Major Energy Marketers Association of Nigeria, MEMAN, and Independent Petroleum Marketers Association of Nigeria, IPMAN, have also expressed commitment to patronize the 650,000 barrels per day, bpd, facility.
However, in a telephone interview with Sunday Vanguard, yesterday, Gillis-Harry said lifting would not start immediately as discussions were ongoing to conclude pricing, volume and logistics.
He said: “We are working out details. Pricing, volume, frequency and logistics are still being discussed.”
Similarly, the Chairman of the Lagos State Chapter of the association, Ehimen Joseph, said: “Lifting of petroleum products comes with some challenges, including financing, operations, logistics are key success factors for the seamless delivery/lifting of petroleum products in the refinery.
“It would likely cost about N42 million per truck of 33,000 litres to lift petrol. The details should be worked out because if we take a loan to fund our operations, the interest will start to count immediately.”
Earlier, the association disclosed in a statement: ”The National Headquarters of PETROAN Abuja, has expressed confidence that the measures put in place by the Association following the commencement of production at the Port Harcourt refinery and fruitful deliberations with the management of Dangote Refinery will avert fuel supply shortages during and after the festive season.
“This was due to the efforts of the PETROAN distribution technical committee in charge of planning and execution of the zero-fuel scarcity strategy. We are happy that Nigerians are going to travel effortlessly during this period of the year.
“The National President of PETROAN, Dr Billy Gillis Hary, on Monday 2nd December 2024 led the Negotiation team of PETROAN to a fruitful strategic business meeting with the management of Dangote Refinery at the complex in Lagos.
“The Sealing of a transactional deal with Dangote Refinery was the aftermath of successful buyer-seller negotiation and agreement secured by PETROAN at the strategic meeting.
Vanguard
