The Petroleum Products Retail Outlets Owners Association (PETROAN) has struck a deal with Dangote Petroleum Refinery for direct product off-take.
The deal, concluded on December 2, 2024, comes just weeks after the Independent Petroleum Marketers Association of Nigeria (IPMAN) secured similar terms, heralding a robust fuel supply for the holiday period.
PETROAN’s National Public Relations Officer, Dr. Joseph Obele, confirmed the arrangement, highlighting its significance for product availability.
According to Obele, “The agreement secures monthly volumes for PETROAN, favorable payment terms, and competitive pricing, ensuring a seamless supply of petroleum products.”
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PETROAN’s National President, Dr. Billy Gillis-Harry, led the negotiations, which concluded with an official seller-buyer relationship.
The association emphasized that although the deal’s finer points would remain confidential, the primary beneficiaries would be Nigerian consumers, who stand to benefit from the enhanced availability and affordability of petroleum products.
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In addition to the PETROAN deal, the Port Harcourt Refinery, recently re-commissioned after years of dormancy, made headlines by exporting its first shipment of refined petroleum products.
The Port Harcourt facility, now producing at 70% capacity, sent its inaugural cargo of low-sulphur fuel oil to Dubai-based Gulf Transport and Trading Limited. This development follows the refinery’s November 26, 2024, restart after prolonged delays.
However, industry observers have raised concerns over the refinery’s operational capacity, questioning the scale of exports given its current output.
