“We’re Proud:” Dangote Refinery Chooses New Distributor as Other Marketers Line Up to Enroll

Jan 18, 2024 | Uncategorized


  • One of Nigeria’s oil marketers, Eterna Plc, has been announced as an authorized distributor of Dangote Petroleum Refinery
  • The company said the development reaffirms its commitment to boosting local product supplies
  • This comes as other marketers are reportedly lining up to lift products from the refinery

Pascal Oparada has over a decade of experience covering Tech, Energy, Stocks, Investments, and Economy.

One of Nigeria’s energy provers, Eterna Plc, has announced that it is now an authorized distributor of the new Dangote Petroleum Refinery’s products in the domestic market.

The company disclosed this in a statement issued on Wednesday, January 17, 2024.

Dangote Refinery, Eterna Plc
President of Dangote Industries Limited, Aliko Dangote
Credit: Bloomberg/Contributor
Source: Getty Images

Eterna discloses plans for robust trucking

BusinessDay reports that the company has reaffirmed its commitment to boosting product supply by investing in trucking through acquisition and partnering with third-party transportation.

Read also

After Dangote refinery commences production, investors rake in huge profit, cement firm shares surge

Per the statement signed by the company’s secretary, Mandela Golkus, Eterna’s appointment as a distributor of Dangote’s domestic products in Nigeria reinforces its commitment to improving product supply with the assurance of significant investment in trucking via truck acquisition and strategic partnership with third-party transport.

Eterna said:

“We are proud to be appointed as an official distributor of Dangote refinery domestic sale in Nigeria.

“This partnership with Dangote refinery demonstrates our commitment to providing Nigerians with world-class energy solutions that meet their needs and expectations,” said Benjamin Nwaezeigwe, managing director of Eterna Plc.

Other marketers line up lift products from the Dangote refinery

The development comes as about seven prominent oil marketers in Nigeria have registered with the Dangote Petroleum Refinery to lift and distribute refined petroleum products from the plant.

Read also

“Full List”: NNPPC to lose monopoly as 7 major marketers get approval to sell Dangote fuel

Dealers under the auspices of the Major Oil Marketers Association of Nigeria (MOMAN) confirmed on Sunday, January 14, 2024, that with the registration, they would begin the distribution of fuel produced at the plant once the commercial terms are finalized.

The development comes as the refinery reportedly sought the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) approval to hit the market with diesel and aviation fuel anytime this month.

Dangote refinery to reach full production capacity in June

The refinery had stated that it would reach total production capacity by June and commence the production of Premium Motor Spirit (PMS), also known as petrol.

Also, the Independent Petroleum Marketers Association of Nigeria (IPMAN) disclosed that they would meet the refinery management this week to discuss the terms for product lifting.

The list of marketers chosen to lift fuel

Punch reports that the Product Retail Outlets Owners Association of Nigeria (PETROAN) said the association has engaged the refinery management to supply products from the facility.

Read also

“Tinubu encouraged me to start refinery”: Dangote shares details

The report said that significant marketers who are members of MOMAN have already registered with the refinery and are set to start buying products from the plant.

The seven significant marketers include 11 Plc, Conoil Plc, Ardoval Plc, MRS Oil, OVH Energy Marketing Limited, Total Nigeria, and NNPC Retail.

Dangote Refinery announces readiness to begin production

Legit.ng reported that the Dangote Petroleum Refinery said on Monday, January 8, 2024, that it is ready to commence production of refined petroleum products after receiving the sixth consignment of one million barrels of crude needed for the facility’s initial operations.

A statement from the refinery confirmed the receipt of the last batch of six million barrels, saying that the plant will commence a test run soon.

The statement said the fresh one million Agbami barrels of crude through the MT ALMI SUN was the last cargo to complete the initial six million barrels to be delivered to the facility for the commencement of operations by the refinery.

Source: Legit.ng



Source link

Recent Post

Recent Event Post

Post you may also like

Pin It on Pinterest

Share This
Open chat
1
Scan the code
EventsChronicles
Hello 👋
How can we help you?