Dangote Refinery set to rollout petrol for sale

The Dangote Petroleum Refinery is set to roll out petrol for sale.

The move will cushion the biting effects of the current fuel scarcity and outrageous prices of the product in the country.

The unveiling of the product is coming a few days after the 650,000-capacity refinery had done a test-run of the product.

Industry sources confirmed to Punch that the product would hit the market soon.

The sources, who preferred anonymity, said that the government and the Dangote Group were working out modalities for the circulation of the product.

A government source, however, disclosed that the sale and distribution of the PMS was being sorted out by the Federal Government.

The source added that only the Nigerian National Petroleum Company Limited (NNPCL) would be authorised to sell the Dangote fuel when the sales take effect.

Recall that Dangote Refinery petrol was supposed to be rolled out since June, but the Refinery was faced with shortage of crude oil. It also had a disagreement with the Nigerian Midstream and Downstream Regulatory Authority, which accused the Refinery of producing substandard diesel.

With the Refinery’s poise to roll out its petrol for sale by the NNPCL, the Federal Government’s intervention that crude oil should be supplied to the Refinery in local currency appears to be yielding the expected result.

Recall that Dangote and other local refineries have variously accused international oil companies of not selling crude to the local refiners.

Recently, the Federal Government announced that the crude oil supply deal would commence in October.

The management of Dangote Group also alleged that the IOCs insisted on selling crude oil to its refinery through their foreign agents.

It also said that the local price of crude would continue to increase because the trading arms offered cargoes at $2 to $4 per barrel, above NUPRC official price.

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