IPMAN ABA Calls For Govt. Intervention Over Moribund Refineries

Petroleum, GasThe Independent Petroleum Marketers Association of Nigeria (IPMAN), Aba unit, Abia state, has called on government to repair the moribond refineries in the state.

Lamenting over the situation, the Public Relations Officer of the association, Chukwumaeze Njoku, hinted that the epileptic supply of petroleum products from the refinery at Port Harcourt, has subjected them to continue to source for the product elsewhere at a very high cost.

Mr Njoku appealed to relevant authorities to ensure that the refineries are up and running while also suggesting adequate maintenance and strict surveillance of oil pipelines within the state.

“I want to say that fuel availability in Abia state has been epileptic because the depot in Aba where most marketers are expected to pick their product, has been moribund.

“I would like to say that, before then, the marketers have had to endure the epileptic supply from the refinery in Port Harcourt.

“I want you to know that, we stopped lifting products from Osisoma depot on May 2016 and till date, we have not had any supply.

“I believe I am speaking for the marketers who want the refineries to be fixed and adequate care taken to assist the communities where the pipelines passes.

“I want to appeal to the relevant authorities to maintain the pipelines with good surveillance.

“I must admit that the task of ensuring fuel availability in the state rests squarely on our shoulders and what we do is to go as far as Lagos, Calabar to procure these petroleum products at our own expenses and risk.

“I want to say that the government should do something fast to reverse the trend, “Njoku stressed.

NNPC Opens Bid For Crude Oil Sale And Purchase

Maikanti-BaruThe Group Managing Director of Nigeria National Petroleum Corporation, Dr Maikanti Baru, says only refiners, big traders and companies with substantial investment in the oil and gas sector, will scale through the bid for the 2016 to 2017 term contracts for Nigeria crude oil sale.

A total of 224 companies are bidding for the 12 month term contracts tender, for a number of slots the Group Managing Director says will be decided on actual production focus by February 2017.

Representatives from the 224 companies converged on the amphitheater of the NNPC for the opening of the bid.

Dr Baru, who opened the bid after a test of transparency, said that the volume of crude put out for the contract bid is nearly 700,000 barrels of crude per day.

He added that the actual number of companies to emerge from the bidding would be decided in the first quarter of 2017.

The NNPC GMD also stated that Nigeria’s crude is not struggling for market, contrary to speculation but continues to earn premium, with major markets in Europe and Asia, with the United States recently added to the list.

No Plan To Increase Fuel Price, Says NNPC

DPR, Niger State, PetrolThe Nigerian National Petroleum Corporation (NNPC) on Monday said there were no immediate plans to increase fuel prices.

The Group Managing Director, NNPC, Mr Maikanti Baru, asked reporters if they “have seen any memo to that effect” insisting that there is “nothing like that in the offing.”

Reports say fuel marketers are pressing the government to remove the current gasoline price cap of 145 naira ($0.4394) per litre, as they say they are struggling to buy the fuel, which priced in dollars, and sell it in Nigeria in naira at a profit.

A press release over the weekend from former NNPC leaders called the current price cap “not congruent” given the foreign exchange rate and low crude oil prices.

“We don’t want any cap because of the fluctuations of the dollar rate in the country,” Chinedu Ukadike, Chief of Staff to the National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), told Reuters.

Removal of the cap would also allow the forces of supply and demand to determine the price of petroleum products, he said.

The naira plunged in value, hitting an all-time low of 420 to the dollar on the unofficial market late last month.

The Minister of State for Petroleum, Mr Ibe Kachikwu told Reuters that talks with militant groups were still ongoing, and that the country’s crude production stood at 1.6 million bpd despite force majeure declarations in place on four crude oil streams.


IPMAN Pledges To Support FG’s Deregulation Policy

Petroleum, GasThe Independent Petroleum Marketers Association of Nigeria (IPMAN) have pledged to support the federal government’s deregulation policy in the petroleum downstream sector.

Speaking in Abuja, the National President of the Association, Mr Lawson Obasi, said that the association has been re-positioned to increase fuel supply across the country.

Mr Obasi also said that the association would work with relevant players in the sector to tackle fuel scarcity in the country.

The National Executive Committee of the association was inaugurated after its leadership crisis was resolved and two emerging factions were reconciled.

IPMAN To Partner NNPC In Ending Fuel Scarcity

petrolThe Independent Petroleum Marketers Association of Nigeria (IPMAN) has promised to work with the Nigerian National Petroleum Corporation (NNPC) and other agencies of government to help address the prevailing fuel scarcity being experienced by Nigerians.

Speaking in Abuja, the National Secretary of IPMAN, Danladi Pasali said the intervention of the Minister of State for Petroleum Resources, Dr Ibe Kachikwu, in the lingering crisis in the association will go a long way in helping to ease the distribution challenges confronting the country.

The association said its members will be directed to operate a 24-hour service and also ensure that petrol products are sold at the government approved price.

DPR Vows To Seal Up Stations Selling Above Approved Price

The Kaduna Zonal Operations Controller, Department of Petroleum Resources (DPR), Mr Mustapha Jahun, has vowed that the agency will henceforth seal any illegal Petrol Station constructed without government approval and also close down any station where DPK and other petroleum  products are sold above the regulatory pump price.

Speaking  at the opening ceremony of the 2013  Combined Annual General Meeting of the Department of Petroleum Resources (DPR) and Independent Petroleum Products  Marketers for  Kaduna Zone on Tuesday,  Jahun  decried that the activities of such marketers amounts to short-changing the Federal Government and Nigerians.

The zonal controller explained that the meeting was to further broaden the knowledge of marketers of the statutory issues hitherto unknown, unclear or taken for granted, and also review past activities and plan ahead towards meeting government and stakeholders expectations.

He also stressed that erecting petrol stations near residential areas was illegal as well as the diversion of petroleum products which in many cases results in fire outbreaks.

He assured marketers that tireless efforts were being made to satisfy public demand of petroleum products which tasked them.

In a swift response, Kaduna zonal Chairman of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Muhammad Ndakogi absolved members of the association of any blame regarding the sale of petroleum products above approved pump  price or operating illegal stations in the zone.

Some stakeholders also urged the agency to expose those caught  violating its rules and regulations.