In a groundbreaking development, the Dangote Petroleum Refinery is on the verge of releasing its premium petrol product into the Nigerian market, signaling a potential shift in the local energy landscape.
This comes after an initial test run of the product, which was well-received by industry insiders and experts. The refinery, with its impressive 650,000-barrel capacity, is poised to make a significant impact on the country’s fuel distribution and availability.
Behind the scenes, the Dangote Group and the Federal Government are reportedly working in tandem to finalize the details for the sale and distribution of the new PMS product. It appears that the Nigerian National Petroleum Company Limited will be the sole authorized seller of the Dangote fuel, at least initially.
The path to this milestone was not without obstacles, as the refinery encountered crude oil shortages and faced accusations of producing substandard diesel.
However, the intervention of the Federal Government, which ensured that crude oil would be supplied to the refinery in the local currency, proved instrumental in overcoming these challenges.
The persistent allegations from Dangote and other local refineries, claiming that international oil companies were reluctant to sell crude oil to domestic refineries, have cast a shadow over the situation.
This, however, seems to have turned a corner, with the Federal Government’s recent announcement of the commencement of the crude oil supply deal in October, signaling a breakthrough in the deadlock.
REFERENCE AND CITATIONS:
- PUNCH News – Dangota Petrol ready for rollout.