FG reduces licensees for petrol importation to 27 in Q3

By The Rainbow
FG reduces licensees for petrol importation to 27 in Q3
FG reduces licensees for petrol importation to 27 in Q3
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The Federal Government has reduced the number of
companies licensed to import petrol in the third quarter to 27

from 40 in the previous three months.
 
According to Reuters, lists corroborated by regional industry sources showed on Friday the 27 companies were allocated gasoline import rights by downstream regulator Petroleum Products Pricing Regulatory Authority (PPPRA).

 
These companies are expected to import around 1.7 million

tonnes for third quarter, down from 1.85 million tonnes in the

second quarter.
Though market sources expect some winners will be unable to

import owing to financing obstacles – some are still waiting for

a backlog of subsidy payments owed by the government following

the 2012 subsidy fraud investigation, which unearthed billions

of dollars worth of fake claims.
Nigeria imports gasoline through two state-owned authorities

- PPPRA and the Pipelines and Product Marketing Company, PPMC.

The PPPRA allocations vary quarter-on-quarter while the PPMC

typically brings in about 1.4 million tonnes per quarter through

crude-for-product swap agreements with traders, market sources

Total Nigerian gasoline imports are expected to be close to

3.1 million tonnes.
The country is chronically short of oil products,
particularly gasoline, due to a long period of under-investment

in its domestic refineries.
MRS Oil Nigeria was absent from the list, after
being included in the second quarter, but some return winners

were Oando, Total, Conoil,
Folawiyo Oil and Gas, Forte Oil, Techno Oil, NIPCO and

Masters Energy.
Mobil Nigeria PLC, ExxonMobil's local arm, was
listed among the winners with larger volumes as well as Aiteo.

Allocation sizes vary from 30,000 tonnes up to 120,000 tonnes.

Following is a list of companies licensed to import gasoline

for July to September by PPPRA.
1   A-Z
2   Aiteo
3   Avidor
4   BSR
5   Bovas
6   Conoil
7   Cybernetics
8   Folawiyo
9   Forte
10   Gulf Treasures
11   Hyde
12   Integrated
13   Matrix
14   Mettle
15   NIPCO
16   Oando
17   Rainoil
18   Sahara
19   Shorelink
20   Total
21   TSL
22   Mobil
23   Ascon
24   Hudson
25   Dee Jones
26   Techno
27   Masters