Oil marketers gets forex to import diesel, aviation fuel

The Nigerian National Petroleum Corporation, Subday, said the Central Bank of Nigeria, CBN, has released foreign exchange to oil marketers to import Automotive Gas Oil, AGO, and Aviation Turbine Kerosene, ATK.

The NNPC, in a statement by its Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, stated that this was part of measures aimed at ensuring robust supply of petroleum products across the country.

The NNPC noted that due to the shortcomings of the country’s refineries, it would continue to import AGO and ATK to supplement local refining. The NNPC added that it also has an inland supply stock of over 1.2 billion litres of Premium Motor Spirit, PMS, also known as petrol, sufficient for more than 34 days forward consumption.

According to Ughamadu, the NNPC’s product supply outlook for March to May, 2017, shows that steps have been taken to ensure adequate supply of diesel and aviation fuel.

In addition, he declared that the NNPC has re-commissioned its strategic 479.2 kilometres System 2B petroleum products pipeline network which stretches from the Atlas Cove-Mosimi-Ejigbo-Ibadan, terminating at Ilorin which will enhance effective distribution of petroleum products nationwide.

This, he said, is especially with the envisaged resumption of loading activities at the Mosimi, Ejigbo and Ibadan depots. He said, “The Calabar and Aba depots have been stocked with AGO while AGO load out at Kano depot would commence soon.”

Source: Vanguard
Added On: 2017-03-20