2 weeks ago
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- Dangote Petroleum Refinery says deregulation is not a licence for importing off-spec petroleum products
- He said this in response to statement by Pinnacle Oil and Gas noting that it would never distribute any substandard product
- The refinery expressed hope that the four state-owned refineries would soon be put into service, as the NNPC had pledged
Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.
Dangote Petroleum Refinery has stated that deregulation does not grant permission to import petroleum products that do not meet specifications.
Source: Getty Images
This followed an earlier allegation by the refinery that an international trading company is planning to blend substandard products close to its plant.
The CEO of Pinnacle Oil and Gas, Robert Dickerman, responded by refuting the accusation and stating that the company would never import or try to distribute any subpar or off-spec goods into the Nigerian market.
Dickerman went on to say that allowing several buyers and various sellers improved the system's performance in a deregulated setting.
He claimed that having options for supplying Nigerians with locally refined goods or imported gasoline was the proper thing to do, The Cable reported
How Dangote reacts
The refinery stated in a statement on Tuesday that Dickerman's view of deregulation ignores the grave consequences of his actions, which it claims endanger not just the integrity of Nigeria's energy industry but also the wellbeing of its people.
The endorsement, according to Dangote Refinery, is based on a dedication to sustainable economic growth and safeguarding Nigerians from exploitation, even as it reiterates its support for deregulation and industrialization.
“The Dangote Petroleum Refinery and Petrochemicals Company has long been an advocate for deregulation and industrialisation in Nigeria, but our support is rooted in a commitment to the sustainable growth of the country’s economy and the protection of its people from any exploitation,” the company said.“Unlike Dickerman’s view, deregulation should not be a licence for the importation and distribution of off-spec products or the subversion of national interests.”Dangote remains vigilant
The refinery noted that Dickerman, as an American, should recognise the protective measures in place for United States industries.
Dangote refinery said it had rejected a request from Pinnacle to extend a pipeline from its refinery to Pinnacle’s tank farms, which would allow the blending of its high-quality products with Pinnacle’s imported products for sale in Nigeria.
“It is therefore perplexing that Dickerman, with all his experience in the U.S. market, would advocate for the importation and blending of petroleum products to Nigeria under the claim of deregulation and a free market,” Dangote refinery said.“The fact is that he had deceitfully approached us and pleaded that we extend the pipeline from our refinery to Pinnacle’s tank farms for the purpose of blending our high-quality products with their imported products and selling them to Nigerians.“We categorically rejected his request to extend our pipeline to their tank farms for such devious purposes because it would be a betrayal of the Nigerian people’s trust. The health and safety of Nigerians cannot—and should not—be compromised for profit.”The refinery said it remains vigilant against coordinated efforts to undermine its operations.
Dangote anticipates resumption of other refineries
The refinery expressed optimism for the upcoming commissioning of the four state-owned refineries, as promised by the Nigerian National Petroleum Company (NNPC) Limited.
“We eagerly anticipate the coming on stream of the Kaduna, Warri, and Port Harcourt refineries before the end of this year, as promised by the Group Chief Executive Officer (GCEO) of NNPCL, Mele Kyari.”The refinery claims that the accomplishment will establish Nigeria as a petroleum product refining hub in Africa and put an end to "baseless" monopoly rumors.
Dangote Refinery raises alarm of International Firm Planning
Legit.ng reported that Dangote Petroleum Refinery has raised concerns that a foreign trading company has rented a depot in Nigeria to blend and distribute substandard petroleum products.
He alleged that the international firm aims to compete with Dangote’s domestically refined petrol.
Dangote Refinery stated in a statement signed by Anthony Chiejina, the Dangote Group's Chief of Branding and Communications.
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Source: Legit.ng
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