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Friday, 4 July 2014

Nigeria reduces number of gasoline licensees for Q3

 A fuel cargo on sea
Nigeria has reduced the number of companies licensed to import gasoline in the third quarter to 27 from 40 in the previous three months, lists corroborated by regional industry sources showed on Friday.
The 27 companies were allocated gasoline import rights by Nigeria's downstream regulator Petroleum Products Pricing Regulatory Authority (PPPRA), the lists showed.
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 said.
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


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