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Crisis In Oil Sector: Marketers In ‘Marathon’ Meetings Over Dangote Refinery’s Disruption Of Downstream Sector
Several oil marketers are currently holding meetings in response to the proposed plan by Dangote Petroleum Refinery to start distributing diesel and premium motor spirit (PMS), also known as petrol, nationwide.
On June 15, Dangote refinery announced it would begin fuel distribution, including compressed natural gas (CNG), starting August 15.
When contacted on Monday, multiple oil marketers’ associations confirmed that discussions were ongoing to determine the appropriate response to the development.
A source at the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) told TheCable that following the Dangote refinery’s announcement, the association’s members are “in Marathon meetings right now”.
Billy Gillis-Harry, president of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), also told TheCable that his association had been meeting since the announcement was made.
“We will be having another press conference later today,” he said.
“It’s now that my other sister associations are waking up to realise that this is a big danger that is going to be part of the entire industry.”
Earlier today, PETROAN stated that the Dangote refinery’s forward integration model could amount to a monopoly in disguise.
Commenting further on the refinery’s potential impact, Gillis-Harry said “it’ll wipe out businesses” in the downstream sector.
A source within the Independent Petroleum Marketers Association of Nigeria (IPMAN) also confirmed the association was holding a meeting in light of the Dangote refinery’s announcement.
©TheCable
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