Oil & Energy
Fuel Importation: IPMAN Lauds FG For Listing 42 Firms
The Rivers State chapter of Independent Petroleum Marketers Association of Nigeria (IPMAN), has lauded the Federal government for shortlisting 42 oil marketing companies for importation of Premium Motor Spirit (PMS) in the second quarter of this year.
Its chairman, Chief Samuel Owura Osareoejor told The Tide in Port Harcourt last Thursday that the Nigeria National Petroleum Corporation (NNPC) alone cannot import enough PMS (Petrol) for all Nigerians, hence the need to bring in other players.
According to Osaroejor, the move is commendable as it would make the product available to Nigerians thereby alleviating the untold hardship its scarcity is causing the masses.
It would be recalled that the Petroleum Products Pricing Regulatory Agency (PPPRA), a subsidiary of NNPC recently shortlisted 42 oil marketing firms to import 4,794,075,000 litres of petrol in the second quarter of this year.
The Executive Secretary of PPPRA, Reginald C. Stanley said the 42 companies include all the major oil marketers, Oando, Total, Mobil MRS, Conoil, Forte Oil (formerly African Petroleum) and prominent independent marketers like Aiteo, Capital Oil, Folawiya IPMAN, NIPCO, Sahara Energy, Integrated and Ascon Oil.
Stanley noted that the shortlisted companies were found efficient and that issuance of import allocation would be based on performance.
In line with the statutory mandate of the PPPRA, as provided in the PPPRA Act No.8 of 2003, which among others regulate the supply and distribution of petroleum products nationwide, the PPPRA has issued permits to 42 eligible marketers for the supply of 3,575,000 MT (4,794,075,000 litres) of premium motor spirit (PMS), the PPPRA scribe noted.
He added that marketers’ past performance and their ability to secure the needed finance would determine the volume to be supplied into the system.
Stanley warned marketers, to adhere strictly to the regulatory requirements for the importation of fuel and ensure that the product was discharged and distributed in the country accordingly.
His words: “The title of the permit resides with the beneficiary company and shall not be assigned to third party under any circumstances. All imports at the point of tendering notices of arrival and readiness (NOA & NOR) must be accompanied with letter of credit, performance invoice and form M among several requirements”.
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Oil & Energy
Delta Targets 120MW Power Boost, Moves To Cut Reliance On National Grid
The State Commissioner for Works (Rural Roads) and Public Information, Charles Aniagwu, disclosed this at a press conference in Asaba, weekend, noting that the initiative was part of wider reforms aimed at opening up the power sector to private investors.
Aniagwu, who was accompanied by the Executive Assistant to the Governor on New Media, Felix Ofou, said the state was exploring alternative sources of electricity to support businesses, households and communities while reducing pressure on the national grid.
He said the government was particularly interested in exploiting Delta’s abundant natural gas resources for power generation, pointing to the Kwale Free Trade Zone, which is part of the state’s special economic zone, as a major opportunity for investors.
According to him, prospective investors were taken to the zone during the state’s recent economic summit to enable them to assess the availability of gas as a key raw material for electricity generation. ComparePower Rates
The commissioner explained that generating more electricity locally would not only increase supply in Delta but also free up power on the national grid for use by other consumers.
Aniagwu cited the 8.5MW Independent Power Plant located behind the state secretariat in Asaba as an example of what could be achieved through alternative power sources.
He said the facility had enabled the secretariat complex to operate independently of the national grid, thereby making the electricity that would otherwise have been consumed there available to other users.
He added that the planned 120MW partnership with Supply Power would further strengthen the state’s electricity supply capacity and provide a more reliable power base for small and medium-sized enterprises.
Aniagwu said the state government was also intervening in areas traditionally regarded as the responsibility of electricity distribution companies because inadequate power supply could no longer be allowed to constrain economic development. LearnQuantum Physics
He identified the extension of the electricity grid from Abraka towards the Ndokwa axis as one of the interventions being undertaken to connect more communities to electricity.
The commissioner, however, raised concerns over the burden placed on communities that are often required to provide transformers and other electricity infrastructure, only for distribution companies to take over the facilities and subsequently collect electricity bills without adequately accounting for the investments made by the communities.
He said the state would continue to support efforts aimed at energising communities, noting that improved electricity supply would stimulate businesses, create jobs and help tackle social problems associated with unemployment and idleness.
On regulation, Aniagwu said the government was working with the Ministry of Energy and a committee set up to develop an appropriate regulatory framework for the state’s emerging power sector. SwitchEnergy Plans
He said the proposed energy commission would be responsible for regulating new electricity producers, determining appropriate tariffs and overseeing distribution networks.
The commissioner stressed that liberalising the sector required effective regulation to protect consumers and investors, adding that decisions on power distribution infrastructure, including the use of overhead or underground lines, must take into account the peculiarities and safety requirements of each location.
He warned that power expansion without adequate regulation could expose residents to electrocution and other hazards, stressing the need to protect electricity infrastructure while ensuring consumers were not subjected to unfair pricing.
Aniagwu said the state government’s broader objective was to build an efficient and sustainable electricity market driven by private investment and capable of powering businesses, households and communities across Delta State.
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