NNPC To Import 100 Million Litres Of Fuel Everyday Throughout February
Nigeria’s oil company, the Nigeria National Petroleum Corporation, NNPC is still battling to end an embarrassing fuel scarcity that has firmly gripped Nigeria for the past two months.
All efforts to end the fuel queues, including a crackdown on erring filling stations had yielded no results.
Now, it has said its new strategy is to import two cargoes of fuel per day for the rest of February in order to eradicate fuel queues.
“Each cargo will include 50 million litres, roughly 35,000 tonnes, to increase supply and replenish strategic reserves,” NNPC said in a statement.
The company added that it had 324 million litres of petrol on land and 432 million litres in marine storage, which it said was enough for 22 days of supply, while acknowledging that fuel queues had “resurfaced in some cities”.
According to the statement, “there is currently a rare Suezmax en route to West Africa from the Baltics with 115,000 tonnes of gasoline - more than three times the typical vessel size.
“The cargo was booked by Vitol, one of the companies that holds a crude-for-product swap with NNPC. It is expected to park offshore and discharge its cargo into Nigeria via smaller ships.”
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