A Review of the Nigerian Energy Industry

PPPRA grants 32 coy fuel imports permit for Q1 2013

03 February 2013, Sweetcrude, Lagos – The Petroleum Products Pricing and Regulatory Agency, PPPRA, has announced the grant of fuel import permits to 32 companies for the first quarter of 2013. In the 4th quarter of 2012, 38 companies were granted fuel import permits.

The 32 companies include:
*The Nigeria National Petroleum Corporation, NNPC
*Alteo
*Ascon oil
*Avidor Oil & Gas
*A-Z Petroleum
*Bovas
*Conoil Plc
* Dee Jones Petroleum and Gas
*Dozzy Oil and Gas
* Folawiyo Energy
*Fresh Synergy Limited
*Forte Oil Plc
*First Deepwater Discovery Ltd
*Gulf Treasure Ltd
*Heyden Petroleum
*Ibafon Oil Ltd
*Integrated Oil and Gas Industries
*IPMAN Refining and Marketing Ltd
*Mobil Oil Plc
*MRS Oil and Gas Ltd
*MRS Oil Nigeria Plc
*NIPCO Plc
*Northwest Petroleum & Gas Ltd
*Oando Plc
Obat Petroleum Ltd
*RainOil Ltd
*Rahamaniyya Oil & Gas
*Sahara Energy Ltd
*Shorelink Oil
*Swift Oil Ltd
*Techno Oil Ltd
*Total Nigeria Plc

While speaking on the award, Mr Reginald Stanley, Executive Secretary of the PPPRA disclosed that the companies were given permits on the basis of competence, track record, effectiveness and expertise in obtaining financing.

Following the petroleum imports permit scam uncovered in 2011, and the ensuing effort to recover monies obtained by fraudulent companies which made claims on, and obtained payments from the Petroleum Subsidy Fund, PSF, without importing any fuel, there has been an effort to prune the number of companies participating in the scheme.

Management of the PPPRA plans to prune the number of fuel importers to 20, as part of efforts to ensure efficiency, viability and service.

Some of the companies denied import permits this quarter include, SPOG Petrochemical, Capital Oil and Gas Industries, Masters Energy and Matrix Energy.

These companies recently had their operations shut down owing to outstanding indebtedness to the Asset Management Company of Nigeria, AMCON.

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  • Petroleum products imports under whatever guise, superintended by any government agency in Nigeria is an excuse to steal money. There is no reason whay Nigeria should be a net importer of petroleum products.

  • Petroleum products imports under whatever guise, superintended by any government agency in Nigeria is an excuse to steal money. There is no reason whay Nigeria should be a net importer of petroleum products.

  • Petroleum products imports under whatever guise, superintended by any government agency in Nigeria is an excuse to steal money. There is no reason whay Nigeria should be a net importer of petroleum products.