shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » DEREGULATION: Scarcity Looms As Importers Dump Importation

DEREGULATION: Scarcity Looms As Importers Dump Importation

by Ade
August 16, 2009
in Uncategorized

As the nation awaits  the full implementation of government’s deregulation policy in the oil sector, anxious importers have adopted a wait and see attitude, leading to scarcity and soaring prices of at least two essential products.
The few companies that have been known over the years has importers of diesel and kerosene have stopped importation , a development that ha pushed the pump price of the two products to an all time high of  N120 and N100 per litre for diesel and kerosene respectively. 
Industry sources confirmed to Shipping Position Weekly that out of the 22 petroleum depots scattered around Lagos, only two; NIPCO and Ibeto are currently loading kerosene while Rahamanniya oil is the only one distributing diesel. In addition, only six out of the 32 that have been engaged in products importation are still actively involved.
Activities were at very low ebb last week when our correspondent visited some of the depots in Apapa.
While some attributed  the development to the deregulation policy, others attributed it to the financial crises that some of them are currently facing some of the tank farm owners. Another source explained that the lull is because most operators are sceptical of the effect of the new policy which is aimed at removing a ceiling on the pump price of products.
The implication of this, according to experts is that unless products to come in soonest, there may be scarcity soon.
One of the marketers who spoke to Shipping Position Weekly at Ibeto confirmed that “the scarcity of these products is making everybody to scramble to load and nearly kill themselves here with trucks, some people will buy the kerosene and mix it with diesel why some will buy and sell as kerosene, for almost two weeks now it is only at Ibeto that we are loading kerosene apart from NIPCO”
According to the marketer who craved anonymity, “If eight per cent of the depots can at least receive products, supply would have matched the demand to some extent”. He also confirmed that it is only the petrol that is not yet affected as it is still sold for N65 per litre.
In the face of the scarcity and uncertainty, sources hinted that leading importer of diesel, Zenon Petroleum is set to let out its facility known as Zenon II to African Petroleum (AP) for use for petrol, while it will use the other facility; Zenon I to receive and store diesel.
Zenon petroleum specializes only in imports of diesel and kerosene but the impending scarcity has caused the management to lean on Ibeto by depositing its kerosene in their tank farm and also giving AP its other facility.

Related Posts

VESSELS EXPECTED AT LAGOS PORT AS AT TUESDAY 10, MAY 2022

VESSELS EXPECTED AT LAGOS PORT AS AT TUESDAY 10, MAY 2022

May 10, 2022
VESSELS EXPECTED AT LAGOS PORT AS AT FRIDAY 29, APRIL 2022

VESSELS EXPECTED AT LAGOS PORT AS AT FRIDAY 29, APRIL 2022

April 29, 2022

‘Why I Pay More Attention To Rail Than Maritime Sector’- Rotimi Amaechi

September 27, 2021
ANLCA President Calls For Emergency On Reconstruction Of Roads Leading Into Apapa

ANLCA President Calls For Emergency On Reconstruction Of Roads Leading Into Apapa

May 15, 2021

Discussion about this post

Latest News

Amidst Allegation of Fake Certificates in Circulation, NIMASA CoC Verification Portal Breaks down

Amidst Allegation of Fake Certificates in Circulation, NIMASA CoC Verification Portal Breaks down

May 16, 2022

Over 3000 Ex-Cadets Of MAN Oron With National Diploma Certificates Stranded, Unable To Further Their Studies

Despite LASG Suspension, Truckers Say Committee On Removal Of Abandoned Vehicles Still Operating Illegally

ANLCA Sues For Peace, Calls For Retreat To Reunite Association, Resolve Challenges

NPA To Concession Barge Operations, To Clampdown On Illegal Barge Owners

Automation Backbone Of Port Efficiency – NPA MD

High Cost Of AGO, Freight Rate Responsible For Fuel Scarcity In Abuja — Distributors

We’ve Paid Over N58b Bridging Claims To Oil Marketers – NMDPRA

Nigeria’s April Oil Output Drops 13.3 Percent to 1.3 Mbpd

FG Working To Improve West African Gas Pipeline Project Performance – Sylva

“Global West Vessel Specialist is not owned by Tompolo”

The Monster Of Extortion And Failure Of Traffic Control System In Apapa

kindly like our Facebook page

Health

What You Need To Know About Monkeypox
Health

What You Need To Know About Monkeypox

May 16, 2022

According to the latest Monkeypox situation report of the Nigeria Centre for Disease Control, Nigeria recorded 15 confirmed cases of...

Sleep Duration Of 7 Hours Optimal For Elderly – Study

Sleep Duration Of 7 Hours Optimal For Elderly – Study

May 16, 2022
COVID-19 On Increase In Americas, Africa – WHO

COVID-19 On Increase In Americas, Africa – WHO

May 9, 2022
‘65 Per Cent Of Africa’s Population Survived COVID-19’

‘65 Per Cent Of Africa’s Population Survived COVID-19’

May 9, 2022
Seven Hours Of Sleep Ideal For Middle-Aged Persons – Study

Seven Hours Of Sleep Ideal For Middle-Aged Persons – Study

May 9, 2022
Some Things That Are Actually Damaging The Kidneys (2)

Some Things That Are Actually Damaging The Kidneys (2)

May 9, 2022

The World Of Vaccines, Before And After COVID

April 29, 2022
Only 29% Of Hospitalised COVID-19 Patients Make Full Recovery One Year On – Study

Only 29% Of Hospitalised COVID-19 Patients Make Full Recovery One Year On – Study

April 29, 2022
WHO Alerts Countries To Increase In Hepatitis Cases Of Unknown Origin

WHO Alerts Countries To Increase In Hepatitis Cases Of Unknown Origin

April 29, 2022
Some Things That Are Actually Damaging The Kidneys

Some Things That Are Actually Damaging The Kidneys

April 29, 2022
Nigeria Records Continuous Decrease In COVID-19 Cases, Deaths – NCDC

Nigeria Records Continuous Decrease In COVID-19 Cases, Deaths – NCDC

April 25, 2022

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition

No, thank you. I do not want.
100% secure your website.
Powered by EssentialPlugin