Sunday, October 20, 2013

NNPC denies stopping fuel importation

The management of NNPC says it has not stopped importation of
petroleum products as reported by a section of the local and
international media.
This was contained in a statement issued in Abuja on Sunday by NNPC's
acting Group General Manager (Public Affairs), Ms Tumini Green.
The statement said petrol supply in the system was in line with the
approved quota for the national demand to ensure "seamless supply
especially in the last quarter of the year."
"The NNPC as supplier of last resort has responsibility for
maintaining a robust strategic reserve with additional reasonable
buffer in line with the nation's energy supply policy,'' it said.
The statement said that the corporation's petrol stock holding was in
tandem with the approved PPPRA allocation to NNPC and assured that the
stock level covered marine, inland and strategic stock.
It added that as at Thursday, the marine stock offshore stood at 19
cargoes translating to 25- day sufficiency as part of the national
strategic reserve.
The statement said the aggregate strategic reserve had been
misrepresented in some media as marine stock lying offshore.
Strategic reserve is an alternative product reserved to cushion the
effect of unexpected scarcity of the petroleum products in the
The statement said that the NNPC had taken proactive measures to
ensure stable supply of petroleum products across the country,
especially as the end of year festive period approaches.
The News Agency of Nigeria (NAN) recalls that a section of the media
had reported that NNPC had stopped petrol importation due to glut and
challenges at the various ports.(NAN)

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