The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has opened discussions with Azikel Refinery on a proposed offtake partnership that would enable its members to source locally refined petroleum products for retail outlets across Nigeria.
A PETROAN delegation, led by its National President, Dr Billy Gillis Harry, visited the refinery in Yenagoa, Bayelsa State, where it was received by the Chairman of Azikel Refinery, Dr Eruani Godbless, and members of the management team.
The delegation inspected the ongoing construction work at the facility, with Harry describing the project as a significant development for the country’s refining sector.
“Today, we have come to see Azikel Refinery in the South-South. All the chairmen in the South-South in the oil and gas industry are here to see what is going on in Azikel Refinery,” he said.
The discussions also covered the refinery’s development and operational plans, employment opportunities and ways of strengthening cooperation between the refinery and petroleum product retailers.
A key focus of the meeting was a proposed offtake arrangement under which PETROAN members would purchase petroleum products from Azikel Refinery based on mutually agreed commercial, technical and operational terms.
PETROAN said the proposed partnership formed part of its efforts to strengthen domestic refining and improve the availability of locally produced petroleum products.
The association said it was engaging indigenous refineries, government agencies and other stakeholders across the downstream sector to promote a more efficient, competitive and sustainable petroleum products market.
Harry said PETROAN was committed to working with local refiners to strengthen supply chains and improve access to domestically refined products.
“The growth of domestic refining capacity presents an important opportunity for Nigeria. As retailers, we want to build practical partnerships with indigenous refineries that can improve product availability, strengthen supply chains and create greater certainty for businesses and consumers,” he said.
Responding, Godbless described Azikel Refinery as the fourth-largest private refinery in Africa.
He assured the delegation that the refinery, when completed, would contribute to the development of Nigeria’s oil and gas value chain.
Both parties agreed to maintain discussions on the commercial and operational requirements for the proposed offtake partnership.
