ABUJA – As part of measures to sustain the robust supply of petroleum products across the country, especially as Yuletide period approaches, the Nigerian National Petroleum Corporation (NNPC) has signed a six-month Direct Sale-Direct Purchase (DSDP) agreement with the British Petroleum (BP)’s trading arm, BP Oil International Ltd, for the supply of Premium Motor Spirit, also known as petrol.
This latest agreement will represent 20 percent of NNPC’s total PMS supply under the DSDP arrangement, which basically allows the corporation to exchange crude oil with international oil traders for imported petroleum products over a period of time.
Speaking shortly after a brief agreement signing ceremony at the NNPC Towers in Abuja on Thursday, Maikanti Baru, the Group Managing Director of NNPC, said as the nation’s products supplier of last resort, NNPC was committed to products’ availability by inviting new and old players to play in the Nigerian oil sector.
He said over the years, BP had demonstrated the capacity and robustness to augment the forecasted shortfall by NNPC, especially as the winter period approaches and as the nation’s elections get underway early into the New Year.
“As a reliable supplier, we think BP is a brand that we can always partner with. We trust the company and we have a good relationship with it. We also believe in the company’s commitment towards the development of local content,” Baru stated.
The NNPC helmsman also commended BP for choosing to partner with AYM Shafa, a local oil company, which he said had been expanding its downstream footprints across the nook and cranny of the country.
“BP’s partnership with AYM Shafa towards delivering on its DSDP obligations makes it a perfect fit for our plans to ensure that there is adequate supply of products throughout the coming Yuletide and even beyond the election period. In AYM Shafa, you are talking of a local company with over 150 retail outlets, depots as well as a good network of trucks nationwide,” Baru added.
Responding, Mr. John Goodridge, the Head of Marketing & Origination of BP’s oil trading business, said it was a great honour for his company to be trusted by the NNPC as one of its strategic suppliers.
“We are delighted to have the opportunity to work more closely with the NNPC. Going forward, we hope to grow this mutual relationship to greater things,” Goodridge added.
The post NNPC, BP Sign PMS Supply Agreement appeared first on Independent Newspapers Nigeria.
Source: Daily Independent
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NNPC, BP Sign PMS Supply Agreement
Description : ABUJA – As part of measures to sustain the robust supply of petroleum products across the country, especially as Yuletide period approache...
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