July 4, 2014 / 1:30 PM / 3 years ago

Nigeria reduces number of gasoline licensees for Q3

By Julia Payne
    LONDON, July 4 (Reuters) - Nigeria has reduced the number of
companies licensed to import gasoline in the third quarter to 27
from 40 in the previous three months, lists corroborated by
regional industry sources showed on Friday. 
    The 27 companies were allocated gasoline import rights by
Nigeria's downstream regulator Petroleum Products Pricing
Regulatory Authority (PPPRA), the lists showed. 
    These companies are expected to import around 1.7 million
tonnes for third quarter, down from 1.85 million tonnes in the
second quarter. 
    Though market sources expect some winners will be unable to
import owing to financing obstacles - some are still waiting for
a backlog of subsidy payments owed by the government following
the 2012 subsidy fraud investigation, which unearthed billions
of dollars worth of fake claims. 
    Nigeria imports gasoline through two state-owned authorities
- PPPRA and the Pipelines and Product Marketing Company, PPMC. 
    The PPPRA allocations vary quarter-on-quarter while the PPMC
typically brings in about 1.4 million tonnes per quarter through
crude-for-product swap agreements with traders, market sources
    Total Nigerian gasoline imports are expected to be close to
3.1 million tonnes. 
    The country is chronically short of oil products,
particularly gasoline, due to a long period of under-investment
in its domestic refineries. 
    MRS Oil Nigeria was absent from the list, after
being included in the second quarter, but some return winners
were Oando, Total, Conoil,
Folawiyo Oil and Gas, Forte Oil, Techno Oil, NIPCO and
Masters Energy.
    Mobil Nigeria PLC, ExxonMobil's local arm, was
listed among the winners with larger volumes as well as Aiteo.
Allocation sizes vary from 30,000 tonnes up to 120,000 tonnes. 
    Following is a list of companies licensed to import gasoline
for July to September by PPPRA. 
 1    A-Z
 2    Aiteo
 3    Avidor
 4    BSR
 5    Bovas
 6    Conoil
 7    Cybernetics
 8    Folawiyo
 9    Forte
 10   Gulf Treasures
 11   Hyde
 12   Integrated
 13   Matrix
 14   Mettle
 15   NIPCO
 16   Oando
 17   Rainoil
 18   Sahara
 19   Shorelink
 20   Total
 21   TSL
 22   Mobil
 23   Ascon
 24   Hudson
 25   Dee Jones
 26   Techno
 27   Masters

 (Editing by David Evans)

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