Importing Fuel Now Makes No Economic Sense – OVH Energy

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OVH Energy Marketing Limited, Oando Licensee, has said importing fuel under the current arrangement does not make economic sense for any investor.

Its Managing Director, Mr. Hubb Stockman, stated this at an interaction with energy editors on the milestones recorded by the company. He said even if forex was procured at the official exchange rate of N306 from the Central Bank of Nigeria (CBN),  such investor would end up selling at a loss in the market.

He said the development has left the Nigerian National Petroleum Corporation (NNPC) as the sole importer of petrol into the country, adding that until deregulation happens, which is a decision of the Federal Government, the NNPC will continue to be the sole importer of petrol.

He said what the NNPC was doing at the moment, is to import petrol and allocate to members of the Major Oil Marketers of Nigeria (MOMAN) and NIPCO who pay jetty and throughput charges for products received.

Stockman said the coming on board of ASPM Jetty owned and operated by OVH Energy Marketing has changed the narrative and has become a jetty of choice for NNPC and PPMC because it is capable of accommodating bigger vessels ,well connected to other depots within the Apapa corridor and efficient for discharging of petroleum products.

Prior till now, he said the ASPM Jetty could not accommodate diesel vessels, saying that has now changed and the jetty can now take the such vessels.

On other achievements recorded, he disclosed that the company has invested significantly in upgrading its existing retail stations to better serve and create the right experience for its customers. ‘‘We have included stand-alone Oleum Service Centre with two bays complete with lifting equipment is some of our stations in addition to our traditional single pit lube bay within the station building. Our Lube Bay offerings include car servicing, oil change, car diagnosis, tyre change and air,  alignment and wheel balancing, and a 36-point car check.

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We know the sort of care an average car owner places on vehicles, so we added car wash service that included interior detailing and shampoo.

On Liquefied Petroleum Gas(LPG), popularly called cooking gas, he said the company has expanded its footprint, adding that, at the moment, it has installed over 38 skid tanks in its Pay-As-You-Gas(PAUG) plants, to provide a much easier access to gas refills for customers.

In addition to that, it has also added a 6kg 3-in-1 cooking bundle to its 0-Gas offerings (3kg, 6kg,12.5kg and 50kg) and PAUG spot buying option.

On its Corporate Social Responsibility (CSR) initiative, Stockman disclosed that its Oleum Academy has graduated over 4,800 mechanics and are currently training an additional 300.

‘’This is especially satisfying for us because we have achieved our target. In 2014, when we inaugurated the Academy, we said we would have trained 5,000 mechanics in five years. We have simply achieved that feat.

 

THISDAY

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