- Sign products and purchase agreement
In a significant development within the Nigerian petroleum industry, NNPC Retail Limited and Azikel Petroleum Limited have solidified a strategic partnership through the signing of a Petroleum Products Sale and Purchase Agreement. The agreement was formally sealed today, with Mr. Huub Stokman, Managing Director of NNPC Retail Limited, and Dr. Eruani Azibapu, CFR, Chairman of Azikel Petroleum Limited, presiding over the signing ceremony.
Under the terms of this pivotal agreement, NNPC Retail Limited is set to procure petroleum products, encompassing Premium Motor Spirit (PMS) and Automotive Gasoil (AGO), from Azikel Petroleum Limited’s hydro skimming refining complex. This facility, with a capacity of 12,000 barrels per day, is strategically located in Obunagha, Gbarain, Yenagoa LGA, Bayelsa State, Nigeria.
This partnership between NNPC Retail Limited and Azikel Petroleum Limited is geared towards bolstering the distribution and accessibility of petroleum products throughout the nation. By leveraging the resources and capabilities of both entities, the alliance seeks to play a crucial role in advancing economic growth and fortifying energy security within Nigeria.
The agreement signifies a crucial milestone in the ongoing efforts to optimize the petroleum sector, aligning with broader national objectives aimed at enhancing efficiency, reliability, and sustainability in the supply chain of petroleum products across Nigeria.
