Petroleum products Crisis Continues As NNPC’s Supply Dwindles

..The fuel crisis continued unabated in Abuja and other parts of the country, yesterday, as motorists thronged the few petrol stations selling the product.
This was even as the Nigerian National Petroleum Corporation, NNPC, said it deployed 21.401 milllion litres of fuel to petrol stations across the country in two days, Saturday and Sunday, November 21 and 22, 2015, respectively.
The quantity of products dispatched by the NNPC for the two days was 50 per cent of Nigeria’s daily fuel consumption put at about 40 million litres per day, while it was 26.75 per cent of the country’s fuel consumption for both days.
Specifically, the NNPC, in its ‘Daily Dispatch Report to Filling Stations,’ released yesterday, stated that 2.621 million litres of fuel were dispatched from the Suleja depot to filling stations in Abuja and neighbouring states, while 1.754 million litres were lifted from the Kaduna depot.

Oil marketers received 4.673 million litres of Premium Motor Spirit, PMS,from the Kano depot; Minna depot dispatched 0.116 million litres; Mosimi depot gave out 2.16 million litres; Gusau depot deployed 1.421 million litres to oil marketers within its jurisdiction; while filling stations lifted 0.688 million litres from the Satelite depot.
Others are Ilorin, 0.436 million; Ore, 0.589 million litres; Ibadan, 0.451 million litres; Gombe, 0.336 million litres; Benin and Warri,  0.526 million each; while Port Harcourt, Aba and Makurdi dispatched 3.018 million litres, 0.606 million litres and 1.48 million respectively.
Due to the low products supply to Abuja and environs from the Suleja depot, most of the petrol stations in Gwarimpa and across Abuja were not selling as their gates were shut, while the few that were selling were besieged by motorists.
Long queues of vehicles were also seen at the NNPC Mega Station in Katampe, along the Kubwa Expressway, while MRS and Conoil filling stations down the road were shut.
At the Conoil and Total filling stations opposite the Nigerian National Petroleum Corporation, NNPC, headquarters at the Central Area in Abuja, the long queue witnessed last week continued, leading to occasional obstruction in traffic along the road.
At Dutse, also along the Kubwa Expressway, only Oando fillining station was selling while Gegu was shut to motorists.
A long queue was seen at the Total filling station in Asokoro, as commuters waited patiently to get the product, while Oando filling station at the Central Area of Abuja was not left out as people queued from as early as 5am waiting to get the products.
At the airport road area, MRS, and Oando was seen to be dispensing the product with large number of people while Millipat filling station had less motorists.
Despite the scarcity of the product, transport fares around the town remained normal. However, during the weekend the fares had gone up slightly as the scarcity deepened, but returned to normal yesterday.
In Suleja and Madala area, long queues were seen in Azman, Peace and Forte filling stations. NNPC at Gudu had a long queue too and the process of dispensing the product was very slow as commuters were seen to be complaining bitterly.
 
Oil slides back lower after spike on Saudi statement
Meanwhile, oil prices fell, yesterday, releasing fleeting gains made after the Saudi Arabian cabinet reiterated its commitment to work with other producers, as a firm dollar and concern over global oversupply reasserted themselves.
Prices rallied briefly after Saudi Arabia said in a statement the kingdom remained ready to work with other producing and exporting countries to stabilize prices. U.S. West Texas Intermediate crude futures were down 68 cents a barrel at $41.22 a barrel, having touched a session high of $42.75 following the Saudi statement. Benchmark January Brent futures were last down 23 cents at $44.43 a barrel. The price hit an intraday high of $45.73 earlier in the session.

Source: Sahara Reporters