The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced that it has reached a production partnership agreement with the management of OPAC Refineries to supply Kerosene (DPK) to its members all over the country.
According to IPMAN National President, Elder Chinedu Okoronkwo, this move is intended to bridge existing gaps while also expected to ameliorate effects of shortage of supply of kerosene in the country which, according to him, the impact is already hurting most households, couple with the continuous rise in the prices of Liquefied Petroleum Gas (LPG), Cooking Gas.
The decision which was announced on Monday, November 15, 2021 and expected to come into effect immediately is one of the many ways IPMAN intends to provide a workable solution to the scarcity and price volatility of Kerosene across Nigeria, IPMAN National President noted.
It will be recalled that OPAC refineries in August this year completed the first phase of its production and refining process and the production of the first set of refined products in its refinery in Kwale, Delta state after four years of continuous development of its refining capacity. OPAC Refineries which is a leading indigenous refining company noted that it had completed the first production process which was able to produce Diesel – AGO, Kerosene – DPK, Fuel Oil-FO, and Naphtha – source for Premium Motor Spirit (PMS).
Following the successful test run of OPAC Refineries, this newly concluded agreement is expected to provide a good volume of kerosene into the supply value chain to bridge the demand crisis nearing its peak. This will also serve to cushion the effects of pre- Christmas season hike in demand and increase in prices of most commodities.
OPAC Refineries is imbued with the capacity to produce multiple primary products such as Diesel or Automotive Gas Oil (AGO), Kerosene (DPK), Light Fuel Oil (LFO), and Naphtha – source for Premium Motor Spirit (PMS). Being the first-of-its-kind modular refinery located in Umuseti, Kwale in Delta State, Nigeria, OPAC Refineries is equipped with a processing capacity of 10,000 barrels of crude oil per day, with plans of expansions and spread to different regions.
As an indigenous company, OPAC Refineries is reckoned as one of the most promising local oil & gas production infrastructure and top amongst the first indigenous modular refineries to significantly provide locally refined products at affordable cost.