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Sunday, May 26, 2024

oil vessels face delay on sea, fuel Scarcity may continue

By Mitchelle Uzorka, 5:38am

Due to the ongoing war between Russia and Ukraine, petrol coming into Nigeria from the warring region and its adjoining areas are likely to face some delays.

It was also gathered on Sunday that traders who supply Nigeria with refined petroleum products might pause a little due to the deficit in the supply of crude oil cargoes from the Nigerian National Petroleum Company Limited.

sources both at the oil firm and among traders stated on Sunday that Nigeria through the NNPC had a deficit of about 17 cargoes in its DSDP obligation due to low oil production. They also noted that the Russia-Ukraine war might worsen the petrol supply situation in Nigeria as products could be hindered from leaving refineries in the region on schedule.

This, they said, could further prolong the fuel scarcity situation being faced nationwide, except something drastic such as the complete deregulation of the downstream oil sector was implemented.

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