Tuesday 23 October 2012

Firm Seeks Approval To Import And Sell Fuel At N75/ Litre




As the fuel crisis continues, Epic Refinery andPetrochemicals Company Limited, has said it intends to import refined fuel and sell at N75 per litre.
Managing Director of the company, Mathew Wenke, told THISDAY that
his company did not intend to seek subsidy to import petroleum products.



He said that the company had done a feasibility study during a recent tour to the South Korea on the viability of the project, adding that Epic had already applied for approval to the Ministry of Petroleum and other relevant agencies of government to import fuel.
Wenke said that such importation was part of the company’s contribution to the Federal Government’s transformation agendaunder President Goodluck Jonathan’s administration.
According to him, the current scarcity of fuel and the attendant high cost was causedby saboteurs who want to discredit the present administration for political reasons.


Wenke said the petroleum products when imported would be made available to Nigerians through the use of the distribution network of the Nigerian National Petroleum Corporation (NNPC) to squarely address the issue of scarcity.
He however said the company which had applied to the Department of Petroleum Resources (DPR) to build a $30bn refinery in Bayelsa State would acquire series of tankers to distribute the product to all zonesin the country.
“The current fuel scarcity is caused by some saboteurs and we intend to fill this gap. It is for the sake of national interest. We shall go into mass importation of fuel while preparing to establish refinery in the next two years. We shall import fuel without asking for subsidy. We have sought to use the NNPC distribution network to address the issue of scarcity. We shall do this to show our support to the President.”, he said


He explained that the idea to sell at N75 perlitre at a time when fuel was selling between N110 and N130 in some parts of the country was mainly to demonstrate genuineness to contribute to the nation’s development and not to create more hard times for Nigerians.
“We believe that after selling at N75 per litre we shall still have enough to sustain our business”, he said.
Wenke promised that when his company was granted licence to build a refinery, the company would ensure that the price per litre would further go down.
He disclosed that the company planned to import fuel, diesel and kerosene, adding that if industry marketers went on strike for whatever reason, the company should bringin its own trucks for products distribution.


“We have written to the Minister and other agencies that we want to import. We are now waiting for their approval”, he said.
When asked on how his company intended to handle the issue of the oil industry cabal trying to frustrate such offers, he maintained that the company could not be intimidated in whatever way.
“No cabal can stop us from importing fuel atreduced price. To us, we are trying to contribute our quota to the economic development of this country. We want to think and behave like a new Nigerian. As Ijaw man, we are all mafians, we believe that nobody can stop us”, he said.

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