FRI JAN 03 2025-theGBJournal|Ardova Plc, one of Nigeria’s major integrated downstream oil and gas business has agreed to a bulk purchase framework with Dangote Refinery.
Ardova, formerly Forte Oli Plc, said in a statement released by its Head, Brand and Corporate Communications, Grant Onome, seen by theG&BJournal, that the move is in bid to guarantee supply security at affordable prices for its customers.
The framework will see Ardova Plc offtake a full slate of petroleum products from Dangote refinery.
According the energy major, ”while Ardova Plc has been a significant off taker from the refinery since its inception , this new framework will institutionalize a more robust relationship between the two companies to further enhance the emerging competitive landscape in the downstream oil and gas industry in the country.”
Ardova adds that the framework is also in line with President Tinubu’s drive for competition and improved efficiency in the industry and will see Ardova Plc deliver products at competitive prices nationwide.
A statement by Dangote Refinery Thursday said Heyden Petroluem has also joined the fray.
The move by both oil majors follows earlier move by MRS Oil Nigeria Ltd, which crashed its petrol price to N935 per litre nationwide in December 2024, on the back of Dangote Refinery and NNPCL’s step to reduce petrol prices from their refineries.
Recall that Dangote Refinery subsequently partnered with MRS shortly before the Christmas Holidays to sell petrol from its retail outlets nationwide at N935 per litre.
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