Matrix Energy delivers 104 million of PMS

MATRIX Energy Limited has embarked onthe delivery of over 12 million litres of Premium Motor Spirit (PMS) and Kerosene on daily basis to ease the challenges of fuel scarcity in the country.

The company said in a statement on Monday, that it has consistently ensured regular supply of fuel to filling stations since NUPENG called off its strike on May 25, 2015, and is currently expecting another cargo of 22,000 metric of PMS and 18,000 metric tonnes of diesel this week.

The company has however, distanced itself from the charge that oil marketers were responsible for the oil scarcity, which brought the economy to a halt for weeks.

Matrix, which owns a state of the art oil terminal in Warri, said it imported 101 million litres PMS in the month of May 2015 alone and trucked out over 104 million litres of the product.

Matrix’s Deputy Managing Director/Chief Operating Officer, Loqman Salam-Alada, said: “We currently store and distribute AGO (Diesel) from four depots namely Matrix Depot, Warri, Bluefin Energy Depot, Warri, OBAT Oil Depot, Lagos and Capital oil Depot, Lagos.

“Matrix has been trucking out over 12 million litres on daily basis since NUPENG called off its strike on May 25, 2015, and is currently expecting another cargo of 22,000 metric of pms and 18,000 metric tonnes of diesel to be discharged this week.”

NUPENG, according to him, was the problem as it gave instruction to marketers to shut down operations and forced them to do so. He added that for instance, the union blocked Matrix’s Warri oil supply terminal with four trucks.

“But after call-off of strike, we have been working round the clock supplying products to outlets in the South-South and South-East geopolitical zones of the country,” he said.

Salam-Alada gave his support to full removal of subsidy and full deregulation of the downstream sector. He said” “I strongly believe that deregulation of the sector will bring in additional investment into the country as private refineries will spring up thereby creating local jobs and competence as well reduce pressure on our foreign exchange market.

Price of product locally will go up in the short term, but the gain in the long term outweighs the short term gain.”