IPMAN suspends partnership with refiners, others

The Independent Marketers Association of Nigeria (IPMAN) has suspended talks with foreign oil refining companies until after the resolution of its crisis in December this year, its Controller of Operation, Mr. Mike Osatuyi, has said.

He also said IPMAN will not seek lending from international financial institutions in order to boost its operation, discuss the possibility of importing premium motor spirit (PMS) into the country, among other issues that are germane to the downstream sub-sector of the oil and gas industry.

In a telephone interview, he said the development is aimed at ensuring that IPMAN has a clearer issue of happenings to the sub-sector, operates in line with the constitution, which guides activities of individuals and organisations in the country.

He noted that IPMAN has concluded plans to set up its own refineries, in order improve local consumption of fuel. He said when IPMAN’s refineries come on stream, they would help Nigeria to export fuel to other countries in the West African sub-region and beyond.

Source: The Nation

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