Heyden Petroleum and Ardova Partner with Dangote Petroleum Refinery for Affordable Fuel
The refinery announced a partnership with Heyden Petroleum and Ardova Plc. This move aims to ensure affordable Premium Motor Spirit (petrol) across Nigeria.
The refinery, in a statement, linked the deal to President Bola Tinubu’s crude-for-naira initiative. The initiative enabled both companies to enter a bulk purchase agreement with the Dangote Refinery.
Building on MRS Oil’s Partnership with Dangote Petroleum Refinery
The Dangote Refinery noted that MRS Oil had earlier signed a similar agreement. This partnership led MRS Oil to lower fuel prices to N935 per litre nationwide.
“MRS Oil’s stock reached a 52-week high last Friday,” the refinery stated. This reflects growing investor confidence in the company’s prospects.
Reliable Supply Chain
The agreement ensures Ardova and Heyden Petroleum access to consistent, reliable petroleum product supplies. The Dangote Petroleum Refinery’s large-scale operations will benefit consumers nationwide.
“The arrangement guarantees a full range of refined products for both companies,” the refinery confirmed. This strengthens the supply chain and ensures stable pricing for consumers.
Enhancing Competition in the Oil and Gas Sector
Ardova Plc highlighted the partnership’s significance for Nigeria’s oil and gas industry. The company emphasized its long-term collaboration with the Dangote Petroleum Refinery.
“This framework formalizes a robust relationship with the Dangote Refinery,” Ardova stated. It aims to create long-term benefits for all stakeholders.
Transformative Impact of Dangote Petroleum Refinery on the Market
The Dangote Refinery said the partnership will help reduce fuel scarcity in Nigeria. It ensures fuel availability in over 1,000 retail outlets owned by both companies.
“The partnership ensures stable and affordable fuel products for consumers,” the refinery noted. This alleviates challenges of price hikes and shortages.
Dangote Petroleum Refinery’s Role in Stabilizing Fuel Supply
Since commencing production in 2024, the refinery has addressed supply challenges. It has played a crucial role in maintaining market stability.
“Unlike past years, this festive season saw stable fuel availability,” the refinery stated. The refinery continues to contribute to market consistency and affordability.
