By YEMIE ADEOYE
LAGOS — The Petroleum Products Pricing Regulatory Agency, PPPRA, has called for an expression of interest from qualified oil marketers who may wish to participate in this year’s third quarter (Q3) petroleum products supply plan.

A statement signed by the Executive Secretary of the Agency, Engr. Goody Egbuji, stipulated that interested marketers are expected to submit their requests not later than June 10, 2011 so as to allow for early processing of supply plan for the quarter.

Outlining the requirements, the statement indicated that the operators must be under the Petroleum Support Fund (PSF) scheme to participate.

In the document, the Agency notified “all operators under the Petroleum Support Fund (PSF) scheme that collation of Q3, 2011, PMS import proposal has commenced.

Marketers were advised to submit their requests not later than June 10 to allow for early processing of supply plan for the quarter”.

It also noted that consideration shall be given to Marketers’ expression of interest upon satisfaction of some stipulated parameters, which include the “evidence of Incorporation with the Corporate Affairs in downstream specific business, evidence of ownership of downstream logistic facilities (Jetties/Depot, Retail Network) and submission of annual business turn-over in the downstream sector in the last five years”.

The companies are also required to have “valid throughput agreement in lieu of ownership facility in exceptional cases upon fulfillment of evidence of ownership of investment in other downstream logistic facilities”.

Also included in the requirements are the “submission of three year audited report of the Company/FIRS and Tax Clearance, submission of evidence of level of investment in the industry in the last five years and the submission of detailed operational network”.

Others are the “submission of verifiable evidence of finance for the requested volume for allocation and submission of evidence of employment of a minimum of twenty staff”. Detailed information on these requirements can be found on the Agency’s website.

The Petroleum Support Fund (PSP) scheme was adopted by the Federal Government in 2006 in order to meet up with the unabated upward pressure on petroleum products prices. In this scheme, funds are appropriated to stabilize the domestic prices of petroleum products.

This serves as an assurance to Marketers who may wish to complement the efforts of the Nigerian National Petroleum Corporation (NNPC) at sourcing products into the system depending on the volume required for the quarter and other necessary considerations.