Pinnacle Oil & Gas: Commitment to quality fuels, no substandard products for Nigerians
Yesterday, Pinnacle Oil & Gas declared that it will never provide Nigerians with inferior petroleum products. Pinnacle Oil’s remark was a direct response to a claim made by the Dangote Refinery’s management on Sunday that a blending plant was being built near its Lagos facility with the goal of selling Nigerians inferior petroleum products.
As the only depot in the vicinity of the Dangote Refinery, Pinnacle Oil & Gas responded to address the refinery’s concerns in a news statement that was made public.
“An international trading company has recently hired a depot facility next to the Dangote Refinery, with the objective of using it to blend substandard products that will be dumped into the market to compete with Dangote Refinery’s higher quality products,” the Dangote organization claimed in a press release on November 3.
However, Pinnacle Oil & Gas claimed that because it had a track record of honesty and rigorous adherence to current laws, it was unable to supply Nigerians with subpar goods.
“Pinnacle Oil & Gas has the only depot facility next to the Dangote Refinery,” the business insisted. We firmly declare that Pinnacle Oil & Gas would never import or try to distribute any subpar or off-spec product into the Nigerian market.
“We place a great deal of importance on our company’s reputation for integrity and regulatory compliance.”
The oil and gas company went on to say that when numerous buyers and sellers were permitted in a deregulated setting, the system performed far better.
Read Also: Breaking: Ekiti Chief Judge Oyewole Adeyeye passes away
It claimed that having alternatives for supplying Nigerians with fuels, whether they are imported or locally refined, was the proper thing to do. Pinnacle Oil & Gas claims that the lowest sustainable price will be determined once this is permitted to occur.
“Deregulated commodity markets function best when there is an open system of multiple sellers and multiple buyers bidding to establish the market price,” said Pinnacle Oil & Gas. The process that would set the lowest sustainable costs is for Nigeria to have supply options that include imports or domestic refineries.
“A free market is also controlled to guarantee that all goods fulfill national standards and that all participants act in a responsible manner.”
With a focus on the petroleum trading, marketing, distribution, and retail sectors of the Nigerian oil and gas industry, Pinnacle is an indigenous corporation that operates along the whole downstream value chain.
