Firm denies importing substandard fuel

Matrix Energy Group, an indigenous and independent oil marketing and trading company, has insisted that it has never imported or distributed any substandard cargo in its two decades of operation but has consistently imported products that meet approved specifications.

The oil marketing and trading company issued the clarification following an online publication claiming that Matrix Energy is one of the biggest importers from Malta, a tiny European country.

According to reports, Nigeria’s petroleum importation from Malta surged significantly to $2.8 billion, compared to zero between 2017 and 2022, and a mere $13.32 million in 2016.

However, in its official reaction, the management of Matrix Energy said although it has the capacity and customer base to handle such volumes, it has never imported or distributed any substandard cargo in the company’s two decades of operation.

“Matrix Energy Group is a wholly indigenous and independent oil marketing and trading company, with substantial investments in strategic infrastructure, including vessels, oil and gas terminals, trucks, and retail outlets across 28 states, including the Federal Capital Territory (FCT).

“The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) is the sole regulatory body empowered by the Petroleum Industry Act (PIA) to issue import licenses and enforce the Standards Organisation of Nigeria (SON) product specifications.”

The firm maintained that Matrix Energy has consistently imported products that meet the approved specifications and has never been found wanting in this regard.

According to them, none of their customers have ever rejected their products, as demand for their products often exceeds their capacity to supply, a testament to their reputation for reliability. This success is equally reflected in their fertiliser business.

They said, contrary to the claims made in the aforementioned publication, they did not discharge 200,000 metric tons of PMS into their facility in July 2024.

“While we have the capacity and customer base to handle such volumes, Matrix Energy has never imported or distributed any substandard cargo in our two decades of operation.”

They recalled that the Nigerian National Petroleum Corporation (NNPC) recently introduced its Utapate crude oil blend from OML 13, as they traditionally tender their free crude cargoes, and any company that wins the tender is operating within the law.

They wondered why the criticism is directed solely at them while other companies that also won tenders are not subjected to the same scrutiny.

The oil firm assured that they remain steadfast in their commitment to supporting Nigeria by ensuring the availability of petroleum products at competitive prices, in alignment with the president’s vision for the country.