Oil Firm Denies Importing Substandard Oil

The management of Matrix Energy Group, an indigenous and independent oil marketing and trading company, has said that it has never imported or distributed any substandard cargo in to the country in the las two decades of its operation.

The company also said it has consistently imported products that meet approved specifications.

The oil marketing and trading company gave the clarification following an online publication to the effect that Matrix Energy is one of the biggest importers via Malta, a tiny European country.

Part of the report noted that 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.

Part of the statement read that “our attention has been drawn to a recent online publication. Under normal circumstances, we would refrain from responding. However, the need to protect and uphold the integrity of the brand and reputation we have meticulously built over the past 20 years compels us to address the inaccuracies presented.

“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 Organization of Nigeria (SON) product specifications.

“Matrix Energy has consistently imported products that meet the approved specifications, and we have never been found wanting in this regard.

“Our commitment to quality is reflected in the fact that none of our customers have ever rejected our products; indeed, demand for Matrix products often exceeds our capacity to supply, a testament to our reputation for reliability. This success is equally reflected in our fertilizer businesses.

“Our depots boast a storage capacity of 150 million liters of liquid products, including LPG and bitumen. However, contrary to the claims made in the aforementioned publication, we did not discharge 200,000 metric tons of PMS into our 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.

“It is important to note that the Nigerian National Petroleum Corporation (NNPC) recently introduced its Utapate crude oil blend from OML 13. NNPC traditionally tenders its free crude cargoes , and any company that wins the tender is operating within the law.

“It is curious that criticism is directed solely at Matrix Energy while other companies who also won tenders, are not subjected to the same scrutiny.

“Our chief executive officer, Abdulkabir Adisa Aliu is a talented and dedicated Nigerian with the right to associate freely. Those who know him understand that he is far from lazy; rather, he is deeply committed to making a positive impact. His selection by Mr. President to serve as a member of the Economic Coordination Council is a recognition of his dedication to shared values and his commitment to the betterment of Nigeria in the Renewed Hope Agenda , for which he remains deeply grateful.

“Matrix Energy Group remains steadfast in our commitment to supporting Nigeria by ensuring the availability of petroleum products at competitive prices, in alignment with Mr. President’s vision for the country” reads the statement in part.”