Pinnacle Oil & Gas signed a 13-year Interconnection Agreement with Dangote Refinery, using its $1 billion Petrol Terminal to improve petroleum distribution across Nigeria. CEO Robert Dickerman emphasized their investment in pipelines for cost-effective distribution, reducing reliance on ships and trucks. Dangote supported the project by facilitating regulatory approval, aiming for a market-based solution to Nigeria’s energy needs. Dickerman noted that efficient distribution relies on competitive pricing and quality products, regardless of origin. Pinnacle’s Lekki terminal, operational since 2021, minimizes costs by eliminating the need for ship-to-ship transfers, improving efficiency. Responding to Dangote’s recent statement, he clarified that imports don’t imply substandard quality, as the regulator ensures standards. Pinnacle anticipates that Dangote’s integration into Nigeria’s distribution network will enhance industry stability and encourage investment in refining and storage.
