What activities are undertaken at the Petroleum Downstream?
Q: When did the deregulation of the Petroleum Downstream begin? A: The deregulation of the Petroleum Downstream Sector started in September 1996. The programme has been implemented in a step by step manner as follows: 1. In September 1996, TOR assumed the responsibility for crude oil and finished products procurement and importation. 2. The distribution network was decentralized through the use of the Bulk Oil Storage and Transportation (BOST) depots that are strategically located throughout the country. This was completed in 1998. 3. The next step was to publish and implement a more transparent automatic petroleum pricing formula for setting and adjusting ex-refinery prices periodically to ensure full cost recovery at all times. This was completed in June 2001. 4. The distribution margins were adjusted to comparable levels within West African sub-region to provide adequate incentives for the private sector to participate in the procurement, marketing and sale of petroleum products in
