CITA petroleum, an indigenous aviation fuel handling company, has signed a pact with Puma Energy in a bid to enhance Jet-A1 or aviation fuel supply in the aviation industry, The Guardian reports.
The new deal is expected to create supply to tackle the perennial shortage and distribution logistics challenges affecting the nation’s aviation sector. The aviation sector has often been faced with aviation fuel shortages. With a lack of refining capability locally, the sector relies on imported products, which is subject to forex availability. The situation has pushed the cost of aviation fuel up, ranging from N205 to N270 per litre, depending on where the product is bought.
Chief Operating Officer at CITA petroleum, Olasimbo Betiku, said as an indigenous company, it sought out a global alliance with a reputable firm that would help the company solve the supply problem. Puma Energy is one of the biggest suppliers of jet fuel in the world, with fingers in refining, retailing and other aspects of the energy chain. Puma is also part of a parent company called Trafigura Group.