OIL AND GAS

The Independent Petroleum Marketers Association of Nigeria has threatened to stop operations nationwide following the high cost of Premium Motor Spirit, popularly known as petrol, sold to IPMAN members by the Nigerian National Petroleum Company Limited. IPMAN revealed on Thursday that the cost of petrol from the Dangote Petroleum Refinery to NNPC was about N898/litre,…

Nigeria’s abundant gas reserves can offer immediate solutions to the nation’s energy challenges if well managed. The Managing Director of Eterna Plc, Abiola Lukman Lawal, stated this while speaking on the theme: ‘Driving energy sufficiency in the downstream sector through CNG and LPG’ at the 2024 Annual Strategic International Conference of the Association of Energy…

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has denied reports that he ordered the NNPCL to stop running its own refineries and focus on equity participation in others. He made the clarification in a press statement made available to the media. “My attention has been drawn to statements made by Engr….

The Chairman, Petroleum Technology Association of Nigeria (PETAN), Engr. Wole Ogunsanya, says Nigeria’s energy independence hinges on effective utilization of its abundant gas reserves. This, he said, can be achieved by implementing strategic initiatives that will propelthe country towards energy self-sufficiency. He urged the government and other critical stakeholders in the energy sector to focus…

The pump price of fuel has reduced from N1300.00 and N1350.00 to between N1200.00 and N1150.00 in Abia, following the Nigeria National Petroleum Company opening its portal for direct requests and payments for fuel from members of the Independent Petroleum Marketers Association of Nigeria. The fuel situation monitored in Abia indicates that some petroleum marketers…

The Nigerian National Petroleum Company Limited (NNPC) is ending its exclusive purchase agreement with Dangote Refinery, opening up the market for other marketers to buy petrol directly from the refinery. This means NNPC will no longer be the sole off-taker, and marketers can now negotiate prices directly with Dangote Refinery.This development aligns with the current practices for…

There are indications that the supply of crude oil in naira by the Nigerian National Petroleum Company Limited to the Dangote Petroleum Refinery which should have started on October 1, 2024, has yet to begin as of Thursday, October 3. Officials at the Dangote refinery and those at the Nigerian Upstream Petroleum Regulatory Commission, Federal…

Petroleum marketers have raised an alarm that the Nigerian National Petroleum Company Limited, NNPCL, portal used for the purchase of Premium Motor Spirit (Petrol) has been shut down against dealers, making it impossible to apply for the commodity.The spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike disclosed this in a statement on…

The landing cost of Premium Motor Spirit, popularly called petrol, has dropped to N981/litre, according to data released by the Major Energies Marketers Association of Nigeria on Thursday. The petrol landing cost, around N1,130 in previous weeks, came down by over N140 as of September 25, 2024, occasioned the recent drop in global crude oil…

The Major Energies Marketers Association of Nigeria (MEMAN) says the transition to electric vehicles represents a key strategy for reducing emissions and promoting sustainable energy use, both globally and locally. The Managing Director of SAGLEV, Dr. Sam Faleye, who stated this at the MEMAN quarterly press briefing in Lagos, said Electric vehicles offered numerous advantages,…