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,…
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) is worried that after three years of the passage of the Petroleum Industry Act, the provision for host communities in the PIA is yet to be implemented. The act stipulates that 3% of the operational revenue of the oil companies be contributed to the…
In its continued bid to maximise the nation’s abundant gas resources for economic development and prosperity, NNPC Ltd has begun discussions with investors towards bringing back two Liquefied Natural Gas (LNG) projects, Brass and Olokola LNG projects. NNPC Ltd’s Chief Financial Officer (CFO), Mr. Umar Ajiya disclosed this on the sidelines of the ongoing 2024…
Crude Oil Refiners Association of Nigeria has kicked against a move by petroleum marketers to import Premium Motor Spirit (Petrol) despite the availability of Dangote Refinery Petrol.Publicity Secretary of CORAN, Eche Idoko, made this known in a statement condemning the move. His comments come as a report emerged that 141 million liters of PMS are…
The Dangote Petroleum Refinery and the Nigerian National Petroleum Company Limited gave divergent views over the price of Premium Motor Spirit, popularly called petrol, produced and pumped out on Sunday by Dangote Refinery. While both oil firms have different accounts of the price of PMS dispensed by Dangote on Sunday, independent oil marketers say they…
