Crude oil refiners and Operators in Nigeria’s downstream sector have pointed to dollar-denominated charges on locally refined petrol as a major factor behind the higher cost of locally produced fuel compared to imported Premium Motor Spirit (PMS). Data from the Major Energies Marketers Association of Nigeria (MOMAN) revealed that as of December 5, 2024, the … Read more
The Dangote Petroleum Refinery and the Petroleum Products Retail Outlets Owners Association (PETROAN) are in ongoing discussions to finalise the details for lifting petroleum products from the refinery. EKO HOT BLOG reports that on Monday, Dr. Billy Gillis-Harry, the National President of PETROAN, led the association in negotiations with Dangote Refinery in Lagos. The talks … Read more
The Petroleum Products Retail Outlets Owners Association (PETROAN) has reached an agreement with the Dangote Refinery to lift petroleum products directly, ensuring seamless distribution across depots and retail outlets during the yuletide season. This development was confirmed in a statement by PETROAN’s National Public Relations Officer, Dr. Joseph Obele, on Saturday. EDITOR’S PICKS PDP Declares … Read more
The Nigerian National Petroleum Company Limited (NNPCL) has confirmed that it has not yet commenced bulk sales of petroleum products to marketers from its Port Harcourt Refining Company (PHRC). Currently, the company is selling products sourced from the Dangote Refinery at its retail stations. EDITOR’S PICKS Japa: Russia Opens Doors to Migrants Amid Workforce Shortage … Read more
The Nigerian National Petroleum Company Limited (NNPCL) has adjusted the price of Premium Motor Spirit (PMS) for marketers, lowering it from ₦1,045 per litre to ₦1,030 per litre. This announcement was made by Dr. Billy Harry, National President of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), during a strategic meeting and award … Read more
A group of Nigerians in Diaspora, under the auspices of the Nigerians in Diaspora Movement, NDM, has expressed fear that failure of government to fix its refineries in the country might encourage Dangote Refinery to be monopolistic in oil distribution in Nigeria. In a statement by its Global President, Donald Illiya, on Monday in London, … Read more
Dangote Refinery has reduced the Premium Motor Spirit (Petrol) price for marketers to N970 per litre. The spokesperson of Dangote Group, Anthony Chiejina, disclosed this in a statement on Sunday. According to him, the 650,000 barrels per day refinery slashed the petrol price by N20 from N990 per litre to N970. This comes as the … Read more
The Nigerian National Petroleum Company Limited (NNPCL) and major oil marketers are engaged in discussions aimed at eliminating petrol importation by increasing reliance on the Dangote Refinery. The meeting, held at the NNPCL Towers in Abuja and chaired by NNPCL Group CEO Mele Kyari alongside the Nigerian Midstream and Downstream Petroleum Regulatory Authority, included representatives … Read more
The Dangote Petroleum Refinery has resumed purchasing crude oil from the United States, marking a significant step in its efforts to boost production and refine capacity. This follows a three-month pause in foreign crude imports as the refinery prioritized domestic supplies. Bloomberg reports that a shipment of two million barrels of WTI Midland crude from … Read more
The Dangote Petroleum Refinery has commenced the export of refined petroleum products to neighboring West African nations, signaling a potential disruption in regional fuel markets. A Bloomberg report on Tuesday, citing data from Vortexa, Kpler, Precise Intelligence, and ship-tracking platforms, revealed that a tanker recently transported a shipment of gasoline from Dangote’s refinery to the … Read more
The Dangote Refinery and the Independent Petroleum Marketers Association of Nigeria (IPMAN) have finalized an agreement for the weekly supply of 60 million litres of Premium Motor Spirit (PMS). This deal coincides with a marginal reduction in fuel prices at IPMAN member filling stations nationwide, according to the association’s spokesperson, Chinedu Ukadike, who provided an … Read more
The Nigerian National Petroleum Company Limited (NNPCL) has firmly dismissed claims that it has ceased the importation of refined petroleum products, calling recent reports a “misrepresentation and misinterpretation of facts.” The reports, which circulated widely online on Tuesday, suggested that NNPCL’s Group Chief Executive Officer, Mele Kyari, had announced an end to fuel importation, citing … Read more
The Nigerian National Petroleum Company Gas Marketing Limited (NGML), a subsidiary of NNPC Limited, has signed a Gas Sale and Purchase Agreement with Dangote Petroleum Refinery and Petrochemicals, Lagos, to supply natural gas for power generation and as feedstock for the refinery. The agreement was executed by NGML’s Managing Director, Justin Ezeala, and Dangote Group’s … Read more
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced that its members can now purchase petrol directly from Dangote Refinery at rates of N990 per liter for loading at depots and N940 per liter when transported by vessel. This landmark agreement, aimed at providing a steady and potentially cheaper fuel supply across Nigeria, signals … Read more
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, NNPCL, Mele Kyari, has dismissed the claims that the NNPCL is working against the prosperity of local refineries. Kyari made this clarification on Monday in Lagos while outlining the vision for Nigeria’s energy future at the opening ceremony of the 42nd Nigeria Association … Read more
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has finalized a partnership with Dangote Refinery for the direct supply of fuel products, aiming to secure a stable and affordable distribution of Premium Motor Spirit (PMS) nationwide. IPMAN’s National President, Abubakar Garima, confirmed this development on Monday during a press briefing in Abuja following a meeting … Read more
The Crude Oil Refinery Owners Association of Nigeria (CORAN) has cautioned the Federal Government against issuing import licences to petroleum traders, warning it could harm Nigeria’s nascent refining sector. CORAN’s Publicity Secretary, Eche Idoko, voiced concerns that some marketers were determined to import substandard petrol, using Nigeria as a dumping ground for rejected products from … Read more
A coalition of Civil Society Organisations (CSOs) protested at the National Assembly on Friday, voicing concerns over the unresolved issues between the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Refinery, which they say negatively impact Nigerians, especially regarding fuel availability and pricing. EDITOR’S PICKS Electricity Meter Costs Rise Again As Deregulation Takes Effect Biden, … Read more
In Abuja on Monday, hundreds of Nigerians staged a major protest against skyrocketing fuel prices, persistent shortages, and worsening economic conditions. Led by Abdullahi Bilal of the Two Million Man March Against Oil Scam Cabal, alongside Barrister Napoleon Otache and Olayemi Isaac from the Citizens and Economic Freedom Rights Activists in Nigeria (CEFRAN), demonstrators demanded … Read more
On Sunday, the management of Dangote Refinery disclosed the price at which it sells petrol per litre to marketers. According to the refinery, petrol is sold to trucks at ₦990 per litre, while sales to ships are priced at ₦960 per litre. In a statement signed by Group Chief Branding and Communications Officer Anthony Chiejina, … Read more