The Nigerian National Petroleum Company Limited (NNPC) has confirmed that five individuals remain missing following a helicopter crash that occurred on Thursday, October 24, 2024, in Port Harcourt. Despite extensive search and rescue operations conducted by relevant authorities, only three bodies have been recovered thus far. EDITOR’S PICKS BREAKING: Tinubu Arrives Abuja After Two-Week … Read more
Approximately 42.3 million litres of imported Premium Motor Spirit (PMS), or petrol, are expected to arrive in Nigeria next week, oil marketers announced on Friday, emphasizing the ongoing need for imports due to insufficient domestic production. Industry dealers noted that while local refining efforts from modular refineries and the Dangote Petroleum Refinery are underway, they … Read more
The Nigerian National Petroleum Company Limited (NNPCL) has begun the process of addressing its outstanding debt of over $6 billion, a development confirmed by the Nigerian government through the Ministry of Finance. EDITOR’S PICKS BREAKING: Tinubu Arrives Abuja After Two-Week Working Vacation In UK, France NIDCOM Gears Up for 7th Nigeria Diaspora Investment Summit, Aims … Read more
The NNPC Limited and Chevron Nigeria Limited Joint Venture (NNPC-CNL JV) has announced a major oil discovery following the successful drilling of the Meji NW-1 well in Petroleum Mining Lease (PML) 49, located in the shallow waters of the Western Niger Delta. This region remains a key part of Nigeria’s energy production and now operates … Read more
The Nigerian National Petroleum Company Limited (NNPC) has agreed to sell Premium Motor Spirit (PMS), commonly known as petrol, to the Independent Petroleum Marketers Association of Nigeria (IPMAN) at a rate of N995 per litre. This follows the intervention of the Department of State Services (DSS) in resolving the conflict between both parties. EDITOR’S PICKS … Read more
The Independent Petroleum Marketers Association of Nigeria (IPMAN) is set to engage in talks with Dangote Petroleum Refinery from Tuesday to Wednesday to finalise agreements on the pricing and lifting of petrol from the facility. According to reports on Sunday, the Petroleum Retail Outlet Owners Association of Nigeria (PETROAN) had been asked by the $20 … Read more
The Federal Government has officially granted petroleum marketers the authority to lift petrol directly from the Dangote refinery, effectively bypassing the Nigerian National Petroleum Company Limited (NNPC) and ending its monopoly as the sole distributor of Dangote’s refined fuel. EDITOR’S PICKS Health, Planning Ministries Partner with AfDB on Sustainable System Project Shamim Ahmed: Student Ally … Read more
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced that the full deregulation of petrol pricing and the withdrawal of NNPC Limited as the sole off-taker from the Dangote Refinery grant marketers the freedom to source petrol from various suppliers, including imports. This statement follows NNPC’s recent increase of petrol prices by 15%, bringing … Read more
Nigerians are bracing for a steep increase in petrol prices following the Nigerian National Petroleum Company Limited’s (NNPC Ltd) decision to end its exclusive purchase agreement with Dangote Refinery, according to a report by Premium Times. The shift is expected to drive the cost of petrol to a minimum of ₦991.21 per litre from the … Read more
The price of Premium Motor Spirit (PMS), commonly known as petrol, has decreased in Abia State. The price, which previously ranged between ₦1300.00 and ₦1350.00, has now dropped to between ₦1150.00 and ₦1200.00. This price reduction follows the Nigeria National Petroleum Corporation (NNPC)’s decision to open its portal for direct fuel requests and payments by … Read more
The Nigerian National Petroleum Company Limited (NNPC) is set to implement a new pricing regime for petrol after lifting approximately 103 million litres from Dangote Refinery between September 15 and 30, 2024, Premium Times reports. EDITOR’S PICKS Health, Planning Ministries Partner with AfDB on Sustainable System Project Shamim Ahmed: Student Ally of Bangladesh’s Ex-Prime Minister … Read more
The Nigerian National Petroleum Company Limited (NNPC) has yet to begin the planned supply of crude oil in naira to the Dangote Petroleum Refinery, which was scheduled to start on October 1, 2024, as of Thursday, October 3. EDITOR’S PICKS Health, Planning Ministries Partner with AfDB on Sustainable System Project Shamim Ahmed: Student Ally of … Read more
Experts in the petroleum industry have proposed that with effective government intervention, petrol from the Dangote Refinery could be sold for less than ₦600 per litre. The Crude Oil Refiners Association of Nigeria (CORAN) expressed optimism that local refineries, including Dangote’s, could reduce fuel costs if proper measures are implemented. EDITOR’S PICKS Police Arrest Man … Read more
The Nigerian National Petroleum Company Limited (NNPCL) has given major petroleum marketers the green light to start lifting premium motor spirit (PMS), commonly known as petrol, from the Dangote Petroleum Refinery. This decision aligns with the existing agreement between NNPCL and the refinery. Under the original agreement, NNPCL was designated as the exclusive distributor of … Read more
A senior official from the Independent Petroleum Marketers Association of Nigeria (IPMAN) has responded to reports that the Dangote Refinery will sell petrol to the Nigerian National Petroleum Company (NNPC) at ₦766 per litre. The official, speaking anonymously, explained that while the base price of ₦766 is set by the refinery, additional costs like transportation, … Read more
Reports have emerged that the Dangote Refinery is set to sell petrol at ₦766 per litre to the Nigerian National Petroleum Company Limited (NNPC). This follows the arrival of over 300 NNPC trucks at the refinery, as confirmed by NNPC spokesperson, Olufemi Soneye, on his X (formerly Twitter) handle on Saturday. The trucks are scheduled … Read more
The Federal Government has appointed the Nigerian National Petroleum Company Limited (NNPC) as the exclusive buyer of Premium Motor Spirit (PMS) from the Dangote Refinery. According to the agreement, marketers interested in purchasing the product will need to obtain it through NNPC’s trading company. EDITOR’S PICKS Japan’s Next PM Vows to Respect BOJ’s Autonomy Insecurity: … Read more
The Nigerian National Petroleum Corporation (NNPC) Limited has requested dedicated office space for around 10 of its employees at the Dangote Refinery as part of an agreement related to crude oil supply. During a Twitter Spaces event titled “Unlocking How Dangote Refinery Shapes Price,” Devakumar V.G. Edwin, Vice President of Oil & Gas at Dangote … Read more
The All Progressives Congress (APC) has said Nigerians should hold themselves accountable for the removal of the fuel subsidy by President Bola Tinubu. According to APC National Publicity Secretary Felix Morka, the president was simply implementing the provisions of the Petroleum Industry Act (PIA), which was passed by the National Assembly and abolished the subsidy. … Read more
The Trade Union Congress (TUC) has attributed the recent rise in fuel prices in Nigeria to the devaluation of the naira rather than the removal of fuel subsidies by President Bola Tinubu in May 2023. TUC President Festus Osifo, speaking on Channels Television’s Politics Today program, criticized the current administration for the naira’s devaluation, which … Read more