The federal government’s plan to introduce a 5 percent surcharge on refined petroleum products — including petrol and diesel — has been met with swift and loud opposition from industry stakeholders, civil society groups, and political figures. The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has warned that the tax could push many … Read more
Ardova Plc partners with Dangote Refinery for competitive fuel pricing. Deal aims to boost efficiency and competition in Nigeria’s oil sector. Dangote Refinery and MRS offer petrol at ₦935 per litre nationwide. Ardova Plc, one of Nigeria’s leading integrated downstream oil and gas companies, has signed a bulk purchase framework with Dangote Refinery to ensure … Read more
The Warri Refinery restarted operations at 60% capacity. It produces key products like AGO, SRK, and LPG, boosting Nigeria’s energy security. NNPCL’s efforts in reviving the refinery are commended for strengthening petroleum supply. The Senior Special Assistant to President Bola Tinubu on New Media, O’tega Ogra, has announced that the Warri Refinery officially restarted operations … Read more
Warri Refinery resumes operations with ongoing rehabilitation, confirms NNPCL CEO. The facility currently operates below full capacity but shows significant progress. Mele Kyari assures Nigerians of real progress in refinery rehabilitation efforts. The Warri Refining and Petrochemicals Company (WRPC), with a refining capacity of 125,000 barrels per day, has resumed operations, marking a significant milestone … Read more
NNPCL confirms Port Harcourt Refinery is fully operational and functional. Media reports of refinery shutdown are false, says NNPCL spokesperson. Fuel loading operations continue as planned despite circulating shutdown rumors. The Nigerian National Petroleum Company Limited (NNPCL) has refuted media reports suggesting the shutdown of the Port Harcourt Refinery, affirming that the facility remains fully … Read more
The Port Harcourt Refinery has halted operations less than a month after it seemingly resumed production. On Thursday, December 19, 2024, it was observed that the facility had ceased lifting Premium Motor Spirit (PMS), leaving its previously bustling loading bay deserted. This development comes after initial fanfare surrounding the refinery’s reopening following a $1.5 billion … Read more
Dangote Refinery has officially commenced the export of Premium Motor Spirit (PMS) to Cameroon, marking its first-ever international shipment and a significant milestone for Africa’s largest oil refinery. EKO HOT BLOG reports that this groundbreaking export, announced in a statement by Dangote Refinery on Wednesday, results from a strategic partnership with Neptune Oil, a leading … 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 (NNPC) Ltd. has fulfilled its commitment to re-stream the Port Harcourt Refining Company (PHRC), marking the start of crude oil processing and the distribution of petroleum products to the market. This milestone was announced in a statement on Tuesday by the Chief Corporate Communications Officer of NNPC Ltd., Olufemi Soneye. … Read more
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has accused Dangote Refinery of trying to stifle competition in the downstream sector. This allegation follows Dangote Refinery’s claims that marketers were criticizing its petrol pricing in an effort to import cheaper, potentially lower-quality products. On Sunday, Dangote Refinery announced that it sells petrol at … Read more
Dangote Refinery has clarified reports regarding a court case filed against the Nigerian National Petroleum Corporation Limited (NNPCL) and five other companies over the importation of petroleum products. The five other companies involved are Aym Shafa Limited, A. A. Rano Limited, T. Time Petroleum Limited, 2015 Petroleum Limited, and Matrix Petroleum Services Limited. EDITOR’S PICKS … Read more
The Arewa Consultative Forum (ACF) commends President Bola Tinubu for directing NNPC to sell crude oil to local refiners in naira, urging affordable petroleum prices in return. EKO HOT BLOG reports that the Arewa Consultative Forum (ACF) has praised President Bola Tinubu for directing the Nigerian National Petroleum Company Limited (NNPC) to sell crude oil to … Read more
Independent Marketers Hike Petrol Prices Wide Price Gap Between Major and Independent Sellers Supply Breakdown at NNPC Blamed for Price Surge Eko Hot Blog reports that despite an improvement in fuel supply, independent marketers have shockingly increased petrol prices nationwide. In contrast, major marketers have maintained relatively stable prices, creating a significant price disparity. Editor’s … Read more
EKO HOT BLOG reports that Former Bauchi State Governor Isa Yuguda has contradicted President Bola Tinubu’s previous statement regarding the elimination of fuel subsidy, asserting that the federal government continues to subsidize petroleum products. This revelation adds to the ongoing discussions surrounding the economic implications of subsidy removal in Nigeria. President Tinubu had announced the cessation … Read more
Eko Hot Blog reports that the Nigerian National Petroleum Company (NNPC) Limited has fulfilled its pledge of achieving the mechanical completion of rehabilitation work on Area 5 Plant of the Port Harcourt Refining Company (PHRC). This was contained in a press statement issued on Thursday by NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye. Editor’s Pick … Read more
Customs Impounds Over 100 Trailers of Foreign Rice, Palm Oil, Others In Ogun EKO HOT BLOG reports that Nigeria Customs Service (NCS) said it impounded 101 trailers of foreign parboiled rice, among other contraband goods within the last 13 months. The Comptroller of Customs in charge of Ogun 1 Area Command, Dera Nnadi, disclosed this while … Read more
The Petroleum Products Pricing Regulatory Agency, PPPRA, has stated it’s positioned on petrol price control. According to the agency, if the likes of the Central Bank of Nigeria (CBN) can regulate all banks, financials sectors under its supervision, and as well the Nigerian Communications Commission, NCC, could regulate the telecommunications, it shouldn’t be a problem … Read more
The Nigerian National Petroleum Corporation (NNPC) has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS). PMS has been reduced from N113.28k per litre to N108.00K per litre across all its products loading facilities. This was contained in a statement issued by the corporation’s spokesman, Dr. Kenny Obateru in Abuja on Wednesday. … Read more