NNPCL reduces petrol price to ₦965 in Abuja. Independent marketers maintain higher prices, ranging from ₦1,030 to ₦1,070. Port Harcourt Refinery operates fully, ensuring domestic fuel supply, says NNPCL. The Nigerian National Petroleum Company Limited (NNPCL) has slashed the retail price of premium motor spirit (PMS), commonly known as petrol, to ₦965 per litre in … 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
The Nigerian National Petroleum Company Limited (NNPCL) has announced securing a $1bn crude-backed loan to facilitate the operations of the 650,000 barrels-per-day Dangote Petroleum Refinery and address liquidity challenges. Chief Corporate Communications Officer, Olufemi Soneye, revealed this during the Energy Relations Stakeholders Engagement in Abuja on Monday. EDITOR’S PICKS PDP Declares Ethiope East Federal Seat … Read more
A new per-litre price of Premium Motor Spirit (PMS), commonly known as petrol, has been introduced across Nigerian National Petroleum Company Limited (NNPCL) retail outlets in the Federal Capital Territory (FCT), Abuja. EKO HOT BLOG reports that Journalists observed that the price of petrol had dropped from ₦1,060 to ₦1,040 per litre, reflecting a ₦20 … Read more
The landing cost of Premium Motor Spirit (PMS), also known as petrol, in Nigeria has declined to ₦900.28 per litre as of Thursday, a drop of ₦36 or 3.62% from the previous week’s cost of ₦936.75 per litre. Data from the Major Energies Marketers Association of Nigeria (MEMAN) further revealed earlier dips this week, reaching … Read more
Organized Labour Insists on NLNG Model for Refinery Privatization Organized Labour has reiterated its opposition to the outright sale of public refineries, proposing instead a privatization model similar to the Nigerian Liquefied Natural Gas (NLNG) structure, where the private sector holds a majority stake while the government, workers, and host communities retain minority stakes. EDITOR’S … 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 Senate plenary on Tuesday saw a heated confrontation between Senate President Godswill Akpabio and Senator Ahmed Aliyu Wadada (SDP, Nasarawa West) over claims regarding the operational status of the Port Harcourt refinery. EKO HOT BLOG reports that the Nigerian National Petroleum Company Limited (NNPCL) had announced last week that the refinery had resumed operations. However, … Read more
The President of the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, Festus Osifo, has confirmed that the Port Harcourt Refinery has resumed production. Osifo made this disclosure while addressing newsmen at the end of the National Executive Council, NEC, meeting on Tuesday in Abuja. He said that the refinery rehabilitation was made … Read more
The Port Harcourt Refining Company (PHRC) has scaled down its operations to enhance the facility while resuming limited product distribution, including Premium Motor Spirit (PMS), kerosene, and diesel. This development comes as independent petroleum marketers challenge the proposed price of N1,030 per litre for petrol from the refinery, citing concerns over affordability compared to alternatives … Read more
The Rivers State chapter of the All Progressives Congress (APC) has elected Chief Tony Okocha as its new chairman. Okocha, who previously served as the party’s Caretaker Committee Chairman, was elected unopposed during the state delegate congress held on Saturday in Port Harcourt, the capital of Rivers State. The election, conducted via voice vote, was … 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 Nigeria National Petroleum Company Limited, NNPCL, says the Port Harcourt Refining Company, PHRC, has not yet begun bulk sales, stating that essential processes are still being finalized. The Chief Corporate Communications Officer of NNPCL, Olufemi Soneye, made this known in a statement on Friday. According to him, the products the refinery current sells originate … Read more
The Nigeria National Petroleum Company Limited (NNPCL) has urged Nigerians to dismiss claims discrediting the operational status of the Port Harcourt Refinery. In a statement released on Wednesday, the Chief Corporate Communications Officer of NNPCL, Olufemi Soneye, denounced reports accusing the company of blending Crack C5 from Indorama Company with Naphtha to sell as refined … Read more
Stakeholders in Nigeria’s oil and gas industry have expressed optimism over the commencement of production at the Port Harcourt Refining Company, highlighting its potential to drive competition, reduce the pump price of petroleum products, and create jobs for Nigerians. On Tuesday, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele … Read more
Former presidential candidate of the Labour Party (LP) in the 2023 election, Peter Obi, has urged the federal government to prioritize transparency and accountability in managing Nigeria’s vital oil resources. This comes as the Port Harcourt Refinery officially resumes production after undergoing rehabilitation. Reacting to the development, the former governor of Anambra State took to … Read more
The Nigerian National Petroleum Corporation Limited, NNPCL, has urged Nigerians to focus on the progress made in bringing the Port Harcourt refinery online. This is contained in a statement by the company’s spokesperson Olufemi Soneye, on Tuesday, asking Nigerians to steer clear of what it termed malicious claims that the NNPCL is not producing refined … Read more
The Nigerian National Petroleum Company Limited (NNPC Ltd) has expressed gratitude to Nigerians for their support following the safe restart of the Old Port Harcourt Refinery, which processes 60,000 barrels per day. EDITOR’S PICKS Japa: Russia Opens Doors to Migrants Amid Workforce Shortage Crisis Erupts at Celestial Church of Christ in Lagos Over N5m Donation … 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