The Nigerian National Petroleum Company Limited (NNPCL) has agreed to sell Premium Motor Spirit (petrol) to members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) at N995 per litre. This followed the intervention of the Department of State Services (DSS) in the controversy between the two parties. The National Vice President of IPMAN, Hammed Fashola, told The PUNCH that …

As Nigerians struggle with the high cost of petrol, the price of Liquefied Petroleum Gas (LPG), also known as cooking gas, has also increased to N1,500/kg. The Managing Director/Chief Executive Officer of NIPCO Plc, Suresh Kumar said the Dangote refinery and other domestic refineries would bring down the price of cooking gas, expressing concerns that over 60 per cent of …

The Independent Petroleum Marketers Association of Nigeria (IPMAN) is poised for talks with Dangote Petroleum Refinery between Tuesday and Wednesday to finalise agreements on the cost and lifting of petrol from the plant. It was learnt on Sunday that the Petroleum Retail Outlet Owners Association of Nigeria (PETROAN) had been asked by the $20 billion Lekki-based refinery to resend its …

Amid feedstock challenges, the Dangote Group, owners of the Dangote Petroleum Refinery, will commence crude oil production in the first quarter of next year. A senior official of the $20 billion Lekki-based refinery confirmed this on Saturday while reacting to an earlier report by S&P Global Commodity Insights. “Yes, I saw the S&P report; our company is truly going to …

NNPC Limited (NNPCL) has agreed to permit oil marketers, who operate under the auspices of the Independent Petroleum Marketers Association of Nigeria (IPMAN), to commence the lifting of Premium Motor Spirit (petrol) from its depot at a lower price. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has also committed to issuing import and off-taker licenses to the oil …

As Nigeria embarks on its 2024 Licensing Round, a combination of robust natural resources, competitive regulatory framework and strategic incentives has created a favourable environment for investors wishing to take part in the country’s oil and gas sector. This was contained in a statement on Saturday by the Head of Public Affairs and Corporate Communication of the Nigerian Upstream Petroleum …

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has raised the alarm over likely fuel scarcity despite the increasing costs of petroleum products. The association said there appeared to be disagreement between members of the association and the management of the Nigeria National Petroleum Company Limited (NNPCL). Speaking with journalists in Ilorin on Friday, the IPMAN National Public Relations Officer, …

The Federal Government has granted permission to petroleum marketers to lift petrol directly from the Dangote refinery without going through the Nigerian National Petroleum Company Limited. This confirms the speculation that the NNPC will no longer be the sole off-taker of the Dangote fuel. In a statement on Friday, the Minister of Finance and Chairman of the Naira-crude sale implementation …

The Trade Union Congress (TUC) on Thursday demanded the return of petrol prices to what they were as of June 2023. At a press briefing in Abuja, TUC National President, Mr. Festus Osifo advised the government to provide foreign exchange to Dangote Refinery. On Wednesday, retail stations of NNPC Limited (NNPCL) raised the price of petrol to N1,030 from N897/litre …

NNPC Limited (NNPCL) is being unfair to Nigerians. Despite the fact that Nigeria is now refining fuel locally from its own crude oil, NNPCL continues to calculate fuel prices based on outdated metrics such as landing costs. This practice raises concerns, as there are no longer any costs associated with fuel importation, shipping, or landing fees. With locally sourced crude …