Marketers have demanded direct access to Premium Motor Spirit (PMS, also known as petrol or fuel) from the Dangote Refinery, criticising the firm grip of NNPC Limited (NNPCL) on the market. This is as sources said Dangote Refinery would sell its petrol at N766 to NNPCL. The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Mr. …

Oil marketers have confirmed that they will start lifting Premium Motor Spirit (better known as petrol or fuel), from the Dangote Petroleum Refinery next week. While some revealed that they had started sending trucks to the Lagos-based multi-billion dollar plant to load products from Sunday, others stated that their tankers would hit the refinery any day from next week. It …

The Managing Director of ANOH Gas Processing Company Limited (AGPC), Engr. Effiong Okon has emphasised the company’s commitment to forming strong partnerships within the petroleum industry, especially with the Society of Petroleum Engineers (SPE). Hosting the leadership of the Lagos chapter of SPE in his Lagos office recently, Okon encouraged the society to collaborate through speaking engagements, technical presentations, and …

The Nigerian National Petroleum Company Limited (NNPCL) and the Dangote Petroleum Refinery are wrapping up discussions on crude oil sales by NNPCL to the Dangote refinery in naira and the buy-back of refined petroleum products from the $20 billion plant in naira. Parties in the deal may conclude discussions next week, the Vice President of Oil and Gas at Dangote …

The Dangote Petroleum Refinery has said that only three  percent of local oil marketers are purchasing refined petroleum products. During an X space organised by Nairametrics on Thursday, Vice President of Dangote Industries Limited (DIL), Mr. Devakumar Edwin said that, due to the low patronage, the refinery is forced to export 97 per cent of its refined products. Edwin alleged: “The …

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Wednesday said that a news report indicating that it had given the nod to the divestment deal between Shell and the Renaissance Consortium was baseless. In a statement by NUPRC’s Head of Public Affairs and Corporate Communication, Mrs. Olaide Shonola, the upstream regulator urged stakeholders and the general public to ignore the …

Brent crude oil price has dropped below $70 per barrel for the first time since December 2021. During trading hours on Tuesday, Brent crude, the global oil benchmark, dropped by 3.45 per cent to $69.36 per barrel. On the other hand, West Texas Intermediate fell by 3.86 per cent to $66.06 a barrel. According to a Bloomberg report, adverse economic statistics from the United States and …

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that the price of Premium Motor Spirit (PMS, popularly known as petrol or fuel) will determine if it will buy from NNPC Limited (NNPCL) or Dangote Petroleum Refinery. According to its National Publicity Secretary, Mr. Ukadike Chinedu, the association is prepared to buy from either Dangote or NNPCL depending on …

The Senate has deferred its investigation into the alleged sabotage in the petroleum industry, citing the need for more comprehensive consultations with stakeholders whose input and participation will add value to the conclusion of the investigative hearing. The upper chamber also cited legislative exigencies aimed at further deepening due diligence in conducting the investigative hearing as another reason for postponing …

The Federal Government has issued a licence to construct (LCT) Nigeria’s pioneering floating liquefied natural gas (FLNG) facility to UTM FLNG Limited. This marks a giant leap in the country’s energy sector. The issuance of the LTC by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) last Friday was part of a major fulfillment of President Bola Ahmed Tinubu’s …