Nigerian National Petroleum Company Limited (NNPCL), has reduced its retail price of Premium Motor Spirit (PMS). DAILY POST observed on Saturday that NNPCL retail outlets along Kubwa Express Way, Zone 4 Abuja, and Gudu, all in the Federal Capital Territory, have adjusted their fuel pump price to N910 per litre from N935. This showed that the state-owned firm reviewed its …

Crude Oil Refinery Owners Association of Nigeria (CORAN) has said that the price of Premium Motor Spirit (petrol) can drop below N400 per litre with the current crash in crude oil prices. CORAN argued that there is no reason petrol should not be sold at N350 per litre if crude prices eventually fall to $50 per barrel. CORAN said petrol …

Some oil marketers are beginning to change the logo of NNPC Limited (NNPCL) on their filling stations, as the dealers have reportedly dumped the franchise deals with the company due to the stiff competition in the prices of refined products in the downstream arm of the oil sector. The PUNCH gathered that many others are considering the move, particularly those …

President of Dangote Group, Aliko Dangote, has explained that the reduction in the price of petrol from his refinery was in response to market forces. Africa’s richest man disclosed this during an interview in an Arise TV documentary posted on YouTube and obtained by our correspondent on Wednesday. According to him, the move was to protect the interests of the …

Dangote Petroleum Refinery has said that has reduced the price of its Premium Motor Spirit (PMS) (popularly known as petrol) to N899.50 per litre, as against N970. In a statement on Thursday, Group Chief Branding and Communications Officer of the oil major, Mr. Anthony Chiejina said: “Dangote Petroleum Refinery has reduced the price of its Premium Motor Spirit (PMS) product …

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged Dangote Refinery to consider reducing its ex-depot price from N970 per litre since the estimated cost of landing petrol on Nigeria’s shores has dropped to N900.28 per litre. Last 29 July, the Federal Executive Council (FEC) endorsed President Bola Tinubu’s proposal for the sale of crude to local refineries in …

Crude oil refiners and other players in the downstream sector have stated that the dollar charges on locally refined Premium Motor Spirit (PMS), popularly called petrol, coupled with the cost of importing crude are major reasons for the high cost of the product when compared to imported PMS. Data obtained from the Major Energies Marketers Association of Nigeria on Tuesday …

The Dangote Petroleum Refinery says it has reduced the price of its Premium Motor Spirit from N990 per litre to N970/litre. It was reported that this is the amount marketers would buy the product from the refinery. In a statement released on Sunday, the Group Chief Branding and Communications Officer of the Dangote Group, Anthony Chiejina, said the reduction was …

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that over 30,000 of its members are set to buy Premium Motor Spirit (PMS), popularly called petrol, from the Dangote Petroleum Refinery in bulk. IPMAN also said that the price of petrol from the $20 billion Lekki-based plant was N940/litre and N990/litre when purchased using ships and trucks, respectively. The …

NNPC Limited (NNPCL) has stated that its Group Chief Executive Officer (GCEO), Mallam Mele Kyari is not responsible for the hike in the prices of the Premium Motor Spirit (PMS), popularly known as petrol. On Tuesday, some protesters stormed Abuja headquarters of the oil giant, demanding Kyari’s resignation over the increase in the prices of petrol nationwide. Reacting to the …