The Independent Petroleum Marketers Association of Nigeria has refuted claims that it opposed the recent reduction in Premium Motor Spirit (petrol) prices by Dangote Refinery and the Nigerian National Petroleum Corporation Limited. A former presidential aide Reno Omokri, in a post on his verified X (formerly Twitter) handle on Saturday night, alleged that IPMAN was protesting against the Federal Government …

NNPC Limited (NNPCL) has strongly refuted claims alleging the termination of the Naira-for-Crude agreement with Dangote Refinery. NNPCL emphasised that it has consistently supplied the refinery with a total of 84 million barrels of crude oil since the refinery began its operations in 2023. In a statement on Monday, the NNPCL Chief Corporate Communications Officer, Mr. Olufemi Soneye stated that …

The Nigerian National Petroleum Company Limited has taken a step to boost domestic gas utilisation, signing a 20-year Gas Sale and Purchase Agreement with Ssonic Petroleum Limited. The agreement, executed on March 6, 2025, will see NNPCL’s subsidiary, NNPC Gas Marketing Ltd, and its partner, NIPCO Gas Ltd, supply 80 million standard cubic feet per day of natural gas to …

An economist, Paul Alaje has predicted the ongoing price war between the Dangote Refinery and NNPC Limited (NNPCL) will ‘erode abnormal profit’ enjoyed by capitalists. ‘You may want to call it a price war but in economics, when a duopoly fights, it is the best for the populace because they will drive themselves to neutral profits’, Alaje said on Channels …

Some retail outlets belonging to the Nigerian National Petroleum Company Limited have adjusted the petrol pump price to N860 per litre. It was observed that while there is no official communication from the NNPCL Retail yet, some stations in Lagos adjusted their pumps to N860 per litre, down from N945 as of Sunday. This comes a few days after the …

NNPC Limited on Tuesday disclosed that its subsidiary, NNPCL Shipping has signed a joint venture agreement with Stena Bulk, and Caverton Marine Limited for the shipping of various petroleum products across the industry. According to a statement by the company’s Chief Corporate Communications Officer, Mr. Olufemi Soneye, the deal would create a new tanker operation serving Nigeria and West Africa’s …

The House of Representatives Public Accounts Committee, on Tuesday, initiated an investigation into the outstanding debts owed to the Federation Account by the Nigerian National Petroleum Company Limited (NNPCL) and oil companies. The investigative hearing, chaired by the sub-committee chairman, Akinlade Isiaq, followed queries issued by the Office of the Auditor-General for the Federation regarding NNPCL’s financial obligations. The report …

Officials of the Dangote refinery have said the controversial fuel allegedly bought from a filling station belonging to the Nigerian National Petroleum Company Limited (NNPCL) did not emanate from the refinery. The officials, who spoke to Sunday PUNCH on condition of anonymity, said Nigerians testified to the quality of the Premium Motor Spirit (PMS) from the Dangote refinery because they …

The Nigerian National Petroleum Company Limited (NNPCL) has deducted a sum of $525.09 million from its remittances to the Federal Inland Revenue Service (FIRS) as part of the Road Infrastructure Tax Credit Scheme (RITCS). This is according to a report from a Federation Account Allocation Committee (FAAC) Post-Mortem Sub-Committee meeting held in January 2025 and seen by Sunday PUNCH. According …

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 …