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 …

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 …

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, …

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that Nigeria is now refining fuel locally from its own crude oil, NNPCL continues to calculate fuel prices based on outdated metrics such as landing costs.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 …

Oil marketers have said that the Nigerian National Petroleum Company Limited (NNPCL) portal used to purchase petrol has been shut against dealers, making it impossible for them to apply for the commodity purchase. They said marketers are still awaiting over 90 million litres of petrol from the state-owned company. This is valued at about N79 billion. Amid marketers’ complaints over …

The Technical Sub-Committee on Domestic Sales of Crude Oil in Local Currency, on Sunday, confirmed that the supply of crude in Naira by NNPC Limited (NNPCL) to the Dangote Petroleum Refinery is to begin on Tuesday, 1 October 2024. The committee had announced two weeks ago that the Federal Executive Council (FEC) approved the sale of crude to local refineries …

The Nigerian National Petroleum Company Limited (NNPCL) has stated that increasing crude oil production from the current 1.7 million barrels per day to three million barrels is achievable. Chief Corporate Communications Officer of NNPCL, Olufemi Soneye, announced this during a stakeholders’ engagement session with journalists covering the National Assembly on Saturday. He attributed the potential for increased production to the …

The landing cost of Premium Motor Spirit (PMS) (popularly called petrol), has dropped from about N1,130 last week to N981 per litre, according to data released on Thursday by the Major Energies Marketers Association of Nigeria. The petrol landing cost came down by over N140 as of 25 September 2024, occasioned the recent drop in global crude oil prices. Crude …

The House of Representatives  has urged the Federal Government to direct the Nigerian National Petroleum Corporation Limited (NNPCL) and the Dangote Refinery to allow independent marketers to lift fuel from the newly established refinery. The resolution was reached after a motion sponsored by Oboku Oforji, representing Yenagoa/Opokuma Federal Constituency, Bayelsa State, during plenary in Abuja. Oforji expressed concerns that only …

The Federal Government has stated that it will not interfere in the ongoing dispute between the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Refinery over the pump prices of Premium Motor Spirit (petrol). This was disclosed by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, while briefing State House correspondents at the Aso Rock …