Category: Petroleum

Marketers Oppose Dangote’s Targets To Lower Cooking Gas Prices in Nigeria

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Marketers Oppose Dangote’s Targets To Lower Cooking Gas Prices in Nigeria

Nigerian business magnate Aliko Dangote has announced a bold plan to reduce the price of cooking gas (LPG) across the country. His refinery, located in Lekki, Lagos, has started producing large volumes of LPG, with a promise to make the product more affordable for everyday Nigerians. However, the announcement has sparked strong reactions from LPG…

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Petroleum, Power and Energy

Petrol Pump Prices Increase Across Marketers Outlets in Nigeria

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Petrol Pump Prices Increase Across Marketers Outlets in Nigeria

Nigeria’s petroleum product marketers and filling station owners have increased the price of Premium Motor Spirit also known as petrol on Friday. Reports from visit to major filling stations in the Federal Capital Territory, Abuja, on Friday, revealed that members of the Independent Petroleum Marketers Association of Nigeria, IPMAN, had hiked their fuel prices by…

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News, Petroleum

Crude Price Drops To $59 Per Barrel, Upsets 2025 Budget Implementation

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Crude Price Drops To $59 Per Barrel, Upsets 2025 Budget Implementation

The price of Crude oil has dropped to $59 for the first time since February 2021. Recent decline in crude oil prices follows an announcement by President Donald Trump on April 2, imposing sweeping global tariffs (including 14 percent on Nigeria) on all imports into the US. Moreso, on April 4, the Organisation of Petroleum…

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Finance and Economy, Petroleum

Petrol Prices Set To Go Up As FG / Dangote Crude For Naira Deal Crashes

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Petrol Prices Set To Go Up As FG / Dangote Crude For Naira Deal Crashes

The Federal Government’s failure to renew the Crude for Naira agreement between NNPC Limited and Dangote Refinery, along with rising global crude oil prices, is set to push petrol pump prices higher across Nigeria in April and beyond. The six-month agreement, which expired in March, was initially brokered by the government last year. It allowed…

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Petroleum, Trade and Commerce

Warri Refining And Petrochemicals Co Resumes Operations

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Warri Refining And Petrochemicals Co Resumes Operations

The 125,000 barrels per day Warri Refining and Petrochemicals Company, WRPC has commenced operations. The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, NNPCL, Mele Kyari, disclosed this during a tour at the facility on Monday. This is coming a month after the rehabilitation of the Port Harcourt refinery situated in Rivers…

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Petroleum

Marketers Hint Of Likely Hike In Petrol Pump Price

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Marketers Hint Of Likely Hike In Petrol Pump Price

Nigerians should brace up for an escalation of the present hardship in the country as Nigerian oil marketers have hinted that there may be a fresh Petrol price hike as tensions build up between Israel, Iran and the Middle East. The President of the Petroleum Products Retail Outlets Owners Association, PETROAN, Billy Gillis-Harry, disclosed this…

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Petroleum

NUPRC To Dangote: We Facilitated 29 Million Barrels Of Crude To Your Refinery

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NUPRC To Dangote: We Facilitated 29 Million Barrels Of Crude To Your Refinery

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disagreed and countered claims by the Dangote Petroleum Refinery and Petrochemicals and other players in the industry that it has been weak in the enforcement of the Domestic Crude Supply Obligation (DCSO) to local refineries. The NUPRC took the position following revelations that it has facilitated the…

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Petroleum

Marketers Accuse NNPC, DAPPMA Of Creating Fuel Scarcity

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Marketers Accuse NNPC, DAPPMA Of Creating Fuel Scarcity

The body of Petroleum marketers have blamed the current scarcity of fuel on the alleged shady deals between the Nigerian National Petroleum Company Limited, NNPCL, Depots and Petroleum Products Marketers Association of Nigeria, DAPPMA, and the regulatory agency, Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA. The marketers claimed that the deals involving the NNPC,…

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Petroleum

Dangote Refinery To Pump Out Petrol In August, Says Crude Supply Issues Over

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Dangote Refinery To Pump Out Petrol In August, Says Crude Supply Issues Over

President of the Dangote Refinery, Alhaji Aliko Dangote, says the refinery is now set to roll out its petrol from August 2024, having resolved its crude oil supply issues through the help of the Nigeria National Petroleum Company Limited (NNPCL) and the federal government. Dangote told senior journalists in Lagos on Sunday that the crude…

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Petroleum

Cooking Gas Price Rises, Aggravates Energy Crisis in Households

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Cooking Gas Price Rises, Aggravates Energy Crisis in Households

•12.5kg rises 38% to N14, 150 THE price of Liquefied Petroleum Gas, LPG, also known as cooking gas has risen to N14,150 for 12.5kg cyclinder. This is even as the price of aviation fuel also rose to between N1, 300 and N1, 500 per litre in the domestic market, from about N1, 000 during the…

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Petroleum, Power and Energy