The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has commended the Federal Government for placing a ban on the exportation of crude oil allocated to local refineries. Dr Billy Gillis-Harry, PETROAN’s National President, gave the commendation on Wednesday while reacting to the development. Gillis-Harry urged the Nigerian...
Crude oil
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has warned that it will deny export permits for crude oil cargoes intended for domestic refining, if oil companies do not fulfill their domestic crude obligations. The Commission Chief Executive (CCE), Mr Gbenga Komolafe, insisted that any changes to cargoes designated for...
By OLA MODUPE,Lagos – Dangote Petroleum Refinery has reduced the ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly known as petrol, from N950 to N890, effective from Saturday, 1st February 2025. The Group Chief Branding and Communications Officer, Dangote Petroleum Refinery, Mr Anthony Chiejina, confirmed this development in...
Sen. Ned Nwoko, has said that the Delta North Senatorial District, had yet to feel the impact of the International Oil Companies (IOCs) and Local Oil Companies (LOCs) operating in the region. Nwoko, who represents Delta North Senatorial District, said this during an interview with the News Agency of...
A Federal High Court in Abuja on Thursday, fixed Feb 5 to hear the Nigeria National Petroleum Company Limited (NNPCL)’s preliminary objection against a suit filed by Dangote Petroleum Refinery and Petrochemicals FZE over oil import licence dispute. Justice Inyang Ekwo fixed the date after counsel to Dangote Refinery,...
The Bukuma community in Rivers has decried the alleged refusal of Nigerian National Petroleum Corporations Limited’s (NNPCL) to implement a 2021 court judgement on cluster issue. The Paramount Ruler of Bukuma, King Precious Elekima, made this known during an interview with the News Agency of Nigeria (NAN) in Port...
President Bola Tinubu and the Minister of the Federal Capital Territory (FCT), Nyesom Wike, on Tuesday, held a closed-door meeting with a delegation of Ogoni leaders led by Governor Siminalayi Fubara of Rivers State. Also present at the meeting was the Chief of staff to the President, Femi Gbajabiamila;...
By OLA MODUPE, Lagos – Dangote Refinery has explained that the recent adjustment in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, is directly attributed to the increase in global crude oil prices. It would be recalled that on the 17th of January, 2025, Dangote...
The Federal Government has announced plans to collaborate with the Nigerian Navy to achieve its target of 3 million barrels per day (bpd) in crude oil production by 2025. Nigeria’s current output stands at approximately 1.8 million bpd, a significant increase from the 1.4 million bpd recorded in 2023....
An Oil and Gas Industry Consultant, Dr Maurice Ibe, has tasked the Nigerian National Petroleum Company Limited (NNPC Ltd.) to ensure that the four government refineries are functioning at full capacity. Ibe, who is the Group Executive Chairman of the Benham Group, made this known in an interview with...
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said the price of petrol will drop to N935 per litre by Monday in view of Dangote Refinery’s new arrangement. IPMAN said the new price was necessitated by the reduction in Dangote Refinery’s fuel ex-depot price and uniform arrangement, which...
A coalition of Niger Delta groups has described Shell UK’s planned sale of its Nigerian subsidiary without consulting host communities as unhealthy and unacceptable. The women’s position was presented by Mrs Emem Okon of Kebetkache Women Development and Resource Centre during a protest in Yenagoa on Friday. Okon led...
By OLA MODUPE, Lagos- The Dangote Refinery has come out to clarify the details surrounding the Nigerian National Petroleum Company Limited’s (NNPCL) $1 billion investment in the refinery. The Group Chief Branding and Communications Officer at Dangote Group, Anthony Chiejina, said in a statement on Wednesday that the NNPCL’s...
The Port Harcourt Refining Company (PHRC) has not yet commenced bulk sales or opened its purchase portal, as essential processes are still being finalised. The Nigerian National Petroleum Company Limited (NNPC Ltd.) has said an official announcements will be made if and when price reviews on the products occur....
By DAVID IORJA, Abuja – President Bola Tinubu has extended his heartfelt congratulations to the Nigeria National Petroleum Company Limited (NNPCL) on the successful revitalization of the Port Harcourt refinery, marked by the official commencement of petroleum product loading on November 26, 2024. The President’s congratulatory message is contained in...
President Bola Tinubu, on Tuesday, commended the Implementation Committee on the Naira-based sales of crude oil and refined products and asked the members to resolve any teething problems. In a review meeting at the State House, Abuja, the President said using the Naira was conceived to remove the exchange...
Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, on Tuesday, said the sale of crude in naira to local refiners had set the Nigerian economy on the path of industrialisation and modernisation. Edun, chairman of the committee, said this while addressing State House correspondents after...
Dangote Group is looking to start production at its two Nigerian oil assets in the fourth quarter of 2024, after enduring months of crude supply woes, a report by S&P Global Commodity Insights has said. The report quoting company sources said Dangote is currently seeking a floating production, storage...
Nigeria should not be importing crude oil to meet domestic refinery feedstock needs, says the Independent Petroleum Producers Group (IPPG). Its Chairman, Mr Abdulrazaq Isa, said this at the Crude Oil Refinery Owners Association of Nigeria (CORAN) Summit in Lagos. The Summit has the theme, “Making Nigeria a Net...
The Federal Government says it will begin crude oil sales in Naira to Dangote Refinery and others in October. This is according to a statement by the Director Press and Public Relations, Federal Ministry of Finance and Economic Planning, Mr Mohammed Manga in Abuja on Monday. Manga said that...