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Oil and Gas

Unstable petrol prices endangering businesses, oil marketers warn

Oil marketers under the aegis of the Petroleum Products Retail Outlets Association of Nigeria has raised concerns over the impact of unstable petrol prices on their businesses nationwide. This follows the ongoing price war between NNPC Limited and Dangote Petroleum Refinery, with both companies reducing pump prices at their outlets and for partners. This was […]

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Oil marketers threaten strike over N100bn debt, issue ultimatum

The Depot Chairmen Forum of the Independent Petroleum Marketers Association of Nigeria has issued a seven-day ultimatum to the Nigerian Midstream and Downstream Petroleum Regulatory Authority to settle outstanding bridging claims exceeding N100 billion. The forum, in a communiqué issued in Abuja by its Chairman, Yahaya Alhassan, warned that if the NMDPRA fails to comply, […]

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SON, NMDPRA responsible for certifying imported petrol – Oil Marketers

The Standards Organisation of Nigeria and the Nigerian Midstream and Downstream Petroleum Regulatory Authority are responsible for certifying imported Premium Motor Spirit, commonly known as petrol, according to oil marketers. This statement came in response to claims by Dangote Petroleum Refinery that off-spec petroleum products were being imported into the country by dealers. On Tuesday, […]

Dangote Refinery loses N32.5bn after petrol price cut
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Oil marketers drag Dangote to court for opposing fuel importation

Three oil companies, Matrix Petroleum Services Limited, A.A. Rano Limited, and AYM Shafa Limited, have approached the Federal High Court in Abuja with a legal request to prevent the Nigeria Midstream and Downstream Petroleum Regulatory Authority from reviewing or withdrawing their import licenses. The companies argue that such actions would undermine energy security and disrupt […]

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Oil marketers may sell below Dangote’s price – Report

Oil marketers announced that the price of petrol from the Dangote Petroleum Refinery ranges from N1,015 to N1,028 per litre, depending on the quantity purchased. In response on Friday, dealers plan to import petrol and sell it below both the Dangote price and that of the Nigerian National Petroleum Company Limited, according to The Punch. […]

News

Nigerian marketers import 123m litres of petrol

No fewer than four vessels carrying imported Premium Motor Spirit, commonly known as petrol, arrived at seaports along Nigeria’s borders between October 18 and October 20, according to Nigerian Port Authority documents. The document from the NPA revealed that approximately 123.4 million liters of PMS were berthed at two seaports to enhance national fuel supply, […]

NNPCL moves to sell shares, seeks strategic partners
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NNPC remains exclusive buyer of Dangote petrol – Marketers

The Nigerian National Petroleum Company Limited remains the exclusive off-taker of Premium Motor Spirit from the Dangote Petroleum Refinery, despite the Federal Government’s recent directive allowing other oil marketers to begin loading petrol from the facility. This situation continues to raise questions about market competition and supply dynamics in Nigeria’s oil sector. Oil marketers indicated […]

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NNPC begins N15bn refund to oil marketers

Oil marketers have announced that the Nigerian National Petroleum Company Limited has initiated the refund process for the N15 billion owed to its members. This development comes as the Independent Petroleum Marketers Association of Nigeria previously reported that its members had made these payments to NNPC for petrol supply, according to Arise News. Despite the […]

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Oil marketers urge FG for clarity on Naira-for-Crude initiative

Oil marketers and domestic refiners are calling on the Federal Government to provide detailed information regarding the recently announced naira-for-crude initiative, which officially began on October 1, 2024. This initiative, as outlined by the Ministry of Finance, allows for the sale of crude oil and refined products in naira, following a directive from the Federal […]

News Oil and Gas

Direct lifting of product from Dangote will crush pricing – Oil marketers

Oil marketers have assured Nigerians of a potential decline in the prices of Premium Motor Spirit or petrol as they prepare to begin direct product lifting from the Dangote Refinery. This reassurance follows a recent spike in prices attributed to the Nigerian National Petroleum Company Limited’s commencement of product lifting from the refinery. Currently, petrol […]

News

Fuel scarcity: Marketers blame bad roads for distribution delays

The President of the Natural Oil and Gas Suppliers Association of Nigeria, Mr Benneth Korie, has identified inadequate road infrastructure as a key factor contributing to delays in petroleum product distribution. Korie made this disclosure at a press briefing in Abuja on Wednesday, according to The Punch. Korie highlighted the pressing need for improvements in […]