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Tag: Oil marketers

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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 […]

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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 […]

Dangote Refinery loses N32.5bn after petrol price cut
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Dangote refinery sells diesel at N1,225/litre to local market

Dangote oil refinery started supplying petroleum products to the local market on Tuesday, a company executive and fuel marketing associations said, a major step in the country’s quest for energy independence. It cost Africa’s wealthiest man, Aliko Dangote $20 billion to build the world’s largest refinery in Ibeju Lekki and was completed after several years […]

Marketers consider fuel price reduction as PH refinery begins operations
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Marketers consider fuel price reduction as PH refinery begins operations

Melvin Onwubuke The Independent Petroleum Marketers Association of Nigeria and the Major Energy Marketers Association of Nigeria have projected a marginal reduction in the pump price of Premium Motor Spirit, popularly called petrol, produced by the Port Harcourt Refining Company once the plant begins operations next month. In addition, IPMAN and MEMAN called on the […]

NNPC, First E&P provide free healthcare in host communities
Oil and Gas

Why oil marketers claim NNPCL has monopoly over PIA 

Oil marketers have questioned Nigerian National Petroleum Company Limited’s dominance in petrol importation, claiming that it violates the Petroleum Industry Act. According to The Punch, this was said at the press conference held in Lagos following the 2023 Expo of the Oil Trading Logistics Africa Downstream Energy Week. According to the CEO of 11 Plc and […]

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