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Tag: Oil marketers

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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Marketers suspend fuel imports, await FG’s promise on refineries

Oil traders have postponed their intentions to import Premium Motor Spirit, more commonly known as petrol, as they eagerly await the start of local production of refined petroleum products by Nigeria’s refineries in December of this year. According to The Punch, operators in the downstream oil industry claimed that, given the difficulty in obtaining the […]

Marketers secure foreign investor support for 30,000 petrol stations
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Marketers secure foreign investor support for 30,000 petrol stations

The development of roughly 30,000 petrol outlets across the country has been approved by domestic and foreign investors, oil marketers said on Sunday. The Punch reported that the Federal Government’s decision to deploy approximately 11,000 vehicles to run on compressed natural gas as part of measures to soften the removal of fuel subsidies led to the […]

Oil marketers push for fuel subsidy removal suspension
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Oil marketers push for fuel subsidy removal suspension

  Following importers’ difficulty to obtain US dollars and the effects this was having on businesses, oil marketers recommended President Bola Tinubu on Tuesday to gradually soften the withdrawal of subsidies on Premium Motor Spirit, also known as petrol. This occurred as Tinubu ruled against raising the price of fuel and reversing the fuel subsidy. […]

Marketers predict more fuel queues due to pipeline vandalism
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Oil marketers predict further fuel price hike

Although the Nigerian National Petroleum Company Limited and other oil marketers have not declared an increase in the price of petrol, they have acknowledged that the lack of foreign currency and the hike in the price of crude oil were the two main reasons influencing the price of PMS. The naira’s depreciation against the US […]

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Local refining to cut petrol prices – Marketers

Oil marketers claim that once local refining is fully operational, the cost of petrol will be reduced by at least N70 a liter. The Punch reported that this was stated by the National Controller Operations for the Independent Petroleum Marketers Association of Nigeria, Mike Osatuyi when discussing the advantages of the Federal Government’s investment in working refineries. […]

Local refining will cut down petrol price by N70/ltr – Marketers
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Local refining will cut petrol price by N70/ltr – Marketers

      Oil marketers, have stated that the implementation of local refining is projected to result in a reduction of at least N70 per litre in the price of fuel once it reaches full operational capacity. According to the National Controller Operations of the Independent Petroleum Marketers Association of Nigeria,Mike Osatuyi, investing in functional […]