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Oil and Gas

Tag: Oil marketers

Nigeria has best return on investments, Tinubu tells Indian investors
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Tinubu meets oil marketers over subsidy removal

Juliet Buna President Bola Tinubu is meeting with major oil marketers at the Aso Rock Villa in Abuja. According to Channels, the oil marketers were led by Governor Dapo Abiodun of Ogun State. The President’s meeting with the oil marketers comes amid the controversy and protests trailing the removal of subsidy on Premium Motor Spirit […]

FG shuts down unlicensed fuel marketers
Oil and Gas

FG shuts down unlicensed fuel marketers

  The Federal Government declared on Monday that no unlicensed petroleum product dealer would be permitted to load items starting on June 1, 2023, and that such enterprises would be shut down starting on that date. According to The PUNCH, the government issued the warning in Abuja through the Nigerian Midstream and Downstream Petroleum Regulatory […]

Subsidy: Oil marketers request transition plan against handing over 
News

Subsidy: Oil marketers request transition plan against handing over 

  Oil marketers have requested that the government of Nigeria establish a plan to transition away from fuel subsidy following handing over in May 29th. The Managing Director, CEO of 11 Plc and previous Chairman of the Major Oil Marketers Association of Nigeria, Tunji Oyebanji, made this recommendation while discussing the Nigerian International Energy Summit […]

Petrol pump
Business

Fuel: N195/litre difficult to enforce, marketers tell FG

Oil marketers have said that it is difficult to enforce the approved N195/litre price on all filling stations. This was after the Independent Petroleum Marketers Association of Nigeria disclosed  on Wednesday that Nigerian National Petroleum Corporation had promised that it had reserved  about 140 million litres of petrol for its association members to address fuel […]

FG spends N40.1bn daily as fuel subsidy hits N600 per litre – Operators
News

PMS at N165/litre not sustainable – Oil marketers

The Association of Oil Marketers in Nigeria on Wednesday said that the sale of Premium Motor Spirit also known as petrol is not sustainable at N165/litre. The Independent Petroleum Marketers Association of Nigeria and the Natural Oil and Gas Suppliers had earlier pushed for the upward review of petrol price, as some members of IPMAN […]

Nigerians bought petrol N191.65 per litre September- NBS
News

Marketers, depots clash over 16.6bn litre fuel diversion

Allegations of diversion of 16.6 billion litres of fuel to neighbouring nations have sparked among between oil marketers and depot owners. A top official of the Depots and Petroleum Products Marketers Association of Nigeria, who craved anonymity, alleged that fuel scarcity was partly due to the diversion of products to neighbouring countries by marketers. According […]

Tweeps knock FG as fuel scarcity leaves commuters stranded
News

Fuel queues worsens as marketers sell N175/litre, plan strike

Against the stipulated N165/litre, some filling stations on Wednesday sold Premium Motor Spirit at 175/litre, even as the oil marketers insist on embarking on a nationwide strike if the government fails to pay them. Some outlets in Lagos that sold the commodity at N169/litre last week had to adjust their pumps on Wednesday, as they […]

Buhari unveils SDG financing framework
News

FG scoops over N2tn from marginal oil fields sale

A new report has revealed that the Federal Government may have raked at least N2tn from the 2020/2021 marginal oil field bid rounds. In the Nigerian context, marginal fields include fields with reported reserves and production potential, which are however deemed marginal for a variety of reasons. Notably, marginal fields exist under current Oil Mining […]

Oil production: Angola, Libya overtake Nigeria, says OPEC
Oil and Gas

Nigeria repays five oil firms’ $3.7bn debt, owes $972m Okechukwu Nnodim

Latest updates on Nigeria’s cash call arrears repayment showed that the country had so far repaid a total of $3.72bn to five international oil companies, leaving an outstanding balance of $971.8m. Data obtained from the country’s oil firm in Abuja on Friday indicated that the five IOCs include Shell Petroleum Development Company, Mobil Producing Nigeria, […]