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Tag: Oil marketers

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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 […]

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 
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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
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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 […]

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