Oil & Gas - Abia ThinkTank News

Sep

16

2024

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By Abia ThinkTank

NNPC Announces New Petrol Price Across 36 States And Abuja

Business, News Flash, Oil & Gas

NNPC Announces New Petrol Price Across 36 States, FCT Nigerian National Petroleum Company Limited (NNPCL) has said that it will sell the petrol lifted from the Dangote Refinery at a price above N1,000 per litre in the far north. NNPC spokesperson, Olufemi Soneye, disclosed this on Monday, in a statement titled, ‘NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing’. Soneye explained that the price may go for as high as N1,019/litre in places like Borno State, and N999.22 in Abuja, Sokoto, Kano, and others. In Oyo, Rivers and other areas in the…

Sep

16

2024

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By Abia ThinkTank

It’s Very Misleading – Dangote Refinery Speaks On Selling Petrol At N898 Per Litre

Business, Columns/Opinions/Letters, Economy, News Flash, Oil & Gas

It’s Very Misleading — Dangote Refinery Speaks On Selling Petrol At N898 Per Litre Dangote Petroleum Refinery says the claim by the Nigerian National Petroleum Company (NNPC) Limited that the refiner sold petrol at N898 per litre is misleading. In a statement on Sunday by Dangote Group, the company described the statement by NNPC as “mischievous”. There had been several news reports that NNPCL said it purchased fuel at N898 per litre from the Dangote Refinery in Lagos. But in a statement on Sunday by Dangote Group, the company described the statement by NNPC as “mischievous”. The Press statement reads:…

Sep

10

2024

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By Abia ThinkTank

Fuel Scarcity: Local Government Chairman Slumps, Dies At Filling Station

News Flash, Oil & Gas, Personality

Local Government Chairman Slumps, Dies At Filling Station Amid Fuel Scarcity The fuel scarcity crisis in Nigeria has taken a tragic turn, as the chairman of the Nigeria Union of Local Government Employees (NULGE) for Akure South Local Government, Oluwatuyi Olasoji, has passed away. Olasoji collapsed while waiting to purchase fuel at a filling station in Akure, Ondo State. Local reports indicate that the incident occurred last week when Olasoji was attempting to buy Premium Motor Spirit (PMS). After slumping, he was immediately rushed to the Federal Medical Center in Owo, where he underwent surgery. Despite efforts to save him,…

Sep

09

2024

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By Abia ThinkTank

Hundred Million Fraud: Fake NNPC Director Lands In EFCC Custody

Crime, News Flash, Oil & Gas

Fake NNPC Director Lands In EFCC Custody Over N100 Million Fraud The Kaduna Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has arraigned one Ibrahim Shuaibu before Justice Darius Khobo of the Kaduna State High Court, sitting in Kaduna State for fraud. According to a Monday statement on EFCC X.com handle Shuaibu is facing prosecution on a seven-count charge, including criminal breach of trust, impersonation, and obtaining by false pretence, amounting to N100 million. Count one of his charges reads, “That you, Nuhu Ibrahim Shuaibu (a.k.a Ishaku Abdulrazak) (M) and lIya Garba (now deceased) sometime in 2017 in…

Sep

08

2024

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By Abia ThinkTank

Dangote Refinery May Dump Nigeria Market, Export Petrol Over NNPC’s Conditions

Business, News Flash, Oil & Gas

Dangote Refinery May Dump Local Market, Export Petrol Over NNPC’s Conditions The Dangote refinery may resort to exporting its Premium Motor Spirit (petrol) following the refusal of the Nigerian National Petroleum Company Limited to be the sole buyer of its product. The NNPC, in a statement by its spokesman, Olufemi Soneye, said on Saturday that it would not buy Dangote fuel unless it was cheaper than that of the international market. This is contrary to claims by the President of the Dangote Group, Aliko Dangote, that the refinery was waiting for the NNPC to roll out its product. On Saturday,…

Sep

06

2024

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By Abia ThinkTank

VP Shettima Summons Petroleum Minister, NNPCL, NSA Ribadu Over Petrol Price Hike

Economy, FGN, News Flash, Oil & Gas

VP Shettima Summons Petroleum Minister, NNPCL, NSA Ribadu Over Petrol Price Hike Vice President, Kashim Shettima, on Thursday summoned the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, and the Group Managing Director of Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari. The Vice President also summoned the National Security Adviser, Nuhu Ribadu over the recent hike in the price of Premium Motor Spirit (PMS), otherwise known as petrol. The Vice President is meeting with the trio in his office at the State House, Abuja NNPCL on Tuesday increased the pump price of petrol from ₦568 to ₦855,…

Sep

06

2024

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By Abia ThinkTank

NNPC Reveals Main Reason Behind Petrol Price Hike In Nigeria

Economy, FGN, News Flash, Oil & Gas

NNPC Reveals Main Reason Behind Petrol Price Hike In Nigeria The Nigerian National Petroleum Company Limited (NNPCL) says foreign exchange illiquidity has been a significant factor influencing the fluctuation in prices of Premium Motor Spirit (PMS), popularly known as petrol. These, it said, are governed by unrestricted free market forces, as provided for in the Petroleum Industry Act (PIA). The newest price hikes, implemented by the Nigerian National Petroleum Company’s (NNPCL) Retail Management, range from N855 to N897 per litre, depending on the location, from the previous N568-N617. Independent marketers have adjusted their prices to between N930 and N1,200 per…

Sep

05

2024

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By Abia ThinkTank

Just-In: Prepare For More Fuel Scarcity – NNPCL Tells Nigerians

Columns/Opinions/Letters, News Flash, Oil & Gas

Prepare For More Fuel Scarcity — NNPCL Tells Nigerians The Nigerian National Petroleum Company Limited (NNPCL) has warned Nigerians to get ready to witness more fuel scarcity. The warning was given by Adedapo Segun, Executive Vice President of NNPCL (Downstream), during a televised interview on Thursday. Segun’s warning comes on the heels of the recent fuel price hike, which has already caused widespread hardship across the country. The NNPCL executive said there is need for a perfectly competitive market to ensure stable fuel prices and supplies in Nigeria. Details later…

Sep

05

2024

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By Abia ThinkTank

News Breaking: NANCES Calls For Immediate Reversal Of Petrol Price, Mobilizes For Nationwide Action

Education, News Flash, Oil & Gas

NANCES Calls For Immediate Reversal Of Petrol Price, Mobilizes For Nationwide Action LThe National Association of Nigerian Colleges of Education Students (NANCES) has called for the immediate rescind of the recently reviewed price of the Premium Motor Spirit, popularly known as petrol. In a statement released on Wednesday, 4th September 2024, Comrade Kur Isaac Ushahemba, the Senate President of the organization, said the obnoxious increment of PMS will translate to more inflation, making it impossible for the Nigerian masses to survive. “We are wary that despite the humongous spending on Nigeria’s four refineries, the Nigerian National Petroleum Company Limited (NNPCL)…

Sep

04

2024

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By Abia ThinkTank

Dr. Engr. Odo Ijere Admonishes Nigerians To Brace Up And Fight The Petroleum Mafia

Columns/Opinions/Letters, Economy, News Flash, Oil & Gas

THE END GAME OF THE PETROLEUM MAFIA. Dangote is and has always been part of the Petroleum mafia and their scam against the Nigeria people. His job as in this trending Petroleum supply issues is to operationalize the big script to run the newly created superstructure of monopoly of supply approved by the presidency. He recently cried out to high heavens when they wanted to excuse him from the cartel and branding his refinery project derelict. Now they settled and he was brought back into the fold of the big monopoly of the Petroleum products created by NNPC for NNPC…