Oil & Gas - Abia ThinkTank News

Oct

2024

NNPCL Increases Fuel Price To N1,030 Per Litre In Abuja, N998 In Lagos

NNPCL Increases Fuel Price To N1,030 Per Litre In Abuja, N998 In Lagos Filling stations belonging to the Nigerian National Petroleum Corporation Limited (NNPCL) have increased the pump price of fuel. The product which previously sold for N897 in Abuja, the nation’s capital, currently sells for N1,030. Daily Trust correspondent who visited an NNPC outlet in Maitama observed how motorists queued up to purchase the product amid complaints. At another NNPC station in Gudu, still in Abuja, motorists queued up while waiting for attendants to commence sale. When our reporter asked an attendant if the station was out of stock,…

Oct

2024

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By Abia ThinkTank

Crude-For-Loans: NNPC Votes 8Million Barrels Monthly For $8.8 Billion Debt – Report

Economy, News Flash, Oil & Gas

Crude-For-Loans: NNPCL Votes 8Million Barrels Monthly For $8.8 Billion Debt – Report The Nigerian National Petroleum Company Limited (NNPCL) has pledged 272,500 barrels per day of crude oil through a series of crude-for-loan deals totalling $8.86bn. By pledging 272,500 barrels daily, it means that about 8.17 million barrels of crude will be used for different loan deals by the national oil firm on a monthly basis. This is according to an analysis of a report by the Nigeria Extractive Industries Transparency Initiative and the NNPC’s financial statements. Under these deals, notable projects include Project Panther, Project Bison, Project Eagle Export…

Sep

2024

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By Abia ThinkTank

NNPCL/Dangote: Fresh Dispute Emerges Over Supply Volume

Business, Economy, News Flash, Oil & Gas

NNPCL/Dangote: Fresh Dispute Emerges Over Supply Volume More controversy has emerged in the execution of a sale-purchase deal on premium motor spirit, otherwise known as petrol, between the Nigerian National Petroleum Company Limited, NNPCL, and Dangote Refinery. Findings by Vanguard yesterday indicated that while the NNPCL believes Dangote cannot supply an adequate quantity of the product, Dangote told Vanguard it had already delivered 111 million litres of the product within three days (last Sunday to yesterday), adding that loading was still ongoing steadily.NNPCL last weekend said Dangote could only deliver 16.8 million litres out of the 25 million litres it…

Sep

2024

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By Abia ThinkTank

IPMAN Laments Selling Of Dangote Petrol Higher Than Imported Fuel

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

IPMAN Decries Selling Of Dangote Petrol Higher Than Imported Fuel The Independent Petroleum Marketers Association of Nigeria (IPMAN) has raised concerns over the pricing of petrol from the Dangote Refinery, urging the Nigerian National Petroleum Company Limited to ensure it is not sold at a higher price than imported fuel. IPMAN argues that such a disparity would be counterproductive to the nation’s drive for energy self-sufficiency and could negatively impact consumers and marketers alike. According to IPMAN on Monday, the pricing strategy for locally refined petrol should reflect the advantages of domestic production, offering Nigerians a more affordable option. The…

Sep

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

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

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

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

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

2024

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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,…