Port Harcourt Refinery: Marketers Warn of Boycott Amid NNPCL’s Petrol Price Uncertainty
Oil marketers have called on the Nigerian National Petroleum Company Limited (NNPCL) to ensure that petrol prices from the newly rehabilitated Port Harcourt Refinery are lower than those of the Dangote Refinery to encourage patronage. This comes amid claims that NNPCL’s petrol price is around ₦1,045 per litre—higher than the Dangote Refinery’s ₦970 per litre […]
NNPC Explains Port Harcourt Refinery Delay
The Nigerian National Petroleum Commission (NNPC) has cited unforeseen challenges as the reason for the delayed completion of the Port Harcourt Refinery, which missed its September 2024 deadline. NNPC’s Chief Corporate Communications Officer, Olufemi Soneye, explained on Monday that the project, being a complex brownfield rehabilitation, encountered risks during commissioning. While mechanical completion was achieved […]
NLC demands immediate reversal of New Fuel Pump Price
The Nigeria Labour Congress (NLC) has condemned the latest hike in the pump price of petrol, calling for its immediate reversal. In a statement late yesterday, its President, Joe Ajaero, criticised the federal government’s decision to raise fuel prices yet again without providing adequate relief measures for struggling Nigerians. The NLC also picked holes in […]
NNPC Fails to Begin Production at Port Harcourt Refinery Despite Promises
The Nigerian National Petroleum Company Limited (NNPC) has again missed its deadline to commence fuel production at the Port Harcourt refinery, despite six previous postponements as of August 2024. After the latest delay, NNPC Chief Financial Officer Umar Ajiya had promised in August that the refinery would be operational by September, but no update has […]
Petroleum Minister Says Fuel Crisis to be Resolved Soon
The Minister of State for Petroleum, Heineken Lokpobiri has assured the public thatthe fuel crisis experienced across the nation would soon be resolved, noting that theNigerian National Petroleum Company Limited (NNPCL) has sufficient fuel supplies tomeet national demand. The Minister of State for Petroleum made this known while addressing State HouseCorrespondent in Abuja, after an […]
FG Unaffiliates Itself From NNPC Recent Petrol Price Hike
The Federal Government has denied a report that the Ministry ofPetroleum Resources ordered the NNPC Limited to sell petrol at ₦1,000 per litre. In a statement yesterday, the Special Media Adviser to the Minister for PetroleumResources (Oil), Nnemaka Okafor, declared that the report was concocted and ill-conceived to sow discord and confusion in the oil […]
Nigerians in for Tougher Times as Petrol rises to N855 per Litre
Nigerians are in for tougher times, following the price increase of petrol to N855per litre by filling stations belonging to the Nigerian National PetroleumCorporation Limited in Lagos. The price adjustment comes amid the ongoing fuel scarcity rocking the country,and days after the NNPC admitted that its capacity to supply petrol to localmarketers is threatened by […]
NNPCL Under Financial Strain
The Nigerian National Petroleum Company Limited is experiencing financialstrain, which has put considerable pressure on the company and poses a threat tothe sustainability of fuel supply. Its Chief Corporate Communications Officer, Olufemi Soneye, in a statementyesterday, acknowledged reports regarding the company’s significant debt topetrol suppliers, noting that the financial strain had placed considerable pressureon the […]
FEC Approves Sale of Crude Oil to Dangote Refinery and others in Naira
The Federal Executive Council has approved the sales of crude oil to local Refineries in Nigeria, Including Dangote Refinery to be denominated in Naira at a fixed exchange rate. Announcing this after the FEC meeting on Monday, the Special Adviser on Revenue to the President and FIRS Chairman, Zack Adedeji explained that the strategic intervention is […]
Stakeholders in oil and gas speak on resolving issues
Minister of State Petroleum Resources (Oil), Sen. Heineken Lokpobiri, has convened a high-level meeting with key stakeholders in the oil and sector to resolve issues surrounding the Dangote Refinery. The minister convened the meeting which held yesterday in Abuja to find a lasting solution to the current impasse affecting the Dangote Refinery, with all parties […]
