In response to the continuous depreciation of the Nigerian naira against the US dollar, the Dangote Petroleum Refinery has raised the price of diesel from ₦940 per litre to ₦1,100 per litre. This decision comes after a series of consultations with oil marketers and an initial price reduction from ₦1,200 per litre to ₦1,000 per … Read more
After several delays, the 210,000-barrel-per-day Port-Harcourt refinery is expected to commence operations by the end of July 2024. Chief Ukadike Chinedu, the National Public Relations Officer of the Independent Marketers Association of Nigeria (IPMAN), confirmed this development on Monday. Chinedu highlighted that the refinery’s operation would stimulate economic activities, lower petroleum product prices, and ensure … Read more
In Apapa, Lagos State, a significant fire broke out at a tank farm, which the Lagos State Fire Service initially attributed to the facility of Nigerian National Petroleum Company Limited (NNPCL). A video capturing the blaze circulated on social media early Friday morning. However, NNPCL quickly refuted this claim, asserting that the fire originated from … Read more
Independent marketers expect the current fuel supply crisis in parts of the country to abate not later than next week. Their optimism is hinged on the ongoing efforts to free seven fuel-laden vessels trapped in Warri. The vessels are carrying a total of 150 million litres of Premium Motor Spirit (PMS) an official of the … Read more
President Bola Tinubu is set to commission three critical gas infrastructure projects being undertaken by the Nigerian National Petroleum Company Limited (NNPCL) and partners. The projects support the federal government’s effort to grow value from the nation’s gas assets while eliminating gas flaring. The delivery of the projects was accelerated from the inception of the … Read more
As Nigerians battle fuel scarcity, over 9,000 oil marketers are on the verge of losing their operating licences. As a result, the Independent Petroleum Marketers Association of Nigeria is urging the Nigerian National Petroleum Company Limited to extend its final deadline for licensing renewal to July. It also appealed to the Nigerian Midstream and Downstream … Read more
Oil dealers under the aegis of the Independent Petroleum Marketers Association of Nigeria, on Tuesday, declared that it would shut down the 30,000 stations operated by IPMAN members across the country if the Federal Government fails to pay the N200bn that is being owed marketers. IPMAN specifically said the Nigerian Midstream and Downstream Petroleum Regulatory … Read more
The Major Energies Marketers Association of Nigeria (MEMAN) has finalized plans to take delivery of eight vessels with more than 300 million liters of petroleum to ease the present fuel scarcity. Huub Stokman, Chairman of MEMAN, made the announcement during a news conference to address the country’s current gasoline scarcity. Platinumpost reports that fuel queues … Read more
The Independent Marketers said that the difficulties that caused the fuel scarcity will take another two weeks to properly rectify. On Sunday in Abuja, most fuel stations were out of supply, with only a few prominent marketers distributing the product in the city center. In the suburbs, the few stations that opened to motorists increased … Read more
Residents of Sokoto have continued to lament the untold hardship they are subjected to following the fuel scarcity being experienced in all parts of the state that has made businesses and other activities very difficult. Commuters in the state said most filling stations are locked under the guise that they lack product to dispense, while … Read more