Marketers threaten to name fuel saboteurs

The Association of Mega Filling Station Owners of Nigeria (AMFSON) has threatened to give the names of government officials sabotaging fuel supply to the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu. They are, however, afraid that if they do so, heads will roll in the industry. Addressing a press conference yesterday over the […]

No More Petrol Queues From Monday – Kachikwu

Dr Ibe Kachikwu, Nigeria’s Minister of State for Petroleum Resources, and Group Managing Director (GMD) of the NNPC has given assurances that the long queues at various petrol stations nation-wide will ease off from Monday (today). He made this statement on Saturday, during an assessment tour of some petrol stations in Abuja. ”We have enough […]

Fuel Scarcity: Port Harcourt Refinery Resumes Operations

The Nigerian National Petroleum Corporation, NNPC, has stated that it has reopened the Port Harcourt refinery, about six weeks after it was shut down. Group Executive Director, Commercial and Investment, Mr. Victor Adeniran said Warri and Kaduna refineries could not resume production at the moment because the pipeline network supplying crude oil to the two […]

Fuel scarcity due to import delays, dollar scarcity

The current round of fuel scarcity in Nigeria may be as a result of the fact that importers cannot get the dollars needed to import the commodity. Also the Nigerian National Petroleum Corporation (NNPC) has not been able to sign agreements quickly enough to exchange crude oil for refined petrol after it canceled previous swap agreements […]

IPMAN kicks as private depots sell petrol for N102/litre

Independent Petroleum Marketers of Nigeria (IPMAN) yesterday raised a fresh alarm that private depot owners sold Premium Motor Spirit (PMS) for N102 per litre. Following the new price regime which the Petroleum Products Pricing Regulatory Agency (PPPRA) activated last month, depots were expected to sell the product to marketers at N77 per litre. Besides, all […]

NNPC Signs New ‘Crude for Fuel’ Deals With Foreign Refineries

The Nigeria National Petroleum Corporation, NNPC has announced it will award new crude for product swap agreements to Total, Varo Energy, Cepsa and ENI. The deals, which are expected to begin in February, differ from the former “offshore processing” agreements as they are directly with refineries who can use the crude oil to produce the […]

PH Refinery Expected to Come Back Onstream This Week

The Port Harcourt refinery is expected to come back alive this week, according to Nairametrics. Reports say the repair works on the crude distillation unit where one of its columns collapsed in October, has been completed. PHRC management reportedly took on the challenge directly by repairing the defective parts in-country while utilizing over 150 host […]

Nigeria Refineries Produced Nothing In October – NNPC

The Nigerian National Petroleum Corporation (NNPC) has continued on a losing pattern losing N184.2bn in the past four months. The state owned refineries produced zero percent for the month of October, the NNPC has disclosed. According to the NNPC financial operation monthly report for October, N88.48bn – the highest in the past four months – […]

Fuel scarcity will end once NASS approves N413bn subsidy – NNPC

The Nigerian National Petroleum Corporation (NNPC) on Wednesday said it is optimistic there will no longer be queues within a week, once the National Assembly approves the N413 billion subsidy payments to oil marketers. Spokesman for the Corporation Mr. Ohi Alegbe made the disclosure in an interview with Raypower Radio. Fuel queues at filling stations […]

Fuel queues remain as NNPC pumps 21m litres of PMS

Fuel queues have ceased to fade despite an additional 21 million litres of Premium Motor Spirit (PMS) or petrol supplied by the Nigerian National Petroleum Corporation to filling stations across the federation at the weekend. Oil marketers and the federal government had last Wednesday pledged to restore sanity to the fuel supply and distribution condition […]

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