Two independent oil marketers have been accused of stealing 100 million litres of premium motor spirit (PMS) otherwise known as petrol belonging to the Federal Government. According to reports, the product is said to have disappeared in the storages of the oil marketing companies leased by the Nigerian National Petroleum Corporation (NNPC) without return of the […]
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Petroleum sector pressure group,the Independent Petroleum Marketers Association of Nigeria (IPMAN) has commenced a strategic partnership with NIMEX Petroleum Group for effective importation of petroleum products to complement efforts of the Federal Government in driving the deregulation policy. National President, of the IPMAN Mr Obasi Lawson who stated this after signing a Memorandum of Understand […]
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The Managing Director, Kaduna Refining and Petrochemical Company (KRPC), Idi Muktar, has said that the company will distribute 2 million of Premium Motor Spirit (PMS) in Kaduna State on Wednesday. The Managing Director disclosed this on Tuesday while receiving leadership of the State Union of Journalists in the state, stressing that efforts have been put […]
Read More THE Nigerian National Petroleum Corporation (NNPC) has said that the country imported 6.2bn litres of premium motor spirit (PMS) popularly known as petrol, last year to remain one of Africa’s highest petrol importers. The imports were made through the Offshore Processing Arrangements (OPA), a system whereby NNPC allocates more than 200,000 barrels of crude oil […]
Read More The Executive Secretary, Petroleum Products Pricing Regulatory Agency, Mr. Farouk Ahmed, has explained why the agency allocated 78 per cent of the total volume of 3.1 million metric tonnes of petrol import allocation for the first quarter to the Nigerian National Petroleum Corporation. He said the decision was due to the inability of some oil […]
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The Nigerian National Petroleum Corporation on Tuesday announced that the nation’s three refineries in Kaduna, Port Harcourt and Warri had attained a combined daily production capacity of over 6.76 million litres of petrol. The corporation said in a statement by its Group General Manager, Group Public Affairs Division, Ohi Alegbe, that petrol production was projected […]
Read More The reason why many filling stations across the country have refused to comply with the Federal Government’s directive to sell a litre of petrol for N86.50 as against the old pump price of N87 is because most of them had stockpiled the product in anticipation of a likely price increase by the government, the Punch […]
Read More Motorists yesterday got a New Year present. Petrol is to sell for N86 per litre at Nigeria National Petroleum Corporation (NNPC) outlets. Others will sell at N86.50k as against the present N87 per litre. According to The Nation, The Petroleum Products Pricing Regulatory Agency (PPPRA) said the prices would run from January 1 till March […]
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The Federal Government has been advised to sell off any of the nation’s refineries that fails to come back on stream as well as deregulate the downstream sector of the oil and gas industry. The National Operation Controller, Independent Petroleum Marketers Association of Nigeria, Mr. Mike Osatuyi, gave the advice while disclosing the Federal Government’s […]
Read More Minister of State for Petroleum Dr. Emmanuel Ibe-Kachukwu yesterday made some clarifications about the Petroleum Subsidy Fund (PSF), otherwise known as petrol subsidy. He said that there was no subsidy in the price of the Premium Motor Spirit (PMS). Kachikwu, who is also the Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), […]
Read More The Nigerian Nationla Petroleum Corporation (NNPC), through the National PMS Evacuation Report has said that the country currently has about 977.31 million litres of Premium Motor Spirit (PMS) in its land and marine depots. The report, which was released on Wednesday in Abuja, noted that the reserve would be enough to last the country for […]
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Oil marketers on Saturday said it was possible to sell Premium Motor Spirit at N85 per litre. They however expressed doubt if Nigerians were ready to absorb the fluctuations or modulations in the pump price of petrol beginning from next year. The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, had on Friday stated […]
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