OIL

The Department of State Services, DSS, has given marching order to all the petroleum products marketers and other agencies involved in the supply and distribution of Petrol to clear the current long queue being experienced at the various device stations nationwide. DSS on Thursday gave a 48-hour ultimatum to the Nigerian National Petroleum Company Limited, Independent Petroleum Marketers Association of ...

The Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has assured Nigerians that the queues at filling stations will soon disappear as marketers commence massive loading of petroleum products for distribution nationwide. Mr Ahmed Farouk, Chief Executive of NMDPRA, gave the assurance during a stock monitoring exercise within depots in Lagos on Wednesday. The NMDPRA boss led staff of the ...

………..Threatens boycott of Distribution nationwide……… The Independent Petroleum Marketers’ Association of Nigeria (IPMAN), Lagos branch is seeking direct Supply of Premium Motor Spirit (PMS) known as Petrol from the Nigerian National Petroleum Company Limited (NNPC) at N148.17 per liter Ex-Depot price. IPMAN is pleading with the Minister of Petroleum, President Muhammadu Buhari, management of NNPCL and other relevant agencies of ...

The Managing Director of 11 Plc who is also the past Chairman of the Major Oil Marketers Association of Nigeria (MOMAN) Dr. Tunji Oyebanji has blamed the current fuel crisis being experienced nationwide on the situation whereby the Nigeria National Petroleum Company Limited (NNPC) assumed the role of being the sole importer of the Premium Motor Spirit otherwise known as ...

The Nigerian National Petroleum Company Limited (NNPC) has signed five memoranda of understanding with the national oil companies and relevant entities of five African countries on the Nigeria-Morocco Gas Pipeline Project. The five national oil companies and relevant entities were from Gambia, Ghana, Guinea, Guinea Bissau and Sierra Leone. The signing ceremony, according to a statement from NNPC on Monday, ...

There are strong indications that the inability of the Independent Petroleum Marketers Association of Nigeria (IPMAN) not getting direct Supply of Premium Motor Spirit (PMS) otherwise known as Petrol from the Nigeria National Petroleum Company Limited (NNPC) depots have been the fears that the supply may be diverted and sold above the official price. Industry source said that NNPC has ...

The Nigerian Midstream and Downstream Petroleum Regulatory Authority on Wednesday said the Federal Government is not currently planning to increase the price of Premium Motor Spirit popularly called petrol. Fuel queues resurfaced in Lagos, Abuja and some neighbouring states, a development that has made some oil marketers to increase the price of the product. The scarcity was caused by some ...

……..by Ben Ndubuwa……There are strong indications that the current scarcity of Premium Motor Spirit otherwise known as Petrol is attributable to logistics challenges and the increasing exchange rate of the dollar to naira. Financial Energy Review learnt that the logistics challenges include in the cost of paying in dollars to transport the product from the mother vessels usind daughter vessels ...

……..as marketers groan under meagre profit margin……. ………by Ben Ndubuwa……..The Executive Secretary of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), Olufemi Adewole has said that some Oil marketers will close shop by next year due to the introduction of 0.5 percent corporate tax on the gross turnover of petroleum products marketing companies through the finance act 2020. ...

There was a mild drama on the floor of the Senate yesterday when members of the ad – hoc committee on oil theft, disowned report presented by their Chairman, Senator Akpan Bassey for consideration and adoption. The Senate had on April 14, 2022, constituted a 13 – member Ad – Hoc Committee on Oil Lifting , Theft and the impact ...