The Nigerian National Petroleum Corporation (NNPC) says it will take delivery of two cargoes of petrol per day for the rest of February to boost supply and eradicate queues.
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Against the latest round of fuel scarcity rocking many parts of the country, private oil marketers are calling for government intervention to enable them to access foreign exchange at a special rate for the importation of Premium Motor Spirit (petrol).
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The Independent Petroleum Marketers Association of Nigeria says long queues at petrol stations in Lagos and Ogun states will soon disappear as the Nigerian National Petroleum Corporation has flooded the Ejigbo depot with Premium Motor Spirit.
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A daily record of operations of the Nigerian National Petroleum Corporation (NNPC) has disclosed the corporation’s plans to sustain the petrol pump price crash it started last week with a healthy build-up of stocks.
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The Federal Government’s ban on the importation of dirty fuels into the country failed to come into effect on July 1, 2017 as announced in December last year.
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Twenty-eight ships laden with petroleum products, food items and other goods are expected to arrive at Apapa and Tin-Can Island ports in Lagos from June 28 to July 10. The Nigerian Ports Authority (NPA) said this in its publication, “Shipping Position’’, a copy of which was made available on Wednesday in Lagos. NPA said that the ships contained petrol, buck […]
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The Major Oil Marketers Association of Nigeria (MOMAN) has appealed to the Federal Government to pay the outstanding fuel subsidy claims to its members to pay back their bank loans.
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To achieve the President Muhammadu Buhari administration’s target of meeting the nation’s needs and end the importation of petroleum products by 2019 which cost the country N3.35 trillion last year, the Ministry of Petroleum Resources is executing a three-pronged strategy.
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The Nigerian National Petroleum Corporation, NNPC, on Sunday, disclosed that some of its key strategic interventions have led to a crash in the price of Automotive Gas Oil, AGO, otherwise called Diesel, to between N175 to N200 per litre across the country.
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In the last one year, the country has spent about N4.74tn on the importation of petroleum products, an amount that is made up of N3.4tn for the actual products and N1.34tn on logistics.
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The capacity of the Major Oil Marketers Association of Nigeria (MOMAN) and the Depot and Petroleum Products Marketers Association (DAPPMA) to import petroleum products has continued to weaken as unpaid subsidy claims and matured Letters of Credit (LCs) arising from the old subsidy regime hit $2 billion.
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— Takes over imports — Oil Corporation explains position — Independent marketers abandon 198 depots, tank farms
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