Tag: NNPC
Fuel Price War: Nigerians to Enjoy Further Petrol Price Reductions as NNPC, Dangote Refinery Compete
Nigerians can expect further reductions in the price of Premium Motor Spirit (PMS), commonly known as petrol, as the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Refinery engage in a price war. This development comes as both companies have recently slashed their petrol prices, sparking competition that is set to benefit consumers. On Monday,…
NNPC Ltd. Clinches Best Fully Integrated Energy Company of the Year 2024 Award
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has been honored as the Best Fully Integrated Energy Company of the Year 2024 at the prestigious Nigeria International Energy Summit (NIES) held in Abuja. The award recognizes NNPC Ltd.’s outstanding contributions to the energy sector and its commitment to driving innovation, sustainability, and growth in Nigeria’s…
NNPC, Stena Bulk, and Caverton Launch Joint Venture to Transform Africa’s Energy and Maritime Sectors
In a landmark move set to revolutionize Nigeria’s maritime and energy sectors, the Nigerian National Petroleum Company (NNPC) Shipping, Stena Bulk, and Caverton Marine Limited have announced the formation of a new joint venture. The partnership, formalized in London last week, aims to establish a world-class tanker operation to serve Nigeria and West Africa’s crude…
Petroleum Marketers Seek Clarity on Dangote Refinery Petrol Pricing
The President of the Petroleum Products Retail Outlets Owners Association, Billy Gillis-Harry, has called on the Dangote Refinery to disclose the pricing of its petrol, stating that local marketers are eager to engage with the refinery but are currently unaware of its pricing structure. Gillis-Harry expressed that the lack of transparency has made it impossible…
IPMAN: Fuel Pricing to Be Driven by Competition Between NNPC and Dangote Refinery
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has indicated that the price of petrol will determine whether its members purchase from the Nigerian National Petroleum Company (NNPC) or Dangote Refinery. According to Ukadike Chinedu, the National Publicity Secretary of IPMAN, marketers will seek the most cost-effective source as competition between local suppliers sets in….
NNPC Clarifies: Dangote Refinery Free to Offer Competitive Prices in Nigerian Market
The Nigerian National Petroleum Company Limited (NNPC Ltd) has responded to claims made by the Muslim Rights Concern (MURIC) that its actions may be undermining the operations of the Dangote Refinery Limited (DRL). In a statement released today by Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd., the company emphasized that the Nigerian market…
NNPC Clarifies PMS Price Fluctuations Amid Forex Challenges
Abuja, Nigeria – The Nigerian National Petroleum Company Limited (NNPC Ltd.) has clarified that the recent fluctuations in the price of Premium Motor Spirit (PMS), commonly known as petrol, are primarily due to foreign exchange (forex) illiquidity, as well as the influence of free market forces, in line with provisions of the Petroleum Industry Act…
Dangote Refinery Denies NNPC Lifting of Petrol, Refutes Reports on Pricing
Lagos, Nigeria – The Dangote Group has officially refuted claims that the Nigerian National Petroleum Corporation (NNPC) has begun lifting refined petrol from its refinery, following a misleading headline published by BusinessDay on September 4, 2024. The article alleged that NNPC had started lifting petrol from the Dangote Petroleum Refinery and was selling it at…
BREAKING: Dangote Refinery Begins Petrol Production
Aliko Dangote, Africa’s richest man and founder of the Dangote Group, has officially announced the commencement of petrol production at the highly anticipated Dangote Refinery. The announcement marks a significant milestone in Nigeria’s energy sector. During a press briefing, Dangote expressed his profound gratitude to President Bola Ahmed Tinubu for authorizing the sale of crude…
NNPC Ltd Faces Financial Challenges, Warns of Potential Fuel Supply Disruptions
Abuja, Nigeria — The Nigerian National Petroleum Company Limited (NNPC Ltd.) has confirmed facing significant financial strain due to the rising costs of Premium Motor Spirit (PMS) supply. The company acknowledged recent reports in national newspapers that highlighted its substantial debt to petrol suppliers, which is now threatening the sustainability of fuel supply across the…