The pump price of petrol known as Premium Motor Spirit (PMS) has risen to as high as N1,430 per litre in parts of Abuja following an increase in the wholesale price by the Dangote Petroleum Refinery. The refinery raised its gantry price from N1,265 to N1,350 per litre, representing an N85 or 6.7 per centContinueContinue reading “Petrol price hits N1,430 as Dangote raises depot price”
Category Archives: Oil & Gas
Dangote refinery increases petrol prices 3 times in 8 days
The Dangote Petroleum Refinery has raised its gantry price of Premium Motor Spirit (PMS), popularly known as petrol, by N65 per litre, barely three days after its last increase. The latest adjustment, which takes the refinery’s gantry price from N1,200 to N1,265 per litre, takes effect on Saturday. It is the third price increase byContinueContinue reading “Dangote refinery increases petrol prices 3 times in 8 days”
Refineries ll bounce back, we ll publish fuel subsidy utilisation – Tinubu
President Bola Tinubu on Thursday assured Nigerians that the nation’s refineries will bounce back to work. The President also lamented that the expected benefits from the introduction of Compressed Natural Gas (CNG) are going into the pockets of truck owners. This came as the President of the Nigeria Union of Petroleum and Natural Gas WorkersContinueContinue reading “Refineries ll bounce back, we ll publish fuel subsidy utilisation – Tinubu”
Dangote refinery officially switches petrol sales from Naira to Dollar pricing structure
Dangote Petroleum Refinery has officially ended naira-denominated sales of refined petroleum products, introducing a dollar-based pricing structure that fixes the ex-depot price of Premium Motor Spirit (PMS), popularly known as petrol, at $0.779 per litre. The new pricing template, which took effect on July 13, also pegs Automotive Gas Oil (diesel) at $1.087 per litreContinueContinue reading “Dangote refinery officially switches petrol sales from Naira to Dollar pricing structure”
Ondo traditional rulers vow not to cede oil rich Eba Island to Ogun
Traditional rulers and stakeholders in Ilaje Local Government Area of Ondo State, have firmly rejected the claim by traditional authorities from Ogun Waterside that the oil-rich Eba Island belongs to Ijebu axis of Ogun State.They described the claim as historically inaccurate and a distortion of long-established administrative, traditional, and geographical facts that had defined theContinueContinue reading “Ondo traditional rulers vow not to cede oil rich Eba Island to Ogun”
Just In: NNPCL lower petrol price after Dangote refinery’s price reduction
The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of petrol also known as Premium Motor Spirit (PMS) following the recent decision by Dangote Refinery to lower its gantry price.Checks on Wednesday showed that NNPCL retail outlets in Abuja and surrounding areas adjusted their petrol price to N1,165 per litre, down fromContinueContinue reading “Just In: NNPCL lower petrol price after Dangote refinery’s price reduction”
Tinubu resolves 15 year-old OPL245 dispute, unlocks major deepwater investment
President Bola Tinubu on Thursday announced the successful conclusion of a historic settlement agreement between the Federal Government of Nigeria, ENI, and Nigerian Agip Exploration Limited (NAEL).The announcement was made at the meeting in his office attended by the Chief Executive Officer of Eni, Claudio Descalzi; the Chief Operating Officer, Guido Brusco; the Head ofContinueContinue reading “Tinubu resolves 15 year-old OPL245 dispute, unlocks major deepwater investment”
Leaked document on how OSOPADEC Secretary allegedly diverted N463m project fund
The Ondo State Oil Producing Areas Development Commission (OSOPADEC) is currently embroiled in financial scandal as the commission’s Secretary, Mrs Abike Bayo-Ilawole allegedly diverted the sum of N463 million from project accounts to personal accounts.Leaked documents by some aggrieved staff of the commission revealed that part of the money was warehoused in personal accounts ofContinueContinue reading “Leaked document on how OSOPADEC Secretary allegedly diverted N463m project fund”
Dangote, NNPCL seal gas supply deal
An enhanced gas supply deal that will ensure adequate supply to meet ongoing expansion projects by Dangote Group has been signed by the Dangote Industries Limited (DIL) and the Nigerian National Petroleum Company Limited (NNPCL).The deal saw three subsidiaries of DIL – Dangote Petroleum Refinery, Dangote Fertiliser Plant and Dangote Cement Plc – scaling upContinueContinue reading “Dangote, NNPCL seal gas supply deal”
Ogun insists on ownership of oil-rich Eba Island, caution Ondo over misinformation
The Ogun State Government has reaffirmed its territorial jurisdiction over Eba Island in Ogun Waterside Local Government Area of the state.A statement by the Special Adviser to the Governor on Information and Strategy, Kayode Akinmade, on Sunday, dismissed claim of ownership by the Ondo State Government, describing it as misleading and capable of triggering avoidableContinueContinue reading “Ogun insists on ownership of oil-rich Eba Island, caution Ondo over misinformation”