Tag: Oil Marketers

‘Petrol may hit ₦1,000/ per litre’ – Marketers 

Aminu Imam
Marketers on petrol

The pump price of Premium Motor Spirit (petrol) could rise to as high as ₦1,000 per litre in the coming days, following a sharp increase in global crude oil prices, fuel marketers have warned. Industry players told newsmen that the sudden surge in international crude prices – now trading above $70 per barrel – could trigger another round of price hikes for both imported and locally-refined petroleum products. The warning comes amid recent price adjustments by the Ɗangote Petroleum Refinery, which raised its petrol price from ₦739 to ₦839 per…

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Crisis deepens at Ɗangote Refinery; Naira petrol sales halted as PENGASSAN cuts crude, gas supply

Aminu Imam
Dangote Refinery crisis

Nigeria’s energy sector was thrown into fresh uncertainty yesterday as the $20bn Ɗangote Petroleum Refinery faced simultaneous blows: suspension of petrol sales in naira and a union-ordered shutdown of crude oil and gas supplies. In a notice to customers late Friday, Ɗangote Refinery announced it would stop selling petrol in naira from Sunday, September 28, citing depletion of its crude-for-naira allocation. The company explained that it had been selling “in excess” of its allocation under the Federal Executive Council’s policy to stabilise pump prices and reduce dollar demand. Customers with…

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Conoil, Eterna, others join Ɗangote’s free fuel delivery scheme

Aminu Imam
Dangote’s fuel delivery

Major Nigerian petroleum marketers, including Conoil PLC and Eterna Plc, have partnered with Ɗangote Petroleum Refinery for the logistics-free fuel distribution scheme. The Ɗangote Group announced this in a post on its social media handles on Monday. The collaboration, which also involved players like Golden Super, Nepal Energies, Kifayat Global Energy, and Riquest and Gas, aims to slash logistics costs for fuel stations and drive down pump prices for consumers nationwide. The initiative promises seamless, no-cost transport of refined petrol from Ɗangote’s 650,000-barrel-per-day facility in Lekki to participating stations and…

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Ɗangote Refinery turns to Russian crude, as local oil majors refuse supply  

Aminu Imam
Dangote Refinery turns

Ɗangote refinery, Africa’s largest and owned by Aliko Ɗangote, is preparing to import Russian crude oil as a last resort after repeated failures to secure feedstock from local oil producers, a development that threatens to entangle Nigeria in the geopolitical crossfire over Western sanctions on Moscow’s energy exports.  The $20 billion Ɗangote Refinery, which aims to transform Nigeria from an importer to a net exporter of refined petroleum products, has faced months of supply shortfalls as international oil companies operating in Nigeria refuse to prioritise domestic sales. Instead, they continue…

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Petrol: Marketers raise prices amid drop in crude cost

Aminu Imam
Marketers raise prices

Filling stations have raised their pump prices for petrol to ₦900/litre and above despite a decline in the cost of crude oil since Sunday. Some retail outlets owned by the Nigerian National Petroleum Company Limited (NNPCL) raised petrol prices to ₦900 per litre in Lagos and Ogun states, even as crude prices dropped from nearly $69 to $66 per barrel. Dangote refinery partners, including Ardova and Heyden, jerked prices above ₦900 per litre. Our correspondent observed that AP, a partner of the Dangote refinery, sold petrol at the rate of…

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Marketers reduce petrol prices below Ɗangote, NNPCL rates

Aminu Imam
Marketers reduce

Petrol marketers have reduced their pump prices to levels below what is being offered by the Ɗangote Petroleum Refinery and the Nigerian National Petroleum Company Limited, (NNPCL). This move has triggered deel competition in the fuel market, even as Ɗangote continues to urge the Federal Government to ban fuel importation to protect local refining. For instance, SGR station in Ogun offered petrol at ₦847 on Tuesday. Meanwhile, stations associated with Ɗangote, such as MRS and Heyden, sell between ₦865 and ₦875 per litre. Depot prices have also dropped, with some…

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Fuel: Ɗangote Refinery bypasses marketers, begins direct supply to major consumers

Aminu Imam
Dangote Refinery bypasses

Ɗangote Refinery has announced a major shift in its fuel distribution strategy, revealing that it will begin supplying premium motor spirit (PMS) and automotive gas oil (diesel) directly to large-scale consumers such as manufacturers, telecommunications companies, the aviation sector, and other heavy users. The 650,000 barrels-per-day facility shared the update via a statement posted on its official X account on Sunday, noting that the new supply initiative will commence on August 15, 2025. This move marks a departure from the traditional reliance on fuel marketers, as the refinery takes full…

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Price War: Marketers sign deal with global suppliers to crash fuel price to ₦700/litre

Aminu Imam
Marketers sign deal

Major petroleum product marketers in Nigeria have reportedly inked a deal with prominent global petrol suppliers to import cheaper products that will sell below Ɗangote and NNPCL retail outlets.  According to reports, the deal will see the marketers selling petrol at about ₦700 per litre, far cheaper than what is obtained at NNPCL and Ɗangote Refinery partner stations.  Recall that it was earlier reported that the Independent Petroleum Marketers Association of Nigeria, (IPMAN), asked the Ɗangote Refinery to lower its petrol prices below ₦800 per litre. IPMAN’s publicity secretary, Chinedu…

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Petrol: ‘Marketers ditch NNPCL, as price war with Ɗangote Refinery intensifies’ – IPMAN

Aminu Imam
Marketers ditch NNPCL

The Independent Petroleum Marketers Association, (IPMAN), has disclosed that its members are already severing ties with the Nigerian National Petroleum Company Limited, (NNPCL) franchise for cheaper deals. IPMAN’s spokesperson, Chinedu Ukadike, made this known on Tuesday. The development is not unconnected to the marketer’s search for deals that offer better return on investment amid the ongoing price war between the State-owned oil firm and the Ɗangote Refinery. It is gathered that filling stations in Lagos, specifically located around Wawa on the Lagos-Ibadan Expressway, as well as at Ibafo, still along…

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Marketers demand sale of 2 refineries, as NNPCL slashes prices again 

Aminu Imam
Oil marketers demand

…Begin fuel loading from Warri refinery   The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has asked the Federal Government to privatise government-run refineries, allow competition, and boost transparency, accountability and investment in infrastructure, in order to enhance operations in the downstream sector.  The marketers, who made the demand in its ‘2024 Retrospective and Outlook’ document, released at the weekend,  urged the Federal Government to privatise Warri and Kaduna refineries. They also asked the Government to enforce local content development, boost the effectiveness of compressed natural gas (CNG) in…

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