Category: Energy

EXCLUSIVE: How Dangote’s N977 Per Litre Price Stirred NNPCL Price Adjustment

Ganiyu Amodu

City-by-city Template of how much a litre of petrol will now be sold at NNPCL outlets A litre of premium motor spirit (PMS) popularly called petrol has hit N977 at the Dangote Refinery, major supplier of the product to the Nigerian National Petroleum Company Limited (NNPCL), Platforms Africa can report authoritatively. Findings exclusively conducted by this reputable media group showed that this has led to the adjustment in pump price by the NNPCL as full deregulation of the product takes immediate effect. After Platforms Africa Report, Oil Ministry Director Queried,…

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‘N1,030 In Abuja, N998/Litre In Lagos: NNPCL Hikes Petrol Price Again

ADEOLA YUSUF

. ‘N113 more per litre,’ Details of the 12.7 per cent hike, the second price adjustment in the last 24 days, which happened 72 hours after Platforms Africa’s report   About 72 hours after Platforms Africa’s report on looming hike in the price of Premium Motor Spirit (PMS) also known as petrol, the Nigerian National Petroleum Company Limited (NNPCL) has increased the price of the product, from N855 per litre to N998 per litre in Lagos and over N1,000 per litre in Abuja. Platforms Africa reports that this is the…

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Minister To NNPC: Shelve Running Govt Refineries, Face Equity In Dangote Refinery, Others

ADEOLA YUSUF

. At CORAN Summit, Lokpobiri orders modular refineries committee to give concession to local bidders . As Dangote says, he built 650,000 barrels/day refineries without a single incentive   Minister of state for Petroleum Resources (oil), Heineken Lokpobiri, on Tuesday charged the Nigerian National Petroleum Company Limited (NNPCL) to shelve running of its refineries and take equity in private refineries. Platforms Africa reports that Lokpobiri who said this at the maiden edition of Crude Oil Refiners Association of Nigeria ( COREN) Summit in Lagos, maintained that the government has also…

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‘Better Days Ahead,’ Oil Contracting Cycle, Middlemen Fixed – NCDMB

ADEOLA YUSUF

‘What Presidential Directives on Local Content got to do with it,’ Key points from what Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe, said at a breakfast meeting with some media executives in Lagos The Nigerian oil and gas industry is set to enjoy better days ahead, as the Nigerian Content Development and Monitoring Board (NCDMB) announced on Monday that it had eliminated middlemen from the oil and gas industry value chain and contributed to shortening the oil industry contracting cycle to six months, courtesy of the three Presidential Directives…

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“Historic Leap,” Nigeria Begins Crude Oil Sales In Naira

ADEOLA YUSUF

In a groundbreaking move, Nigeria has officially commenced the sale of crude oil and refined petroleum products in Naira Platforms Africa reports that a statement signed by Mohammed Manga FCIA, Director, Information and Public Relations at the Ministry of Finance, quoted the Honourable Minister and Coordinating Minister of the Economy, to have announced the news. Petrol 40% Cheaper in Nigeria Than Saudi? Fact-Checking Dangote’s Fuel Subsidy Claim “In line with the Federal Executive Council (FEC) directive, the sale of crude oil and refined petroleum products in Naira has officially commenced…

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Meet Ronald Adams, Energy Veteran of 32 Years Now SNEPCo MD

Ganiyu Amodu

+ New Assignment Shell has for Adams’ predecessor, Elohor Aiboni   Shell has named Ronald Adams as the new Managing Director for its deep-water subsidiary in Nigeria, Shell Nigeria Exploration and Production Company Limited (SNEPCo). Ronald Adams is formerly Chief Executive Officer of Atlantic LNG, Trinidad and Tobago. He takes over from Elohor Aiboni, who proceeds on international assignment to Brunei Shell Petroleum (BSP) as Asset Director. Both appointments take effect today,October 1,a statement signed by Gladys Afam-Anadu,the company’s Media Relations Manager, said. Country Chair, Shell Companies in Nigeria, Osagie…

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Major Oil Marketers Task Nigeria To Up Investment In Electric Vehicles

Ganiyu Amodu

. MEMAN speaks on Dangote refinery, midstream boom, EVs outlook   The Major Energy Marketers Association of Nigeria (MEMAN) has highlighted Electric Vehicles (EVs) as crucial to Nigeria’s energy transition, tackling climate change and boosting energy security, affirming that ongoing innovations like solid-state batteries, wireless charging, and vehicle-to-grid (V2G) technology are poised to accelerate adoption despite high initial costs and limited infrastructure. These insights were among the key highlights of the MEMAN Quarterly Press Webinar on Tuesday, where experts discussed Nigeria’s energy future, emphasizing the role of electric vehicles (EVs),…

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Petrol 40% Cheaper in Nigeria Than Saudi? Fact-Checking Dangote’s Fuel Subsidy Claim

Ganiyu Amodu

How 63 cent per litre in Saudi is 40% cheaper compared to 67 cent per litre in Nigeria will be left for Africa’s richest man to explain.” Read-for-yourself statistical details on how price tracking sites punctured the billionaire’s claim   Founder of Dangote Refinery, Alhaji Aliko Dangote, stirred controversy among oil industry statistics pundits when he declared that Premium Motor Spirit (PMS) popularly known as petrol is cheaper in Nigeria than in Saudi Arabia. The billionaire, who said this in an interview with Bloomberg, claimed that the product is 40%…

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Why Only Nigerians Call Petrol PMS, By Farooq Kperogi

ADEOLA YUSUF

▪️”Almost without exception,…Nigerian newspapers mislead their readers into thinking that everyone in the English-speaking world recognizes “premium motor spirit” as the real name for petrol.”   I am taking a break from political commentary to everyday language usage this week. A few weeks ago, a British journalist who writes about oil and gas wrote to thank me for past articles I wrote that explained why Nigerians call “petrol” “Premium Motor Spirit.” “While I have always assumed PMS meant petrol, I never knew exactly why this term was so widespread in…

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Dangote Refinery Records 65m Litres Petrol Supply Shortfall in Three Days

Aliyu Aliyu

..Facility Not Ready for Petrol Loading Vessels, Spokesman affirms   Dangote Refinery has recorded 65 million litres petrol supply shortfall in three days, falling short of its commitment to deliver 25 million litres of petrol to the nation daily for September. A report by Premium Times which showed this added that that rather than deliver 75 million litres in three days, the refinery was only able to supply 10,297,766 (about 10.3 million litres) through its gantry loading system. With that figure, the refinery demonstrated a supply shortfall of almost 65…

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