President Bola Ahmed Tinubu has directed the Nigerian National Petroleum Company (NNPC) Limited to sell crude oil to Dangote Refinery and other…
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The Nigerian National Petroleum Company Limited (NNPC Ltd.) says the tightness in fuel supply and distribution is caused by a hitch in the discharge operations of a couple of vessels.
“Dangote Refinery Should Be Fully Supported, Not Vilified. The recent conflicts between Dangote Industries and some government agencies are deeply troubling. This issue transcends political affiliations and personal grievances. It is fundamentally about Nigeria’s economy, future, and the well-being of its citizens.”
“The meeting focused on finding a sustainable and lasting solution to the current impasse affecting the Dangote Refinery, with all parties demonstrating a commitment to collaborative and proactive problem-solving,” the statement read.
“As an example, we paid $96.23 per barrel for a cargo of Bonga crude grade in April (excluding transport). The price consisted of $90.15 dated Brent price + $5.08 NNPC premium (NSP) + $1 trader premium. In the same month, we were able to buy WTI at a dated Brent price of $90.15 + $0.93 trader premium including transport. When NNPC subsequently lowered its premium based on market feedback that it was too high, some traders then started asking us for a premium of up to $4m over and above the NSP for a cargo of Bonny Light,” Edwin said.
The Nigerian National Petroleum Company Limited (NNPCL), has reaffirmed its preparedness to commence crude oil refining at the Port Harcourt refinery in early August.
The President of Dangote Refinery, Aliko Dangote, has revealed that the Nigerian National Petroleum Corporation (NNPC) Limited no longer owns a 20% stake in Dangote Refinery.
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has attributed the current fuel queues in the FCT and some parts of the country to the disruption of ship-to-ship (STS) transfer of Premium Motor Spirit (PMS), also known as petrol.
ASHENEWS reports that the De Renaissance Patriots Foundation has lamented that the indigenes of Lagos State were concerned that their…
The Nigerian National Petroleum Company (NNPC Ltd.), says the drive to bring Compressed Natural Gas (CNG) closer to Nigerians has commenced and is irreversible.