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NNPC Still Open to Crude Supply in Naira to Dangote Refinery, Others

The Nigerian National Petroleum Company Limited (NNPCL) has responded to reports regarding the alleged unilateral termination of a crude oil sales agreement in Naira with Dangote Refinery, insisting that it was still open to continue the arrangement on mutually beneficial terms. In a statement on Monday, NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, clarified that […]

Petrol Prices to Keep Falling Until Mid-Year, Rewane Predicts

The Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, has predicted that the price of Premium Motor Spirit (petrol) will continue to decline until June 2025. Both Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL) have significantly reduced fuel prices in recent weeks, alleviating financial pressure on millions of Nigerians who depend […]

Fuel Price Battle: NNPC Cuts Rates to Rival Dangote Refinery

Competition for market share between Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL) has intensified, with the latter reducing the price of Premium Motor Spirit (PMS) to ₦860 per litre. A market survey conducted by Channels Television on Tuesday confirmed the development. This price cut follows Dangote Refinery’s recent decision to absorb a […]

NNPCL vs. Dangote Refinery: Court to Decide on Jurisdiction Dispute

Justice Inyang Ekwo of the Federal High Court in Abuja has fixed 18 March for ruling on a preliminary objection filed by the Nigerian National Petroleum Company Limited (NNPCL) against a lawsuit brought by Dangote Petroleum Refinery and Petrochemicals FZE over an oil import licence dispute. Justice Ekwo set the date after hearing arguments from […]

Obasanjo Casts Doubt on NNPC’s Claims of Refinery Revival

Former President Olusegun Obasanjo has expressed doubts about the functionality of the Port Harcourt and Warri refineries, despite recent announcements by the Nigerian National Petroleum Company Limited (NNPC) that operations at the facilities had resumed after years of inactivity. Speaking on a national television programme yesterday, Obasanjo recalled how his administration attempted to privatise the […]

Warri Refinery Back Online: First Phase of Operations Resumes, Says Kyari

The 125,000-barrel-per-day Warri Refining and Petrochemicals Company (WRPC), located in Warri, Delta State, has resumed operations, according to the Nigerian National Petroleum Company Limited (NNPCL). This announcement was made by the Group Chief Executive Officer of NNPCL, Mele Kyari, during a facility tour on Monday. Addressing the team before the tour, Kyari said, “We are […]

NNPCL Refutes Claims of Presidential Interference in Operations

The Nigerian National Petroleum Company Limited (NNPCL) has stated that President Bola Tinubu does not interfere in its operations or influence personnel movements within the organisation. In a statement issued yesterday, the Chief Corporate Communications Officer of the NNPCL, Olufemi Soneye, emphasised that “employment, promotions, appointments, and movements of business leaders at the NNPCL are […]

Price Cuts by NNPCL and Dangote Refinery Spark Market Rivalry

The Nigerian National Petroleum Company Limited (NNPCL) has reduced the ex-depot price of petrol to ₦899 per litre, following a similar price adjustment by the Dangote Refinery. This reduction marks a significant step in the competitive landscape of Nigeria’s downstream oil sector. PETROAN, the association of petroleum retailers, praised the move as a “significant milestone” […]

200 Trucks to Load Daily as Port Harcourt Refinery’s Old Wing Resumes Operations

The presidency has announced that 200 trucks will be loading petroleum products daily from the Port Harcourt Refinery as operations resume at the facility’s Old Wing. Sunday Dare, Special Adviser on Public Communications and Orientation to the President, confirmed this development via his official X (formerly Twitter) handle on Tuesday. “The Port Harcourt Refinery has […]

Port Harcourt Refinery Begins Operations After Years of Delays

The Port Harcourt Refining Company (PHRC) in Rivers State has officially begun crude oil processing, marking a significant milestone in Nigeria’s energy sector. The announcement was made by Femi Soneye, Chief Corporate Communications Officer of the Nigerian National Petroleum Company Limited (NNPCL). “Today marks a monumental achievement for Nigeria as the Port Harcourt Refinery officially […]

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