•Fuel pump Petroleum marketers may require about $1.84 billion every month to purchase petrol, diesel and aviation fuel from Dangote Petroleum Refinery following the company’s decision to price refined petroleum products in dollars, a development analysts warned could increase pressure on Nigeria’s foreign exchange market, test liquidity posit...
Dangote Petroleum Refinery’s decision to price Premium Motor Spirit (PMS), diesel and aviation fuel in U.S. dollars has sparked widespread debate about its implications for fuel prices and exchange rate market. While the announcement triggered fears of an immediate increase in petrol prices, the reverse is actually the case, reports Daily Trus...
Global oil prices have fallen to levels last seen before the US-Iran war, raising expectations among consumers and businesses for a corresponding reduction in the price of petrol. However, pump prices across Nigeria have largely remained unchanged, prompting concerns over the pace at which global market gains are being transmitted to domestic ...
•PETROAN President, Billy Gilly-Harris Oil marketers have called for liberalisation of the downstream sector, where other players with licenses will be allowed to import more Premium Motor Spirit (PMS) or petrol into the country. National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-H...
•Air India crash Fuel control switches to the engines of an Air India flight that crashed shortly after takeoff, killing 260 people, were moved from the “run” to the “cutoff” position moments before impact, a preliminary investigation report said early today. The report, issued by India’s Aircraft Accident Investigation Bureau (AAIB), did not ...
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has welcomed the recently announced plan by the Dangote Refinery to distribute petrol and diesel free of charge to marketers across the country. Speaking on Channels Television today, IPMAN’s National Publicity Secretary, Chinedu Ukadike, praised billionaire businessman Aliko D...
•Dangote Six vessels carrying about 1.7 million barrels of jet fuel from the Dangote refinery arrived at U.S. ports this month, data from ship-tracking service Kpler showed. Another vessel, Hafnia Andromeda, is set to arrive at the Everglades terminal on March 29 with a load of about 348,000 barrels of jet fuel, the data showed. […]
Some residents of Sabo Market, Orile Igbon, along the Ogbomoso-Ilorin expressway in Oyo State last night allegedly attacked firefighters for preventing them from siphoning fuel from a fallen petrol-laden tanker. The tanker, carrying 33,000 litres of Premium Motor Spirit (PMS), had suffered a tyre burst, resulting in a spillage and subsequent f...
•Dr. Olukemi Afolayan The National Orientation Agency (NOA), Oyo State Directorate, has warned Nigerians of the dire consequences of scooping fuel from fallen tankers. According to Dr. Olukemi Afolayan, Oyo State Director, in a statement by Head, Media, Oyo State NOA Isiaka Kehinde, “Scooping fuel from a fallen tanker can be deadly, causing fi...
•Petrol stations …Being Nigerian Tribune Editorial today Not a few Nigerians, especially motorists and vehicle owners, were delighted when the price of fuel which had continually spiked was reduced by two of the major suppliers of the product, namely the Nigeria National Petroleum Corporation Limited ( NNPCL) and Dangote Refinery Ltd, to...
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