LAGOS MARCH 16TH 9NEWSRANGERS)-The price war in the downstream oil sector continued on Thursday as the Dangote Petroleum Refinery quietly implemented a price reduction at its loading gantry, reducing the loading cost of its petrol from N825 per litre to N815 per litre. It was gathered that the new pricing structure introduced on Thursday was…
LAGOS FEBRUARY 4TH (NEWSRANGERS)-The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) says its members are now loading petroleum products from the Port Harcourt and Warri refineries. In a statement on Saturday, Joseph Obele, PETROAN’s spokesman, said the loading has doused previous doubts that the refineries owned by the Nigerian National Petroleum Company Limited…
LAGOS MARCH 28TH (NEWSRANGERS)-Petroleum product marketers and other operators in the downstream sector, have denied speculations that pump price of petrol at depot facilities have been adjusted downwards. Also, LEADERSHIP reports that petroleum outlets are still selling at prevailing market prices. Our Correspondent’s check at major depot’s in Lagos indicate that prices have not changed…
LAGOS JUNE 14TH (NEWSRANGERS)-Key players in the country’s downstream sub-sector of the oil and gas industry are seeking access to foreign exchange at a rate that will be friendly to their bottom-line. They also expressed concerns over what they described as haphazard implementation of the Petroleum Industry Act (PIA), especially, with regard to the withdrawal…
LAGOS FEBRUARY 12TH (NEWSRANGERS)-Oil marketers have threatened to close their filling stations in protest against the rejection of old naira notes by deposit money banks across the country. It was gathered that the banks issued circulars to some of the filling stations, urging them to stop accepting the old bills, as the DMBs would not…
LAGOS JULY 15TH (NEWSRANGERS)-Oil marketers yesterday unilaterally raised the pump price of petrol from N165 per litre to N185 in disregard to the Federal Government approved pump price of N165 per litre. The hike which came a day after Major Oil Marketers Association of Nigeria, MOMAN, said the current price was no longer realistic saw…
LAGOS SEPTEMBER 4TH (NEWSRANGERS)-Fuel marketers across the country adjusted their pump prices on Thursday to between N158 and N162 per litre of petrol, saying a further increase in global crude oil prices would push the pump price of petrol higher. Petrol prices have increased for three straight months, rising from N121.50–N123.50 per litre in June…
LAGOS SEPTEMBER 4TH (NEWSRANGERS)-Barely two days after electricity tariff was increased by about 300 per cent, oil marketers yesterday fixed the pump price for Premium Motor Spirit (PMS), popularly called petrol, at N162 per litre. The marketers fixed the new price following the Federal government’s announcement that the product would now be sold to marketers…