Tag: NNPC

  • Dangote Refinery Refutes Claims of NNPC Petrol Lift at ₦897/Litre

    Dangote Refinery Refutes Claims of NNPC Petrol Lift at ₦897/Litre

    BY  Milcah   Tanimu

    Dangote Petroleum Refinery has strongly denied recent media reports alleging that the Nigerian National Petroleum Corporation (NNPC) has begun lifting petrol from its facility at ₦897 per litre. The refinery, which is set to commence operations soon, clarified that no such transaction has occurred and labeled the reports as misleading.

    In a statement released on September 4, 2024, Anthony Chiejina, Group Chief Branding and Communications Officer of Dangote, emphasized that NNPC has not yet started lifting Premium Motor Spirit (PMS) from the refinery. Furthermore, no pricing has been set as the contracts between Dangote Refinery and NNPC are still under negotiation.

    “The issue of fixing the price of petrol does not arise as we have not finalized our contract with NNPC,” Chiejina explained. He further stressed that fuel pricing is regulated by the government and not by Dangote Refinery.

    Dangote Group reassured the public that once operational, the refinery will provide high-quality petroleum products across Nigeria. The company urged Nigerians to disregard the inaccurate headlines and rely on official updates for accurate information.

    For more details, visit [Dangote Group](https://www.dangote.com).

     

  • ExxonMobil/NNPC JV inaugurate Host Community Trusts in A’Ibom

    By Ogenyi Ogenyi, Uyo

    Acting in compliance with the Provisions of the Petroleum Industry Act, Mobil Producing Nigeria Unlimited, a subsidiary of ExxonMobil and operator of the Nigerian National Petroleum Company Limited (NNPC)/MPN Joint Venture yesterday inaugurated two Host Community Development Trusts in Akwa Ibom State.

    They include the Incorporated Trustees of NNPC/MPN JV EMOIMEE Host Community Development Trust (Eket, Mbo, ONNA, Ikot Abasi, Mkpat Enin, Esit Eket and Eastern Obolo communities), and the Incorporated Trustees of NNPC/MPN JV Ibeno Host Community Development Trust (Ibeno community).

    At the unveiling ceremonies in Eket, General Manager, Joint Venture Operations of Mobil Producing Nigeria Unlimited, Mark Fraser, said the inauguration events signal a significant milestone for the NNPC/MPN JV and its host communities in the state as it sets in motion the commencement of a new era of organic and sustainable community development.

    “With the inauguration of these Trusts, our communities in Akwa Ibom State will now be in the driver’s seat and determine the pace, nature and impact of community development projects and programs in the respective host communities.

    “We are delighted that the collaborative efforts involving our company, partner, communities, regulator and state government have resulted in the success we are witnessing today.

    “We are confident that with the quality of individuals selected by the communities to serve on the Trusts, the people will enjoy the benefits as envisioned by the framers of the Petroleum Industry Act. The ultimate objective is for the Trusts to help enhance peace and further accelerate development and prosperity in our host communities.” Fraser said.

    He disclosed that the Joint Venture has enjoyed a mutually beneficial relationship with the host communities and has continued to play its part through significant revenue contributions and community development initiatives, noting that the JV has consistently remained the highest private sector employer of labour in the state.

    In a remark, Chief Upstream Investment Officer,NUIMS, Bala Wunti represented by the Manager, Stakeholder Relations, NNPC Upstream Investment Management Services, Julie Utang, commended stakeholders for successfully harmonizing various interests, culminating in the eventual incorporation of the two Trusts.

    According to Wunti, “as we get into the next phase, we should remain guided by the provisions of the enabling Act and regulations, ensuring we sustain our collaborations to derive optimal value.”

  • “IPMAN calls for refinery emergency as petrol prices surge “

    “IPMAN calls for refinery emergency as petrol prices surge “

    Following the recent surge in pump prices of Premium Motor Spirit (PMS or petrol), with some petrol stations in Port Harcourt selling at an exorbitant rate of N620 per litre due to an increment in ex-depot prices by NNPC Ltd., the Independent Petroleum Marketers Association of Nigeria (IPMAN) has made a fervent call to the Federal Government.

    Dr. Joseph Obele, the IPMAN Chairman in Rivers State, expressed deep concern over the situation, revealing that NNPC, being the sole importer of fuel in the country, has raised the ex-depot price from N487.7 per litre to N567.7 per litre.

    Obele emphasized that this unprecedented increase in fuel prices would have severe repercussions on the already burdened masses, leading to heightened suffering. In light of this crisis, he urgently urged President Bola Ahmed Tinubu to declare a state of emergency on Nigeria’s four refineries.

    The IPMAN Chairman asserted that the new fuel prices would bring unprecedented hardships to both citizens and marketers, necessitating the sourcing of additional trading capital to sustain their businesses. He also expressed concerns that the soaring inflation index would further strain the already fragile Nigerian economy.

    According to Obele, the most viable and long-term solution to this recurring problem lies in the refurbishment and revitalization of the nation’s refineries. He firmly believes that a state of emergency declaration on the refineries by the President would pave the way for much-needed reforms and sustainable solutions.

    The current situation demands urgent and proactive measures to alleviate the plight of the citizens and mitigate the adverse effects on the nation’s economy. IPMAN’s call for immediate action on the refineries seeks to address the root cause of the issue and ensure a stable and affordable fuel supply system for the Nigerian people.

  • Octavus vehemently denies accusations of providing tainted aviation fuel to Max Air

    Octavus vehemently denies accusations of providing tainted aviation fuel to Max Air

    In response to recent allegations regarding the supply of contaminated aviation fuel to Max Air, Octavus firmly denies these claims. As a reputable aviation fuel supplier, we maintain the highest standards of quality and integrity in our operations.

    We want to emphasize that these accusations are baseless and without merit. Octavus adheres strictly to international standards and industry best practices in fuel supply and distribution. Our products are sourced exclusively from trusted partners such as NNPC and British Petroleum (BP), ensuring their reliability and safety.

    We take pride in our role as a major supplier to both Nigerian and international carriers, delivering high-quality aviation fuels with utmost care. While unfortunate incidents involving Max Air’s aircraft have occurred, there is no evidence linking the fuel supplied by Octavus to these occurrences. In fact, we have successfully fueled numerous Max Air Hajj flights without any issues.

    It is worth noting that we handle a significant volume of flights daily, and we have received no complaints about the quality of our products. Our track record and the trust placed in us by Airlines Operators of Nigeria (AON), who nominated us multiple times to handle the NNPC Intervention cargoes, attest to our reliability.

    Given the complexities of aviation operations, it is vital to conduct a comprehensive investigation to determine the actual cause of these incidents. Octavus fully cooperates with the Nigerian Civil Aviation Authority (NCAA) and other relevant authorities in conducting a thorough inquiry.

    We prioritize the safety of the aviation industry and remain committed to upholding the highest safety and quality standards for our fuel products. As a responsible corporate entity, Octavus assures our valued clients and the public that we will leave no stone unturned in establishing the truth behind these allegations. We will continue working closely with regulatory bodies to ensure the utmost safety and integrity in the aviation sector.

  • BREAKING: NNPC Increases Fuel Price To N617/litre

    BREAKING: NNPC Increases Fuel Price To N617/litre

    The price of Petrol has increased to about N617 per litre.

    A visit to an NNPC filling station in the Central area of Abuja by this reporter confirmed that the fuel price has now been adjusted from N539 to N617 per litre.

    Another Customer who confirmed this development to Daily Trust simply said “It is true, I just bought at N617 per liter,”

    The immediate reason could not be ascertained but it is not unconnected to the recent projections by oil marketers that fuel price will hit N700 per litre soon.

    The Nigeria Midstream and Downstream Petroleum Regulatory Authority (NDMPRA) is yet to comment to Daily Trust enquiry as at the time of filling this report.

    Details later…..

  • Subsidy Removal Will Reduce Fuel Consumption By 30% – NNPC

    Subsidy Removal Will Reduce Fuel Consumption By 30% – NNPC

    The Nigerian National Petroleum Company Limited (NNPC) has disclosed that with the subsidy removal policy now being fully implemented, the volume of petrol consumed daily in Nigeria may drop by 30 per cent.

    The country has a history of unreliable fuel consumption data, even as the current figure is estimated to be currently between 66 million litres per day and 70 million litres per day. It is believed that many of the imported product is smuggled out of the country.

    Speaking on a live television programme, the Group Chief Executive Officer of the national oil company, Mallam Mele Kyari, admitted that Nigeria has no accurate data on fuel consumption, adding however, that the country knows the actual volume evacuated from the depots.

    “I don’t think there is any credible data on consumption, but there is credible data on evacuation from the depots. They are very distinct. So every truck that leaves the depots in this country is known – the truck number, the driver, and the destination of that product are known.
    “We have numbers around this and those numbers are what we assume is our consumption. But we know that this may not be our consumption figure because we know that petroleum products are smuggled across the country,” he stated.

    Kyari admitted that not all the petrol imported into Nigeria is consumed within the country, stressing that the arbitrage situation caused by the subsidy regime was to blame for the anomaly. “We’re actually subsidising everybody else in West Africa,” he added.
    Explaining that even those who secure the Nigerian borders are “not angels,” Kyari argued that there was a huge incentive to smuggle the fuel because the gains are enormous.

    Kyari also said that Nigeria’s neighbouring countries can now legitimately import fuel from Nigeria, rather than utilise the smuggling route.
    According to him, to take advantage of the situation, Nigeria will now convert smuggling to a legitimate market because the objective is to be the supplier to West Africa and the surroundings.

    “In a subsidy regime, in an arbitrage environment, which we have – wherever it is, you cannot eliminate fraud. Because it’s not possible.
    “What this action of taking subsidy off has done is that it will bring down the evacuation from the depot because even when you round-trip, you go across the border, it is the market price, and therefore there’ll be no incentive for that. And I believe that 30 per cent of the volume that we see today will probably vanish,” he added.

    Kyari lamented that it has been very difficult, if not practically impossible to transport petroleum products through the pipelines because of the activities of vandals around the country.
    He said at one point, the NNPC and partners were losing about 34 per cent of products pumped into the pipelines, a development he said was unsustainable.
    On the commencement of in-country refining by the NNPC, Kyari noted that it would only be possible from December, explaining that there were delays in bringing in equipment, which further extended the completion time of the refineries.

    He said the plan was to get all the refineries within the country to start working from the first half of next year to complement the Dangote refinery, which will make Nigeria a net exporter of petrol to West African countries.
    “It (Port Harcourt refinery) will come on stream by the end of the year. We had some supply chain issues, which is a global problem and I’ve explained this over and over.

    “There is a crisis in the global marine sector. Getting these things to location is a huge challenge and we have had some delays in the delivery of some of our equipment, but the equipment has arrived, work is in progress, and will deliver on this,” he said.
    The GCEO promised that by the end of July, Nigeria would be able to produce about 1.6 million barrels per day and thereafter hit the 1.8 million barrels per day allocated to the Organisation of Petroleum Exporting Countries (OPEC) quota.

    He stated that the NNPC was working on the Atlas Cove facility and was proceeding to get back the line into Mosimi.
    Kyari stressed that it had become so bad that in the last 17 years, the NNPC had not been able to pump products from Warri to even Benin, Edo State.

  • Fuel Subsidy: NLC Frowns At NNPC Latest Pump Price

    Fuel Subsidy: NLC Frowns At NNPC Latest Pump Price

    The Nigerian Labour Congress (NLC) on Wednesday frowned at the adjustment of pump prices by the Nigerian National Petrol Company Limited.

    Barely 48 hours after President Bola Tinubu announced an end to the subsidy era during his inaugural speech at Eagle Square, Abuja on Monday, the NNPCL confirmed the hike in the pump price of Premium Motor Spirit also known as petrol.

    Since the presidential pronouncement, fuel queues have resurfaced across the country as Nigerians forage for the premium product which was rose from around N185 per litre to between N400 and N600 per litre.

    Worried by the situation, the NLC President, Joe Ajaero, issued a statement expressing worry that the national oil company would announce an increment.

    Describing the development as unfortunate, Ajaero said the NNPCL’s action was coming on the heels of an ongoing meeting with stakeholders in the oil and gas sector to manage the unilateral but unfortunate announcement by the President.

    “It is therefore unacceptable and we seriously condemn it. Good faith negotiation is key to reaching agreement. What the government has done is like holding a gun to the head of Nigerian people and bringing undue pressure on the leaders thus undermine the dialogue,” the NLC President said.

    “We call on the federal government to immediately instruct the NNPC to withdraw this vexatious Pricing template to allow free flow of discussions by the parties. Nigerians would not accept any manipulations of any kind from any of the parties especially from the representatives of the Government.

    “Our commitment to this process is buoyed on the fact that all the parties would be committed to ensuring that it is carried out within the ambits of liberty without undue pressure. The release of that Template may not allow us to continue if nothing is done to withdraw it so that the dialogue can continue unhindered. It is clear that Government is actually trying to scuttle the process.”

  • NNPC To Resume Oil Search In Lake Chad Next Week – Kyari

    NNPC To Resume Oil Search In Lake Chad Next Week – Kyari

    Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC), Mele Kyari has said that they will resume oil search in Lake Chad next week.

    Kyari who made the announcement on Monday, May 15, during a courtesy visit to the Abuja headquarters of Media Trust Group (MTG), said oil search in the Lake Chad basin was stalled for over five years due to insurgency in the North East.

    He said the discovery of oil in viable commercial quantities in Kolmani River (upper Benue trough) between Gombe and Bauchi states last November gave positive signals for more efforts in Lake Chad.

    Kyari said;

    “It was the Kolmani that helped us to locate a position in Nasarawa State. It is the same reason that by next week, we’ll spud in another well in the Chad Basin. Mr President directed us over a year ago that we should go back to the Chad Basin and continue exploration work.

    “Security of our workers is the most important element of our work. We have assessed the environment and we know that substantial peace has been regained in the Chad Basin. Communities have returned to their locations and their villages. You do not hear of incidents and there is substantial containment of this.

    “And we’re also working very closely with the security agencies; the state government to make sure that staff are safe, our equipment are safe. I will have no doubt that the safety of our staff is assured and that’s why we are going back because there is relative safety in the location.”

    On the status of the discovered oil in Kolmani and the search in Ebenyi A, Kyari said;

    “Our first focus is to deliver the in situ refining experiment and when Mr President flagged off the Kolmani River well, we promised we will get it done in 36 months and we’ll deliver it. Our rig is drilling in Nasarawa and our team is on site, continuously working and we are very optimistic.”

  • Oil Production Rises To 1.6m bpd, Says Mele Kyari

    Oil Production Rises To 1.6m bpd, Says Mele Kyari

    The Nigerian National Petroleum Company Limited (NNPCL) has confirmed that the country’s oil production has risen to 1.6 million barrels per day, a few millions short of the 1.8 million bpd quota allocated by the Oil Producing Countries Organisation (OPEC).

    Revealing this at a meeting of stakeholders in the oil and gas industry, called to discuss the challenges of crude oil theft and losses affecting the oil and gas industry, the Group Chief Executive Officer of NNPC, Mr Mele Kyari, said that the rectangular security approach, comprising NNPC and Partners, Regulators, Government Security Operators and the Communities, boosted by the adoption of technology, ensured the recovery of production from what it was in July 2022 to 1.67 million barrels per day.

    Kyari, who was represented by the NNPCL Chief Upstream Investment Officer, Bala Wunti, at the event chaired by Vice President Yemi Osinbajo, said the implementation of the Detect, Deter, Destroy, and Recover (3D strategy), the establishment of the Central Command and Control Centre for effective monitoring and coordination, the launch of the Whistle-Blowers Portal and the Crude Oil Validation Portal as well as the deployment of some of the best-in-class surveillance tools and technology have been a game changer in the fight against crude oil theft and vandalism.

    The NNPCL boss stated that a key element of the collaboration has been the onboarding of the Private Security Contractors from the host communities, which were hitherto isolated.

    He said the security contractors’ in-depth knowledge of the terrain and modus operandi of the criminals have led to massive discoveries of illegal connections and interception of vessels ferrying stolen crude oil.

  • NNPC Confirms Oil Discovery in Nasarawa, To Start Drilling in March

    NNPC Confirms Oil Discovery in Nasarawa, To Start Drilling in March

    Nigerian National Petroleum Corporation (NNPC) Limited has confirmed the discovery of oil in Nasarawa State.

    NNPC disclosed this in a series of tweets on Friday, after a visit to Kyari by the Governor of Nasarawa State, Abdullahi Sule, saying the official spud-in of first oil well in the state will commence in two months.

    “Group CEO @nnpclimited @MKKyari announced today that the official spud-in of first oil well in Nasarawa State will commence in March 2023. This, according to @MKKyari, is in continuation of hydrocarbon exploration activities in Nigeria’s inland basins.

    “@MKKyari disclosed this while receiving in audience a delegation of prominent Nasarawa State indegenes, led by the State Governor, Engr. Abdullahi Sule at the #NNPCTowers, Abuja, earlier today,” the corporation said.

    This comes less than two months after President Muhammadu Buhari flagged off the Kolmani Integrated Development Project in the North-East.

    Buhari said the oil exploration at the Kolmani River located between Gombe and Bauchi states had already attracted over $3bn foreign direct investment and will boost Nigeria’s fortunes and earnings.

    The project is expected to start with a daily production of about 50,000 barrels of crude oil.

    The President had flagged off the spud-In of Kolamani River II in February 2019 three years after he gave directives for the resumption of oil exploration in the northern part of the country.