Tag: NNPCL

Naira-Crude Contract Under Discussion Between NNPCL and Dangote

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NNPCL and Dangote Refinery have commenced negotiations to renew their naira-for-crude oil agreement, which is scheduled to expire on March 31, 2025. This move follows the refutation by NNPCL of reports alleging the deal’s suspension until 2030. NNPCL clarified that the initial agreement, a six-month pilot program initiated in October 2024, saw Dangote Refinery receiving 48 million barrels of crude oil, valued at approximately N486.31 billion between October and December 2024, with a total of 84 million barrels supplied since the refinery’s 2023 launch. Olufemi Soneye, NNPCL’s Chief Corporate Communications…

NNPCL Mulls Fresh Petrol Price Cut Amid Rivalry With Dangote Refinery, MRS

Richard
NNPCL Mulls Fresh Petrol Price Cut Amid Rivalry With Dangote Refinery, MRS

The Nigerian National Petroleum Company Limited (NNPCL) is considering a new reduction in the price of Premium Motor Spirit (PMS), popularly known as fuel or petrol, following the MRS filling station’s announcement of a price cut in collaboration with Dangote Refinery on Monday. This development comes after the MRS filling station announced a price reduction for the first time in 2025. The oil company recently stated on its official X account that the new pump price has decreased to N925 per litre in Lagos, with prices of N933 in the…

Warri refinery undergoes maintenance one month after resuming operation

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Barely a month after announcing the commencement of the 125,000 barrels Warri refinery, the Nigerian National Petroleum Company Limited has said the facility is undergoing a planned routine maintenance programme aimed at ensuring optimal operations. It also denied reports of an explosion at the Warri Refining and Petrochemical Company. The company, in a statement signed by the Chief Corporate Communications Officer, Olufemi Soneye, on Friday, said operations at WRPC were halted to carry out repairs for efficient service delivery. He added that routine maintenance was progressing and operations would be…

Obasanjo Never Wanted Any State-owned Refinery To Work – Group Asserts

Richard
Obasanjo Never Wanted Any State-owned Refinery To Work – Group Asserts

The Movement for Anti-Corruption, Integrity, and Transparency Initiative has expressed its disapproval of the recent remarks made by former President Olusegun Obasanjo regarding state-owned refineries. Obasanjo had stated that the Nigerian National Petroleum Corporation (NNPC) turned down a $750 million proposal from billionaire entrepreneur Aliko Dangote to oversee the Port Harcourt and Kaduna refineries in 2007. The former president shared this information during an exclusive interview with Channels Television. Obasanjo stated that the NNPC was aware of its inability to effectively manage the national refineries yet chose to reject Dangote’s…

NNPCL Invites Obasanjo For Tour Of Port Harcourt Refinery

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NNPCL Invites Obasanjo For Tour Of Port Harcourt Refinery

The Nigerian National Petroleum Company Limited (NNPCL) has extended an invitation to former President Olusegun Obasanjo to visit the Port Harcourt Refinery. As stated in a release on Thursday, the NNPCL mentioned that this initiative is intended for Obasanjo to assess the operational condition of the oil processing plant located in Rivers State. In a discussion with Channels Television, Obasanjo raised concerns about the operational capabilities of the Port Harcourt Refinery, which has recently resumed operations. Nonetheless, the NNPCL highlighted its accomplishments and encouraged Obasanjo to inspect the facility. “We…