Naira-for-crude: Three refineries plan PMS production, Dangote awaits NNPC supply

Naira-for-crude: Three refineries plan PMS production, Dangote awaits NNPC supply

The Nigerian National Petroleum Company Limited may begin the supply of crude oil in naira to the Dangote Petroleum Refinery this week following the announcement by the Federal Government that the naira-for-crude deal has commenced. Also, following the promise by the government, three more refineries are getting set to start the production of Premium Motor Spirit, otherwise known as petrol, it was gathered on Sunday. The three refineries include the […]

October 7, 2024 19 2

NEWS

NNPC ties Dangote petrol price to forex rate

As Nigerians eagerly await the release of Premium Motor Spirit, popular known as petrol, from the $20bn Dangote Petroleum Refinery, the Nigerian National Petroleum Company Limited says it will lift the product from the plant on September 15 but outlined factors that would determine its price. It said foreign exchange rates and market forces would influence the cost of petrol, stressing that the market had been deregulated. This came as […]

September 6, 2024 12

NEWS

NNPC set to hand over Warri, Kaduna refineries to private operators

The Nigerian National Petroleum Company Limited says it is seeking to engage reputable and credible Operations and Maintenance companies to operate and maintain the Warri Refining and Petrochemical Company and the Kaduna Refining and Petrochemical Company.

August 30, 2024 5

BUSINESS

Fuel crisis lingers as NNPC seeks fresh $2bn crude-backed loan

The Nigerian National Petroleum Company Limited is in talks for another oil-backed loan to boost its finances and allow investment in its business, the Group Chief Executive Officer, NNPC, Mele Kyari, has said. Sources familiar with the situation said the oil firm aims to raise at least $2bn through the proposed new loan. In August 2023, NNPC announced that it had secured a $3.3bn emergency crude oil repayment loan from […]

July 10, 2024 42

NEWS

Fuel crisis lingers as NNPC seeks fresh $2bn crude-backed loan

The Nigerian National Petroleum Company Limited is in talks for another oil-backed loan to boost its finances and allow investment in its business, the Group Chief Executive Officer, NNPC, Mele Kyari, has said. Sources familiar with the situation said the oil firm aims to raise at least $2bn through the proposed new loan. In August 2023, NNPC announced that it had secured a $3.3bn emergency crude oil repayment loan from […]

July 10, 2024 15

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