#soneyes

[morganablenewsmedia]

Fuel Scarcity: Queues Worsen As Users Wait On

Fuel Scarcity: Queues Worsen As Users Wait On Many Parts Of Nigeria Hit Again Fuel scarcity continues to persist as many filling stations have run of the product due to supply-related issues while users wait on. Reports gathered suggest reveal that filling stations are shutting their gates against motorists and other consumers of the product due to concern over safety and security. Scarcity of…

[akeliciousmedia]

Port Harcourt Refinery Yet to Begin Bulk Sales, Says NNPCL

The Nigeria National Petroleum Company Limited, NNPCL, says the Port Harcourt Refining Company, PHRC, has not yet begun bulk sales, stating that essential processes are still being finalized. The Chief Corporate Communications Officer of NNPCL, Olufemi Soneye, made this known in a statement on Friday. According to him, the products the refinery currently sells originate from the Dangote…

[newsbreak365blogs]

Nigeria’s owned Port Harcourt Refinery has commenced processing crude oil production. The spokesperson of the Nigerian National Petroleum Company Limited, Olufemi Soneye, disclosed this on Tuesday. According to him, the refinery has kicked off with 60 percent capacity. He noted that the Refinery is processing 60,000 barrels per day of crude. The Port Harcourt refinery […]

[saynaija]

No Plan To Remove Kyari – NNPCL

No Plan To Remove Kyari – NNPCL The Nigerian National Petroleum Company Limited says there is no plan to remove the Group Chief Executive Officer of the company, Mele Kyari. The spokesperson of the NNPC, Olufemi Soneye, stated this in a chat with our correspondent on Friday. Following the major shakeup in the company on Wednesday, an international newspaper reported that Kyari might be…

[gurutrends]

Nigerian State Oil Company NNPC Announces Leadership Reshuffle

In a statement released on Wednesday night by the Chief Corporate Communications Officer, Olufemi Soneye, the company confirmed the following key appointments: Mr Adedapo A. Segun has been appointed as Chief Financial Officer (CFO), after making significant contributions as the Executive Vice President, Downstream. The Board of Directors of Nigerian National Petroleum Company Limited has…

[tracknews1]

Dangote sold fuel to us at N898 not N760 per litre – NNPCL

The Nigerian National Petroleum Company Limited (NNPCL) has revealed that Dangote Refinery sold fuel to them at N898 per litre. NNPCL began loading of it’s truck on Sunday, after moving about 300 trucks to the 650,000 capacity refinery in Lagos. But their spokesman, Olufemi Soneye, has now clarified the price at which they bought it. “We successfully loaded PMS at the Dangote Refinery today,”…

[streetreporters]

NNPC Limited Announces Petrol Prices from Dangote Refinery for September 2024, Nigerians Pay More per Litre

The Nigerian National Petroleum Company Limited (NNPC Limited) has released estimated prices for Premium Motor Spirit (PMS), commonly known as petrol, to be sourced from the Dangote Refinery in September 2024. According to a statement issued by Olufemi Soneye, Chief Corporate Communications Officer, the estimated prices vary across regions due to differences in distribution costs. In line with…

[accuratenewsng]

Dangote Refinery Petrol To Be Sold At N950-N1,019 Across Nigeria – NNPC

The Nigerian National Petroleum Company Limited, NNPC Limited has released estimated pump prices of Premium Motor Spirit, PMS also known as petrol, obtained from the Dangote Refinery, across its retail stations nationwide. In a statement issued on Monday by NNPCL Chief Corporate Communications Officer, Olufemi Soneye, the company clarified that PMS prices are not set by the government but…

[ejesgistnews]

The Nigerian National Petroleum Company Limited (NNPCL) has threatened to release documents proving its purchase of petrol from Dangote Refinery at ₦898 per litre. This statement was made by NNPCL's spokesperson, Olufemi Soneye, following a conflicting claim by Dangote Refinery, which refuted NNPCL's disclosure.   NNPCL continues to stand by its initial report, asserting that it has the documentation to support the ₦898 per litre price. This development comes after Dangote Refinery began loading its petrol on Sunday, with 70 NNPCL trucks reportedly receiving supplies. Read Also:  Dollar to Naira Black Market Exchange Rate – September 16, 2024 Latest Update Bishop Kukah: Tinubu Did Not Sign Peace Accord as Presidential Candidate This ongoing dispute is drawing attention, particularly after the federal government projected a reduction in petrol prices following Dangote Refinery's entry into the market.   The standoff between these major players has generated widespread interest as Nigerians look forward to the impact this will have on the fuel supply and pricing system.

[goldmynetv]

NNPCL announces N950.22 As Pump Price of Petrol From Dangote Refinery

Nigerian National Petroleum Company Limited (NNPCL) has officially released estimated Pump Prices of PMS from Dangote Refinery, Based on September 2024 Pricing. According to a statement signed by Olufemi Soneye, Chief Corporate Communications Officer, the NNPC said the prices are not set by Government, but negotiated directly between parties on an arms length in line with the provisions of the…

[akeliciousmedia]

NNPCL Admits Challenges Delaying P’harcourt Refinery Take-off

Barely two months after the September completion deadline flop, the Nigerian National Petroleum Commission has explained why it could not deliver the much-awaited Port Harcourt Refinery Company. In an interview with our correspondent on Monday, the NNPC Chief Corporate Communications Officer, Olufemi Soneye, said the company encountered risks and challenges while carrying out the rehabilitation,…

[jayessentialsblog]

Nigeria's National Petroleum Company Ltd (NNPCL) has stated that there is no guarantee of lower petrol prices

Nigeria's National Petroleum Company Ltd (NNPCL) has stated that there is no guarantee of lower petrol prices. When it starts moving petrol from the Dangote refinery on 15 September, the Nigeria National Petroleum Company Ltd. (NNPCL) has stated that there is no assurance of a cheaper price. The firm noted that the pricing of petroleum products from any refinery, including Dangote Refinery Ltd., is set by forces in the worldwide market in a statement issued by its spokesman, Olufemi Soneye, on Saturday, September 7. Soneye asserts that the nation's domestic product refining process does not ensure cheaper prices for consumers. Nigerian National Petroleum Company Limited (NNPC) has been criticized for allegedly monopolizing the offtake of all petroleum products from Dangote Refinery Ltd., according to a statement from Soneye. The statement comes amid rumors that NNPC is undermining Dangote Refinery Limited (DRL), claiming that recent changes to the pump price of Premium Motor Spirit (PMS) will prevent the refinery from offering lower prices and that NNPC has become the sole off-taker of all products from the refinery. Read the full article

[saynaija]

NNPCL To Sell Dangote Petrol At ₦950/Litre In Lagos, ₦1,019 in Borno

NNPCL To Sell Dangote Petrol At ₦950/Litre In Lagos, ₦1,019 in Borno The Nigerian National Petroleum Company Limited has said that it will sell the petrol lifted from the Dangote Refinery for nothing less than ₦950 per litre in Lagos. The NNPCL spokesperson, Olufemi Soneye, disclosed this on Monday, in a statement titled, ‘NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery…

[mynewshq]

NNPC conditions: Dangote refinery may dump local market, export petrol

The Dangote refinery may resort to exporting its Premium Motor Spirit (petrol) following the refusal of the Nigerian National Petroleum Company Limited to be the sole buyer of its product. The NNPC, in a statement by its spokesman, Olufemi Soneye, said on Saturday that it would not buy Dangote fuel unless it was cheaper than that of the international market. This is contrary to claims by the President of the Dangote Group, Aliko Dangote, that the refinery was waiting for the NNPC to roll out its product. On Saturday, the NNPC stated that it would only fully offtake petrol from the refinery if the market prices of PMS were higher than the pump prices in Nigeria. The NNPC also declared that Dangote and other domestic refineries were free to sell directly to any marketer on a willing buyer, willing seller basis, adding that it had no desire or intention to become the distributor for any entity in a free market environment. The company was reacting to a press release by the Muslim Rights Concern, which claimed that the Dangote refinery was being undermined by the NNPC. MURIC stated that recent changes to the pump price of petrol by the NNPC would prevent the refinery from offering lower prices, and that the corporation had become the sole offtaker of all products from the refinery. Responding, the NNPC said, “The pricing of petroleum products from any refinery, including Dangote Refinery Limited, is determined by global market forces. “The recent changes in PMS prices have no impact on DRL or any other domestic refinery’s access to the Nigerian market. In fact, if current prices are perceived as high, it presents an ideal opportunity for the refinery to sell its products at lower prices in the Nigerian market. “Furthermore, we emphasise that there is no guarantee of lower prices associated with domestic refining compared to any global parity pricing framework, as confirmed by the DRL. The NNPC Ltd will only fully offtake PMS from the DRL if the market prices of PMS are higher than the pump prices in Nigeria. The DRL and any other domestic refinery are free to sell directly to any marketer on a willing buyer, willing seller basis, which is the current practice for all fully deregulated products. NNPC Ltd has no desire or intention to become the distributor for any entity in a free market environment, and therefore, the notion of becoming a sole off-taker does not arise.” Soneye added that the NNPC could not undermine a business in which it held a billion-dollar investment. Dangote’s wait While unveiling the 650,000-capacity refinery on Tuesday, Dangote had stated that the facility would roll out petrol whenever the NNPC was ready. Dangote disclosed that petrol would get to the filling stations in the next 48 hours (from Tuesday) after all arrangements with the NNPC were concluded, adding that the queues would soon be over. “Our PMS can be in filling stations within the next 48 hours, depending on NNPCL,” he said. He spoke further, “We are ready. I pray that within the next few days, you won’t see any petroleum queues as soon as we finalise with NNPC. We are ready, we are waiting for them (NNPC) and I hope they will be ready like yesterday.” Dangote told newsmen that he could not disclose the price of the petrol because the NNPC was in a position to control it. “On the pricing, I can’t say anything because we don’t control the pricing. At the moment, it is controlled by NNPC, not Dangote. We will wait for them. But, our own for now is to make sure that the product is available and round-tripping is stopped,” he noted. The businessman emphasised that the NNPC was the company that would sell and distribute the product under the current naira crude sale arrangement. “Once the NNPC is ready, we roll. We are even ready to load a ship this week,” he added. Product export But it seems the talk between the two companies have collapsed, which may result in the company selling its petrol abroad. The NNPC has issued several statements denying that it will fix the price for Dangote or be its sole off-taker, even as the refinery has yet to roll out its product. Nigerians have wondered why the NNPC decided to hike the pump price of petrol the same day Dangote refinery unveiled its petrol, after several months of implicit subsidy payment. The masses, who were hopeful that the Dangote fuel would crash the price of petrol, may be losing hope. Speaking on the Brekete Family live show on Monday, the Vice President of Oil and Gas at Dangote Industries Limited, Devakumar Edwin, said Dangote petrol would be exported if the NNPC and other petroleum dealers in the country refused to patronise it. Asked if the petrol would be sold locally, Edwin replied, “There has been a kind of a blockade from lifting our products within the country. The traders have been trying to blockade, and so now, we have been exporting our petroleum products. We are ready to pump in PMS as much as possible to the country. “But if the traders or NNPC are not buying the product, obviously we will end up exporting the PMS as we are doing with the aviation jet and diesel,” he declared. Edwin expressed surprise that the company started facing challenges it never expected when the refinery was set to commence operations. He recalled that the philosophy initially was to add value to the raw materials available in the country, regretting that Nigeria was still exporting crude and importing refined petroleum products after over three decades. Despite having a gantry that can load 2,900 tankers per day, Edwin disclosed that the refinery had not loaded up to five per cent of the gantry’s capacity owing to low local patronage. In an interview with our correspondent, a professor of Economics at the University of Ibadan and President of the Nigerian Economics Society, Adeola Adenikinju, advised that the government and the NNPC should buy PMS from the Dangote refinery instead of importing from another country. “Dangote refinery is a private business; he will export to where he can make money. He cannot be subsidising our economy. It is still going to be cheaper for the NNPC to buy from Dangote than to import from Europe. Dangote has to run the business and pay his debts, he can’t subsidise us,” Adenikinju noted. IPMAN ready to buy fuel The Independent Petroleum Marketers Association of Nigeria on Saturday said it would buy PMS from Dangote at any price, even if the NNPC refused to buy. The National President of the association, Abubakar Maigandi, told our correspondent that the independent marketers were ready to patronise Dangote. “Whatever the case, if Dangote starts selling his product, we are going to patronise him; if at all he wants to do business with us. “We are ready to buy at any price because the NNPC is saying that they don’t want to involve themselves in fixing prices. So, at any price that he wants to sell, we are ready to buy and discharge and sell at a good price,” Maigandi stated. Members of IPMAN own about 80 per cent of the filling stations in Nigeria, especially in rural communities. On Thursday, the NNPC also said it was waiting for a September 15 timeline given to it by the refinery. However, the latest comments from the NNPC indicate all is not well with the negotiations between the two companies. The spokesman for the Dangote Group, Anthony Chiejina, did not answer calls or reply messages sent to him by our correspondent on Saturday. Black marketers sell fuel N1,400 in Benue Meanwhile, black marketers are making brisk business as most filling stations in Makurdi, the Benue State capital, closed for business. Since the hike in the price of the petroleum product, many filling stations have been shut down while the black market has resurfaced. Our correspondent, who monitored the situation in Makurdi on Saturday, observed that several filling stations were not operating while black marketers were using their frontage to sell the product to motorists. The product was sold between N1,300 and N1,400 per litre. This development resulted in few vehicles plying the roads, while transport fares skyrocketed and  people resorted to trekking. Motorists crowd NNPC stations for fuel Despite the promise made by the Minister of State for Petroleum Resources, Heineken Lokpobiri, that fuel would be available in filling stations by the weekend, the situation in Ondo State has not improved. A visit to some filling stations in Akure, the state capital, showed that many petrol stations were still under lock and key following unavailability of the product, while NNPC stations with the product had long queues. Also, some stations of the independent marketers were selling for between N950 and N1,100 per litre. In Ekiti State, many petrol stations dispensed petrol to customers, while a few did not have the product. But the price was between N950 and N1,200 per litre at the stations dispensing petrol. Long queues of vehicles were at the few stations selling the product at between N950 and N960 per litre. A self-employed man, Mr Abel Olode, who said he bought some litres of petrol for N960 per litre on Friday, said, “I parked the car at home and boarded a motorcycle to my place of work today. Using it daily will drain my finances.” Filling stations belonging to major marketers in Ogun State sold fuel for between N868 and N890 per litre, while independent marketers sold for between N950 and N1,200 per litre. The NNPC outlets, however, sold at N865 per litre. A motorist, Adeolu Bashir, said, “Nothing has changed with the fuel situation. The independent marketers are selling the fuel for N1,200; meanwhile, not many of the filling stations are selling the product.” As of September 7, 2024, independent marketers in Ibadan, the Oyo State capital, were dispensing fuel at N1,100 and N1,200 per litre. There were no long queues in most of the filling stations in the city Long queues still persisted in most of the filling stations in Zamfara State, despite the hike in fuel price. Most of the filling stations, controlled by IPMAN in Gusau town and other parts of the state, were selling a litre of fuel between N1,100 and N1,150. There was no fuel in all the mega stations visited by Sunday PUNCH as of the time of filing this report. Despite the scarcity of PMS in some states, the product seemed to be available in most filling stations across the 13 LGAs of Nasarawa State. When our correspondent visited some of the stations in Lafia, the state capital, on Saturday, it was observed that there were no queues. The prices of PMS in Obi, Awe, Keana, Doma, Toto and Nassarawa Eggon LGAs had skyrocketed to N1,100 per litre. Filling stations such as Sandaji, Hayattu, Alh Dauda Muhammadu, Nagoda, Rainoil among others, all sold at N990 per litre. Meanwhile, the product is currently being sold between N1,200 and 1,400 by the black market dealers in several locations across the state. In an interview with our correspondent, one of the black marketers, Musa Inusa, said getting the product had become “extremely difficult” for him because of the strict restrictions and increase in price. Read the full article

[tracknews1]

NNPCL gives update on Dangote Refinery petrol price, purchase

The Nigerian National Petroleum Company Limited has revealed that it is negotiating purchase of Premium Motor Spirit (petrol) with Dangote Refinery ahead of Sunday, September 15, 2024. The Spokesperson of NNPCL, Olufemi Soneye disclosed this to Newsmen in an interview on Thursday. Soneye was responding to a statement by the Vice President of Dangote Industries Limited, Devakumar Edwin that local…

[smlblogtv]

Petrol Prices Set to Soar? Inside NNPCL’s Financial Turmoil

The announcement of the Nigerian National Petroleum Corporation Limited (NNPCL) on being unable to sustain fuel supply is a game plan, according to experts. On Sunday, Chief Corporate Communications Officer of the NNPCL, Olufemi Soneye, admitted that the national oil company is owing suppliers, but did not specify the exact amount. “NNPC Ltd has acknowledged recent reports in national newspapers…