AGO PORT HARCOURT DEPOTDEPOT PRICEAVIDOR PH₦192.0SHORELINK BULK STRATEGIC PHTULCAN/TSLMASTERSLIQUID BULK₦200.0STOCKGAPNIPCO/SIGMUNDBULK STRATEGIC/NIPCOBULK STRATEGIC/TULCANTSL CALABAR DEPOTDEPOT PRICENORTHWEST AMASCOMAINLAND / PPMC₦ 190.0SAMON PET₦190.0FYNEFIELD₦190.0ALKANESYSG (YOUNG SHALL GROW)BLOKKS HYDEAZMAN/NIPCON 191.0UGO HANNAH WARRI DEPOTDEPOT PRICERAINOIL OGHARA₦ 190.5NEPAL OIL & GAS / NNPC₦ 191.0PRUDENT OGHARA₦192.0MATRIX₦191.0CYBERNETICSPINNACLEAYM SHAFA₦ 190.0 LAGOS DEPOTDEPOT PRICEAFRICA TERMINALS₦ 187.5IBACHEM₦188.5IBETO₦188.5INT. OIL & GAS₦189.0LEIGHTEN PETETERNA₦ 189.0FOLAWIYO₦ 190.0OBATCHIPETRAHAMANIYYAA ZNIPCO₦187.5AITEOAIPEC₦189.0SAHARA₦188.0EMADEB ENERGY₦ 192.0A.A RANO₦189.0WOSBAB₦...
Month: November 2019
20-11-2019
AGO PORT HARCOURT DEPOTDEPOT PRICEAVIDOR PH₦192.0SHORELINK BULK STRATEGIC PHTULCAN/TSLMASTERSLIQUID BULK₦200.0STOCKGAPNIPCO/SIGMUNDBULK STRATEGIC/NIPCOBULK STRATEGIC/TULCANTSL CALABAR DEPOTDEPOT PRICENORTHWEST AMASCOMAINLAND / PPMC₦ 190.0SAMON PET₦190.0FYNEFIELD₦190.0ALKANESYSG (YOUNG SHALL GROW)BLOKKS HYDEAZMAN/NIPCON 191.0UGO HANNAH WARRI DEPOTDEPOT PRICERAINOIL OGHARA₦ 190.5NEPAL OIL & GAS / NNPC₦ 191.0PRUDENT OGHARA₦192.0MATRIX₦191.0CYBERNETICSPINNACLEAYM SHAFA₦ 190.0 LAGOS DEPOTDEPOT PRICEAFRICA TERMINALS₦ 188.5IBACHEM₦190.0IBETO₦190.0INT. OIL & GAS₦189.0LEIGHTEN PETETERNA₦ 189.0FOLAWIYO₦ 190.0OBATCHIPETRAHAMANIYYAA ZNIPCO₦189.0AITEOAIPEC₦189.0SAHARA₦188.0EMADEB ENERGY₦ 192.0A.A RANO₦189.0WOSBAB₦...
19-11-2019
AGO PORT HARCOURT DEPOTDEPOT PRICEAVIDOR PH₦192.0SHORELINK BULK STRATEGIC PHTULCAN/TSLMASTERSLIQUID BULK₦200.0STOCKGAPNIPCO/SIGMUNDBULK STRATEGIC/NIPCOBULK STRATEGIC/TULCANTSL CALABAR DEPOTDEPOT PRICENORTHWEST AMASCOMAINLAND / PPMC₦ 190.0SAMON PET₦190.0FYNEFIELD₦190.0ALKANESYSG (YOUNG SHALL GROW)BLOKKS HYDEAZMAN/NIPCON 191.0UGO HANNAH WARRI DEPOTDEPOT PRICERAINOIL OGHARA₦ 190.5NEPAL OIL & GAS / NNPC₦ 191.0PRUDENT OGHARA₦192.0MATRIX₦191.0CYBERNETICSPINNACLEAYM SHAFA₦ 190.0 LAGOS DEPOTDEPOT PRICEAFRICA TERMINALS₦ 188.5IBACHEM₦190.0IBETO₦190.0INT. OIL & GAS₦189.0LEIGHTEN PETETERNA₦ 189.0FOLAWIYO₦ 190.0OBATCHIPETRAHAMANIYYAA ZNIPCO₦189.0AITEOAIPEC₦189.0SAHARA₦188.0EMADEB ENERGY₦ 192.0A.A RANO₦189.0WOSBAB₦...
18-11-2019
AGO PORT HARCOURT DEPOTDEPOT PRICEAVIDOR PH₦192.0SHORELINK BULK STRATEGIC PHTULCAN/TSLMASTERSLIQUID BULK₦200.0STOCKGAPNIPCO/SIGMUNDBULK STRATEGIC/NIPCOBULK STRATEGIC/TULCANTSL CALABAR DEPOTDEPOT PRICENORTHWEST AMASCOMAINLAND / PPMC₦ 190.0SAMON PET₦190.0FYNEFIELD₦190.0ALKANESYSG (YOUNG SHALL GROW)BLOKKS HYDEAZMAN/NIPCON 191.0UGO HANNAH WARRI DEPOTDEPOT PRICERAINOIL OGHARA₦ 190.0NEPAL OIL & GAS / NNPCPRUDENT OGHARA₦192.0MATRIX₦191.0CYBERNETICSPINNACLEAYM SHAFA₦ 190.0 LAGOS DEPOTDEPOT PRICEAFRICA TERMINALS₦ 190.5IBACHEM₦190.0IBETO₦192.0INT. OIL & GAS₦189.5LEIGHTEN PETETERNA₦ 189.5FOLAWIYO₦ 190.0OBATCHIPETRAHAMANIYYAA ZNIPCO₦192.0AITEOAIPEC₦189.0SAHARA₦190.0EMADEB ENERGY₦ 192.0A.A RANO₦189.0WOSBAB₦ 190.0MAO₦189.0GULF...
BREAKING: Fuel tanker explodes at Lagos-Abeokuta Expressway old toll gate, two die
Two people have been confirmed dead after a petrol tanker exploded at the old toll gate end of the Lagos-Abeokuta Expressway, around Sango, Ogun State.
The PUNCH learnt that the fire started around 12.05am.
The spokesperson for the state fire service, Muinat Adeleke-Ashimi, who spoke for the acting Director, Margaret Adeseye, said two bodies were found around 4am.
She said, “The petrol tanker skidded off the road, which resulted in the fire. Our men arrived at the scene at 12.14am.
“The fire was extinguished around 4am when two casualties were found — a male and a female.
“We are presently damping the fire.”
source: The Punch
15-11-2019
AGO
PORT HARCOURT DEPOT | DEPOT PRICE |
AVIDOR PH | ₦192.0 |
SHORELINK | |
BULK STRATEGIC PH | |
TULCAN/TSL | |
MASTERS | |
LIQUID BULK | ₦200.0 |
STOCKGAP | |
NIPCO/SIGMUND | |
BULK STRATEGIC/NIPCO | |
BULK STRATEGIC/TULCAN | |
TSL |
CALABAR DEPOT | DEPOT PRICE |
NORTHWEST | |
AMASCO | |
MAINLAND / PPMC | ₦ 190.0 |
SAMON PET | ₦190.0 |
FYNEFIELD | ₦190.0 |
ALKANES | |
YSG (YOUNG SHALL GROW) | |
BLOKKS | |
HYDE | |
AZMAN/NIPCO | N 191.0 |
UGO HANNAH |
WARRI DEPOT | DEPOT PRICE |
RAINOIL OGHARA | ₦ 190.0 |
NEPAL OIL & GAS / NNPC | |
PRUDENT OGHARA | ₦192.0 |
MATRIX | ₦191.0 |
CYBERNETICS | |
PINNACLE | |
AYM SHAFA | ₦ 190.0 |
LAGOS DEPOT | DEPOT PRICE |
AFRICA TERMINALS | ₦ 190.5 |
IBACHEM | ₦190.0 |
IBETO | ₦190.0 |
INT. OIL & GAS | ₦189.5 |
LEIGHTEN PET | |
ETERNA | ₦ 189.5 |
FOLAWIYO | ₦ 190.0 |
OBAT | |
CHIPET | |
RAHAMANIYYA | |
A Z | |
NIPCO | ₦192.0 |
AITEO | |
AIPEC | ₦189.0 |
SAHARA | ₦190.0 |
EMADEB ENERGY | ₦ 192.0 |
A.A RANO | ₦189.0 |
WOSBAB | ₦ 190.0 |
MAO | ₦189.0 |
GULF TREASURE | |
SWIFT | ₦ 190.5 |
RAIN OIL | ₦189.0 |
MENJ | ₦ 190.0 |
TECHNO OIL | |
FATGBEMS | ₦192.0 |
MRS | ₦194.0 |
DPK
PORT HARCOURT DEPOT | DEPOT PRICE |
AVIDOR PH | |
SHORELINK | |
BULK STRATEGIC PH | |
TSL | |
MASTERS | |
LIQUID BULK | |
STOCKGAP | |
CALABAR DEPOT | DEPOT PRICE |
NORTHWEST | |
AMASCO | |
MAINLAND / PPMC | |
SAMON PET | |
FYNEFIELD | |
ALKANES | |
YSG (YOUNG SHALL GROW) | |
BLOKKS | |
WARRI DEPOT | DEPOT PRICE |
RAINOIL OGHARA | |
NEPAL OIL & GAS / NNPC | |
PRUDENT OGHARA | |
MATRIX | |
A.Y. Shafa | |
LAGOS DEPOT | DEPOT PRICE |
AFRICA TERMINALS | |
IBACHEM | |
IBETO | |
INT. OIL & GAS | |
LEIGHTEN PET | ₦ 208.0 |
ETERNA | |
FOLAWIYO | |
OBAT | |
D-JONES | |
RAHAMANIYYA | |
SAHARA | |
NIPCO | |
AITEO | |
AIPEC | |
STAR SNERGY | |
EMADEB ENERGY | ₦ 207.0 |
A.A RANO | |
WOSBAB | |
MOBIL | |
CHIPET | |
BOND | ₦ 207.0 |
RAIN OIL | |
MENJ | |
INDEX | ₦ 207.0 |
MRS |
ATK
PORT HARCOURT DEPOT | DEPOT PRICE |
AVIDOR PH | |
SHORELINK | |
BULK STRATEGIC PH | |
TSL | |
MASTERS | |
LIQUID BULK | |
STOCKGAP | |
CALABAR DEPOT | DEPOT PRICE |
NORTHWEST | |
AMASCO | |
MAINLAND / PPMC | |
SAMON PET | |
FYNEFIELD | |
ALKANES | |
YSG (YOUNG SHALL GROW) | |
BLOKKS | |
WARRI DEPOT | DEPOT PRICE |
RAINOIL OGHARA | |
NEPAL OIL & GAS / NNPC | |
PRUDENT OGHARA | |
MATRIX | |
LAGOS DEPOT | DEPOT PRICE |
AFRICA TERMINALS | ₦ 206.5 |
IBACHEM | |
IBETO | |
INT. OIL & GAS | |
LEIGHTEN PET | ₦ 206.5 |
ETERNA | |
FOLAWIYO | |
OBAT | |
D-JONES | |
RAHAMANIYYA | |
INDEX | ₦ 206.0 |
NIPCO | |
AITEO | |
AIPEC | |
STAR SNERGY | |
EMADEB ENERGY | ₦ 206.0 |
A.A RANO | |
WOSBAB | |
MAO | |
CHIPET | |
BOND | ₦ 207.0 |
RAIN OIL | |
MENJ | |
MRS | |
MOBIL |
PMS
PORT HARCOURT DEPOT | DEPOT PRICE |
AVIDOR PH | |
SHORELINK | ₦133.8 |
BULK STRATEGIC PH | |
TSL | ₦133.8 |
MASTERS | ₦133.8 |
LIQUID BULK | ₦133.8 |
STOCKGAP | ₦133.8 |
CALABAR DEPOT | DEPOT PRICE |
NORTHWEST | ₦133.5 |
AMASCO | |
MAINLAND / PPMC | ₦133.28 |
SAMON PET | |
FYNEFIELD | ₦133.5 |
ALKANES | |
YSG (YOUNG SHALL GROW) | |
BLOKKS | ₦133.3 |
UGOHANNA | ₦133.3 |
HYDE | ₦133.1 |
WARRI DEPOT | DEPOT PRICE |
RAINOIL OGHARA | ₦133.0 |
NEPAL OIL & GAS / NNPC | ₦133.0 |
PRUDENT OGHARA | ₦133.0 |
MATRIX | ₦133.0 |
AYM SHAFA | ₦ 133.0 |
PINNACLE/PPMC | ₦ 132.9 |
LAGOS DEPOT | DEPOT PRICE |
AFRICA TERMINALS | |
IBACHEM | |
IBETO | |
INT. OIL & GAS | ₦132.5 |
LEIGHTEN PET | |
ETERNA | ₦133.2 |
FOLAWIYO | ₦133.3 |
SWIFT | ₦132.4 |
D-JONES | ₦131.5 |
FIRST ROYAL | ₦ 132.0 |
GULF TREASURE | ₦133.0 |
NIPCO | ₦133.0 |
AITEO | ₦133.3 |
AIPEC | ₦132.2 |
STAR SNERGY | ₦132.0 |
EMADEB ENERGY | ₦132.5 |
A.A RANO | ₦132.3 |
WOSBAB | ₦132.3 |
MAO | |
CHIPET | |
SAHARA | ₦ 133.0 |
RAIN OIL | ₦132.0 |
MENJ | ₦133.2 |
FATGBEMS | ₦132.2 |
BOVAS | ₦132.2 |
LPG
PORT HARCOURT DEPOT | DEPOT PRICE |
STOCKGAP | ₦ 4,150,000 |
SHORELINK | |
CALABAR DEPOT | DEPOT PRICE |
DOZZY | |
WARRI DEPOT | DEPOT PRICE |
PRUDENT | ₦ 4,100,000 |
MATRIX | |
LAGOS DEPOT | DEPOT PRICE |
NIPCO | N 4,200,000 |
NAVGAS | |
NNPC | |
PPMC |
14-11-2019
AGO
PORT HARCOURT DEPOT | DEPOT PRICE |
AVIDOR PH | ₦192.0 |
SHORELINK | |
BULK STRATEGIC PH | |
TULCAN/TSL | |
MASTERS | |
LIQUID BULK | ₦200.0 |
STOCKGAP | |
NIPCO/SIGMUND | |
BULK STRATEGIC/NIPCO | |
BULK STRATEGIC/TULCAN | |
TSL |
CALABAR DEPOT | DEPOT PRICE |
NORTHWEST | |
AMASCO | |
MAINLAND / PPMC | ₦ 190.0 |
SAMON PET | ₦190.0 |
FYNEFIELD | ₦190.0 |
ALKANES | |
YSG (YOUNG SHALL GROW) | |
BLOKKS | |
HYDE | |
AZMAN/NIPCO | N 191.0 |
UGO HANNAH |
WARRI DEPOT | DEPOT PRICE |
RAINOIL OGHARA | ₦ 190.0 |
NEPAL OIL & GAS / NNPC | |
PRUDENT OGHARA | ₦192.0 |
MATRIX | ₦191.0 |
CYBERNETICS | |
PINNACLE | |
AYM SHAFA | ₦ 190.0 |
LAGOS DEPOT | DEPOT PRICE |
AFRICA TERMINALS | ₦ 190.5 |
IBACHEM | ₦190.0 |
IBETO | ₦190.0 |
INT. OIL & GAS | ₦189.5 |
LEIGHTEN PET | |
ETERNA | ₦ 189.5 |
FOLAWIYO | ₦ 190.0 |
OBAT | |
CHIPET | |
RAHAMANIYYA | |
A Z | |
NIPCO | ₦192.0 |
AITEO | |
AIPEC | ₦189.0 |
SAHARA | ₦190.0 |
EMADEB ENERGY | ₦ 192.0 |
A.A RANO | ₦189.0 |
WOSBAB | ₦ 190.0 |
MAO | ₦189.0 |
GULF TREASURE | |
SWIFT | ₦ 190.5 |
RAIN OIL | ₦189.0 |
MENJ | ₦ 191.0 |
TECHNO OIL | |
FATGBEMS | ₦192.0 |
MRS | ₦194.0 |
DPK
PORT HARCOURT DEPOT | DEPOT PRICE |
AVIDOR PH | |
SHORELINK | |
BULK STRATEGIC PH | |
TSL | |
MASTERS | |
LIQUID BULK | |
STOCKGAP | |
CALABAR DEPOT | DEPOT PRICE |
NORTHWEST | |
AMASCO | |
MAINLAND / PPMC | |
SAMON PET | |
FYNEFIELD | |
ALKANES | |
YSG (YOUNG SHALL GROW) | |
BLOKKS | |
WARRI DEPOT | DEPOT PRICE |
RAINOIL OGHARA | |
NEPAL OIL & GAS / NNPC | |
PRUDENT OGHARA | |
MATRIX | |
A.Y. Shafa | |
LAGOS DEPOT | DEPOT PRICE |
AFRICA TERMINALS | |
IBACHEM | |
IBETO | |
INT. OIL & GAS | |
LEIGHTEN PET | ₦ 208.0 |
ETERNA | |
FOLAWIYO | |
OBAT | |
D-JONES | |
RAHAMANIYYA | |
SAHARA | |
NIPCO | |
AITEO | |
AIPEC | |
STAR SNERGY | |
EMADEB ENERGY | ₦ 207.0 |
A.A RANO | |
WOSBAB | |
MOBIL | |
CHIPET | |
BOND | ₦ 207.0 |
RAIN OIL | |
MENJ | |
INDEX | ₦ 207.0 |
MRS |
ATK
PORT HARCOURT DEPOT | DEPOT PRICE |
AVIDOR PH | |
SHORELINK | |
BULK STRATEGIC PH | |
TSL | |
MASTERS | |
LIQUID BULK | |
STOCKGAP | |
CALABAR DEPOT | DEPOT PRICE |
NORTHWEST | |
AMASCO | |
MAINLAND / PPMC | |
SAMON PET | |
FYNEFIELD | |
ALKANES | |
YSG (YOUNG SHALL GROW) | |
BLOKKS | |
WARRI DEPOT | DEPOT PRICE |
RAINOIL OGHARA | |
NEPAL OIL & GAS / NNPC | |
PRUDENT OGHARA | |
MATRIX | |
LAGOS DEPOT | DEPOT PRICE |
AFRICA TERMINALS | ₦ 206.5 |
IBACHEM | |
IBETO | |
INT. OIL & GAS | |
LEIGHTEN PET | ₦ 206.5 |
ETERNA | |
FOLAWIYO | |
OBAT | |
D-JONES | |
RAHAMANIYYA | |
INDEX | ₦ 206.0 |
NIPCO | |
AITEO | |
AIPEC | |
STAR SNERGY | |
EMADEB ENERGY | ₦ 206.0 |
A.A RANO | |
WOSBAB | |
MAO | |
CHIPET | |
BOND | ₦ 207.0 |
RAIN OIL | |
MENJ | |
MRS | |
MOBIL |
PMS
PORT HARCOURT DEPOT | DEPOT PRICE |
AVIDOR PH | |
SHORELINK | ₦133.8 |
BULK STRATEGIC PH | |
TSL | ₦133.8 |
MASTERS | ₦133.8 |
LIQUID BULK | ₦133.8 |
STOCKGAP | ₦133.8 |
CALABAR DEPOT | DEPOT PRICE |
NORTHWEST | ₦133.5 |
AMASCO | |
MAINLAND / PPMC | ₦133.28 |
SAMON PET | |
FYNEFIELD | ₦133.5 |
ALKANES | |
YSG (YOUNG SHALL GROW) | |
BLOKKS | ₦133.3 |
UGOHANNA | ₦133.3 |
HYDE | ₦133.1 |
WARRI DEPOT | DEPOT PRICE |
RAINOIL OGHARA | ₦133.0 |
NEPAL OIL & GAS / NNPC | ₦133.0 |
PRUDENT OGHARA | ₦133.0 |
MATRIX | ₦133.0 |
AYM SHAFA | ₦ 133.0 |
PINNACLE/PPMC | ₦ 132.9 |
LAGOS DEPOT | DEPOT PRICE |
AFRICA TERMINALS | |
IBACHEM | |
IBETO | |
INT. OIL & GAS | ₦132.5 |
LEIGHTEN PET | |
ETERNA | ₦133.2 |
FOLAWIYO | ₦133.3 |
SWIFT | ₦132.4 |
D-JONES | ₦131.5 |
FIRST ROYAL | ₦ 132.0 |
GULF TREASURE | ₦133.0 |
NIPCO | ₦133.0 |
AITEO | ₦133.3 |
AIPEC | ₦132.2 |
STAR SNERGY | ₦132.0 |
EMADEB ENERGY | ₦132.5 |
A.A RANO | ₦132.3 |
WOSBAB | ₦132.3 |
MAO | |
CHIPET | |
SAHARA | ₦ 133.0 |
RAIN OIL | ₦132.0 |
MENJ | ₦133.2 |
FATGBEMS | ₦132.2 |
BOVAS | ₦132.2 |
LPG
PORT HARCOURT DEPOT | DEPOT PRICE |
STOCKGAP | ₦ 4,150,000 |
SHORELINK | |
CALABAR DEPOT | DEPOT PRICE |
DOZZY | |
WARRI DEPOT | DEPOT PRICE |
PRUDENT | ₦ 4,100,000 |
MATRIX | |
LAGOS DEPOT | DEPOT PRICE |
NIPCO | N 4,200,000 |
NAVGAS | |
NNPC | |
PPMC |
Buhari, drop the condensate refinery idea
CONFRONTED with a long-running crisis in the petroleum downstream sector, the Nigerian National Petroleum Corporation’s latest response with plan to build two new refineries is befuddling. Unable to run its existing four profitably despite having an absolute monopoly and with the Dangote Group’s 650,000 barrels per day capacity refinery expected to come on stream soon, the NNPC’s proposal is another red herring, the latest in the determination of successive Nigerian governments to dominate the oil industry. President Muhammadu Buhari should stop this painful trend and cede control of the wholesale and retail sector to the private sector.
The announcement by the Group Managing Director of the NNPC, Mele Kyari, though eerily familiar, was still a letdown to the business community and other Nigerians who had hoped desperately for an end to their three-decade-old nightmare. The corporation, he said, would establish two new refineries, each to refine 200,000 barrels of condensate per day into petrol. Condensate is a mixture of light liquid hydrocarbons separated out of natural gas. For a company with a global notoriety as, probably, the worst performer in running refineries, this would have been laughable and quickly dismissed. But the NNPC is not an ordinary company; it is a 100 per cent state-owned enterprise, managing the country’s interest in the oil and gas industry. As revenue from oil and gas accounts for over 80 per cent of export and 65 per cent of all government revenues, the importance of the firm is stark. Except it is acting only as facilitator, not operator, this refinery idea should be dropped. Every naira the NNPC wastes deprives Nigerians of valuable resources.
Like his predecessors, Kyari is eloquent in promoting this venture. The motive, he said, is to transform Nigeria into a net exporter of refined petroleum products, complement the Dangote refinery being built in Lekki, Lagos State, and boost local production of petrol. These are laudable objectives and desirable for a country with current maximum production capacity of 2.5 million barrels of crude per day, and this of high value low sulphur content. But it is misplaced because of the NNPC’s incompetence and corruption. It is incapable of running refineries profitably.
Any practical measure to achieve refining self-sufficiency and export is welcome. Currently, however, Nigeria is the world’s laughing stock: it imports almost all its needs for refined products and this, according to the NNPC’s website, is costing between $12 billion and $15 billion annually. Some N2.95 trillion was spent on petrol imports in 2018, the National Bureau of Statistics said, while a corruption-fuelled subsidy scheme pays billions more to marketers to defray landing costs and more still for transportation to ensure price parity across the country. In 2018, the 36 state governors protested the N800 billion that NNPC claimed as subsidy annually.
This mess is created solely by the failure of the NNPC to run its four refineries profitably and the crowding out of the private sector in domestic refining. There can be no solution to the problem outside of the NNPC exiting the downstream and the government working strongly to encourage other investors to compete with Dangote, whose facility, when completed, will be the world’s fifth biggest, according to Hydrocarbons Technology, a consultancy.
The NNPC’s record is so terrible that it has no business spending taxpayers’ funds on acquiring new refineries. It should rather sell its downstream assets. By its own admission, the four refineries suffered combined operating losses of N77.15 billion in the first six months of this year, up from N68.10 billion lost in the corresponding period of 2018: their outing in June is typical; from N6.34 billion worth of crude collected, they spent N13.1 billion on freight and operational expenses, but had an output of only N2.01 billion. This is ridiculous, no private concern would sustain this and the NNPC should no longer be allowed to bleed public funds via unprofitable ventures. And this is a monopoly; the only other domestic refinery is the 1,000 barrels per day modular facility in Ogbele, Rivers State.
The Nigeria Union of Petroleum and Gas Workers recalls how past GMDs had similarly proffered fruitless solutions to the supply mess and wasted billions of naira with no improvement. NEITI reported that capacity utilisation averaged 8.55 per cent in 2015-18, while the NNPC put combined nameplate utilisation at 5.5 per cent in June 2019. From a hollow resolve to achieve 90 per cent utilisation by 2021 to using “third party financing”, to “co-location”, inviting the original builders and a stillborn Greenfield refineries project to be sited in Bayelsa, Kogi and Rivers states, Kyari is joining his predecessors to raise false hopes.
Buhari, who retains the petroleum resources ministry portfolio, should do the inevitable and save the country further agony by immediately privatising the refineries, depots, pipelines and retail outlets. Honour demands that he fulfil his 2015 campaign promise to break up the NNPC conglomerate into only two; a holding company and an investment firm.
From conception to fruition, the Dangote project is on track to take just a few years; the NNPC has hardly moved forward in 30 years, whether in capacity utilisation, new plants or domestic self-sufficiency.
Meanwhile, McKinsey, a global consultancy, estimates a drop in global demand for petrol from 1.2 per cent to 0.5 per cent between 2018 and 2035 as the West reduces dependence on road transport and gasoline-powered vehicles. To match our competitors’ investments and the contest for markets, the private sector should be unleashed; others are not wasting time. GlobalData projects that, between 2019 and 2023, Asian countries will lead in global refining capacity and capital spending on refineries; 45 new refineries are scheduled to start operations in the region involving $267 billion investments, said McKinsey.
The rest of the world is moving, while the government toys with unrealisable plans that allow monumental waste and corruption to thrive in NNPC and impoverish Nigerians. The NNPC should leave the field for reputable global players, pursue its offers to partner with Chevron and other oil majors to promote rapid refining infrastructure. It should restrict itself to very small minority stakes in the downstream and transparently sell off the four refineries through targeted sale aimed at bringing in the most capable recognised global operators to attract foreign investment, create jobs, meet domestic demand and help the country become an international refining hub.
Buhari and Kyari need to drop all notions of the NNPC ever again running a refinery.
Source: PUNCH.
13-11-2019
AGO
PORT HARCOURT DEPOT | DEPOT PRICE |
AVIDOR PH | ₦192.0 |
SHORELINK | |
BULK STRATEGIC PH | |
TULCAN/TSL | |
MASTERS | |
LIQUID BULK | ₦200.0 |
STOCKGAP | |
NIPCO/SIGMUND | |
BULK STRATEGIC/NIPCO | |
BULK STRATEGIC/TULCAN | |
TSL |
CALABAR DEPOT | DEPOT PRICE |
NORTHWEST | ₦192.0 |
AMASCO | |
MAINLAND / PPMC | ₦ 190.0 |
SAMON PET | ₦190.0 |
FYNEFIELD | ₦190.0 |
ALKANES | ₦189.5 |
YSG (YOUNG SHALL GROW) | |
BLOKKS | |
HYDE | ₦189.5 |
AZMAN/NIPCO | ₦191.0 |
UGO HANNAH |
WARRI DEPOT | DEPOT PRICE |
RAINOIL OGHARA | ₦ 190.0 |
NEPAL OIL & GAS / NNPC | ₦189.0 |
PRUDENT OGHARA | ₦192.0 |
MATRIX | ₦190.0 |
CYBERNETICS | |
PINNACLE | |
AYM SHAFA | ₦ 190.0 |
LAGOS DEPOT | DEPOT PRICE |
AFRICA TERMINALS | ₦191.5 |
IBACHEM | ₦190.5 |
IBETO | ₦190.5 |
INT. OIL & GAS | ₦190.0 |
LEIGHTEN PET | |
ETERNA | ₦ 191.5 |
FOLAWIYO | ₦ 191.0 |
OBAT | |
CHIPET | |
RAHAMANIYYA | |
A Z | |
NIPCO | ₦193.0 |
AITEO | |
AIPEC | ₦189.0 |
SAHARA | ₦192.0 |
EMADEB ENERGY | ₦ 192.0 |
A.A RANO | ₦189.5 |
WOSBAB | ₦ 192.0 |
MAO | ₦189.0 |
GULF TREASURE | |
SWIFT | ₦ 191.5 |
RAIN OIL | ₦190.0 |
MENJ | ₦190.5 |
TECHNO OIL | ₦191.5 |
FATGBEMS | ₦192.0 |
MRS |
DPK
PORT HARCOURT DEPOT | DEPOT PRICE |
AVIDOR PH | |
SHORELINK | |
BULK STRATEGIC PH | |
TSL | |
MASTERS | |
LIQUID BULK | |
STOCKGAP | |
CALABAR DEPOT | DEPOT PRICE |
NORTHWEST | |
AMASCO | |
MAINLAND / PPMC | |
SAMON PET | |
FYNEFIELD | |
ALKANES | |
YSG (YOUNG SHALL GROW) | |
BLOKKS | |
WARRI DEPOT | DEPOT PRICE |
RAINOIL OGHARA | |
NEPAL OIL & GAS / NNPC | |
PRUDENT OGHARA | |
MATRIX | |
A.Y. Shafa | |
LAGOS DEPOT | DEPOT PRICE |
AFRICA TERMINALS | |
IBACHEM | |
IBETO | |
INT. OIL & GAS | |
LEIGHTEN PET | ₦ 208.0 |
ETERNA | |
FOLAWIYO | |
OBAT | |
D-JONES | |
RAHAMANIYYA | |
SAHARA | |
NIPCO | |
AITEO | |
AIPEC | |
STAR SNERGY | |
EMADEB ENERGY | ₦ 207.0 |
A.A RANO | |
WOSBAB | |
MOBIL | |
CHIPET | |
BOND | ₦ 207.0 |
RAIN OIL | |
MENJ | |
INDEX | ₦ 207.0 |
MRS |
ATK
PORT HARCOURT DEPOT | DEPOT PRICE |
AVIDOR PH | |
SHORELINK | |
BULK STRATEGIC PH | |
TSL | |
MASTERS | |
LIQUID BULK | |
STOCKGAP | |
CALABAR DEPOT | DEPOT PRICE |
NORTHWEST | |
AMASCO | |
MAINLAND / PPMC | |
SAMON PET | |
FYNEFIELD | |
ALKANES | |
YSG (YOUNG SHALL GROW) | |
BLOKKS | |
WARRI DEPOT | DEPOT PRICE |
RAINOIL OGHARA | |
NEPAL OIL & GAS / NNPC | |
PRUDENT OGHARA | |
MATRIX | |
LAGOS DEPOT | DEPOT PRICE |
AFRICA TERMINALS | ₦207.0 |
IBACHEM | |
IBETO | |
INT. OIL & GAS | |
LEIGHTEN PET | ₦ 207.0 |
ETERNA | |
FOLAWIYO | |
OBAT | |
D-JONES | |
RAHAMANIYYA | |
INDEX | ₦ 207.0 |
NIPCO | |
AITEO | |
AIPEC | |
STAR SNERGY | |
EMADEB ENERGY | ₦ 207.0 |
A.A RANO | |
WOSBAB | |
MAO | |
CHIPET | |
BOND | ₦ 207.0 |
RAIN OIL | |
MENJ | |
MRS | ₦ 215.0 |
MOBIL |
PMS
PORT HARCOURT DEPOT | DEPOT PRICE |
AVIDOR PH | |
SHORELINK | ₦133.8 |
BULK STRATEGIC PH | |
TSL | ₦133.8 |
MASTERS | ₦133.8 |
LIQUID BULK | ₦133.8 |
STOCKGAP | ₦133.8 |
CALABAR DEPOT | DEPOT PRICE |
NORTHWEST | ₦133.5 |
AMASCO | |
MAINLAND / PPMC | ₦133.28 |
SAMON PET | |
FYNEFIELD | ₦133.5 |
ALKANES | |
YSG (YOUNG SHALL GROW) | |
BLOKKS | ₦133.3 |
UGOHANNA | ₦133.3 |
HYDE | ₦133.1 |
WARRI DEPOT | DEPOT PRICE |
RAINOIL OGHARA | ₦133.0 |
NEPAL OIL & GAS / NNPC | ₦133.0 |
PRUDENT OGHARA | ₦133.0 |
MATRIX | ₦133.0 |
AYM SHAFA | ₦ 133.0 |
PINNACLE/PPMC | ₦ 132.9 |
LAGOS DEPOT | DEPOT PRICE |
AFRICA TERMINALS | |
IBACHEM | |
IBETO | |
INT. OIL & GAS | ₦132.5 |
LEIGHTEN PET | |
ETERNA | ₦133.2 |
FOLAWIYO | ₦133.3 |
SWIFT | ₦132.4 |
D-JONES | ₦131.5 |
FIRST ROYAL | ₦ 132.0 |
GULF TREASURE | ₦133.0 |
NIPCO | ₦133.0 |
AITEO | ₦133.3 |
AIPEC | ₦132.2 |
STAR SNERGY | ₦132.0 |
EMADEB ENERGY | ₦132.5 |
A.A RANO | ₦132.3 |
WOSBAB | ₦132.3 |
MAO | |
CHIPET | |
SAHARA | ₦ 133.0 |
RAIN OIL | ₦132.0 |
MENJ | ₦133.2 |
FATGBEMS | ₦132.2 |
BOVAS | ₦132.2 |
LPG
PORT HARCOURT DEPOT | DEPOT PRICE |
STOCKGAP | ₦ 4,150,000 |
SHORELINK | |
CALABAR DEPOT | DEPOT PRICE |
DOZZY | |
WARRI DEPOT | DEPOT PRICE |
PRUDENT | ₦ 4,100,000 |
MATRIX | |
LAGOS DEPOT | DEPOT PRICE |
NIPCO | N 4,200,000 |
NAVGAS | |
NNPC | |
PPMC |
NNPC Expands Pipeline Networks to Meet Domestic Gas Demand
The Nigerian National Petroleum Corporation (NNPC) has said it is expanding and integrating gas pipeline network in the country to meet unprecedented demand of the substance.
The Group Managing Director of NNPC, Mallam Mele Kyari, disclosed this at the NNPC Day, during the just concluded 2019 Lagos International Trade Fair.
Kyari, who was represented at the event by the Managing Director, National Engineering and Technical Company (NETCO), Mrs Kate Iheme, said the corporation remains the chief enabler of the Nigerian economy.
He said with ongoing reforms, the NNPC was focused on transforming from a traditional oil and gas entity into an integrated energy outfit with interest in power generation and transmission.
Kyari said: “It is common knowledge that NNPC is expanding and integrating gas pipeline network systems to meet the unprecedented domestic gas demand nationwide.
“Towards this end, significant progress has been recorded in the execution of some key on-going gas pipeline infrastructure projects like the Escravos Lagos Pipelines System (ELPs II) and the 0B3, among other gas infrastructure projects.
“Before now, the corporation had also completed the repair of the vandalised 20-inch ELPS-A pipeline, thereby ensuring gas supply to gas-fired power plants and also supply into the West African Gas Pipeline.”
The GMD added that the NNPC downstream entities namely, the Petroleum Products Marketing Company (PPMC), the Nigerian Pipelines and Storage Company (NPSC), NNPC Retail and NNPC Shipping, had also enhanced petroleum products supply and distribution nationwide.More in Home
“The result is a sanitised fuel supply and distribution network which has thus far banished the ugly episodes of petroleum products scarcity and snaky fuel queues across the country.
“With reliable fuel supply system emplaced, commuters, businesses, transporters and other stakeholders can now engage in fruitful commercial endeavours without the perennial monster of fuel scarcity.
“This in no small way, shows how the corporation enables business activities in the country,” he said.
Kyari, however, commended the promoters of the fair, the Lagos Chamber of Commerce and Industry (LCCI) for providing businesses the opportunities to showcase their products and services.
Earlier, the President of LCCI, Mr. Babatunde Ruwase, in his welcome remarks, said the oil and gas sector plays a vital role in the Nigerian economy as it contributes 65 per cent of government’s revenue and 88 per cent of the foreign exchange earnings.
Ruwase, represented by the Deputy President of the chamber, Mrs Toki Mabogunje, added that the industry provides petroleum products for over 200 million inhabitants of Nigeria to meet their needs.
source: This Day