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08024545197The Federal Government has commenced high-level discussions with Dangote Petroleum Refinery over its recent decision to denominate petroleum product sales in United States dollars, with both parties working towards a framework that could see the refinery resume domestic sales in naira, Petroleumprice.ng has exclusively gathered.
Libya's National Oil Corporation (NOC) and Austrian energy firm OMV have declared the "Essar" oil discovery in the Sirte Basin commercially viable, a decision that advances Libya's campaign to rebuild its upstream sector with the help of returning international oil majors.
Fresh cargoes of Premium Motor Spirit (PMS), Automotive Gas Oil (AGO), Liquefied Petroleum Gas (LPG), butane and aviation fuel are scheduled to berth at key petroleum depots across Lagos, Warri and Port Harcourt between July 13 and July 17, as marketers move to replenish inventories amid rising global freight costs and continued uncertainty in international oil markets.
Dangote Petroleum Refinery has suspended gantry loading of Premium Motor Spirit (PMS), forcing trucks already positioned for product lifting to leave the facility, while several marketers simultaneously halted petrol sales across their depots, Petroleumprice.ng market intelligence has gathered.
Truckified.ng, a Lagos-based logistics company, has commenced recruitment for four positions as part of efforts to strengthen its operations, with applications closing on the 15th of July, 2026.
Nigeria's downstream petroleum sector has long operated without price visibility, leaving traders, marketers and consumers to navigate a market where critical information was routinely withheld. In under two years, Petroleumprice.ng has made significant strides in changing that. Olatide Jeremiah, Chief Executive Officer of Petroleumprice.ng, spoke to Petroleumprice.ng about the platform's growth, its role in fuel price transparency, Dangote Refinery's growing presence in domestic fuel supply, and the ongoing court battle over import licences.
Iran's negotiating delegation suspended participation in peace talks with the United States in Switzerland on Sunday in protest over public statements made by US President Donald Trump during the negotiations.
Dangote Refinery has reversed its earlier upward adjustment on Premium Motor Spirit (petrol), reverting the ex-depot gantry price back to ₦1,275 per litre.
The Nigerian National Petroleum Company Limited has signed a new agreement with China Machinery Engineering Corporation in what is clearly another serious attempt to bring the Port Harcourt and Warri refineries back to life after years of failed rehabilitation efforts and repeated shutdowns.
Nigeria’s downstream petroleum market is witnessing a fresh shift as the Dangote Petroleum Refinery has reportedly streamlined its petrol loading operations to just 20 approved major marketers, effectively sidelining many independent marketers who had previously been lifting products from the facility.
For months, Nigerians watched cooking gas prices climb relentlessly, draining household budgets and forcing many families back to firewood, charcoal and kerosene. By November 2025, the price of liquefied petroleum gas (LPG) had crossed psychological and economic breaking points in several cities, selling for as much as ₦2,000 per kilogram and above. Then, quietly but
An overnight tanker explosion on the Abeokuta–Sagamu Expressway has left many feared dead, with rescue teams still working at the scene as of Friday morning. The accident happened around 1 a.m. when a 33,000-litre petrol-laden tanker overturned after excessive speeding. The crash spilled fuel across the highway, and the impact ignited a blaze that spread
Dangote Petroleum Refinery has raised its ex-depot petrol price to ₦850 per litre, up from the previous ₦820. The new price, tracked by Petroleumprice.ng, took effect as the refinery resumed loading operations on Thursday, exactly one week after halting Premium Motor Spirit (PMS) sales. The week-long suspension left dealers uncertain. The usually busy 650,000-barrels-per-day facility,
The Nigerian National Petroleum Company Limited (NNPCL) has once again adjusted petrol pump prices upward in Lagos, with stations now dispensing Premium Motor Spirit (PMS) at ₦925 per litre, an increase of ₦10 from ₦915 reported just 24 hours earlier. However, NNPCL stations in Abuja have yet to reflect any changes and continue selling at
The shutdown of the Port Harcourt Refinery has now entered second month, and frustration continues to grow among Nigerians as the Economic and Financial Crimes Commission (EFCC) digs deeper into an alleged $7.2 billion fraud tied to refinery rehabilitation. This development comes just one day after EFCC operatives arrested Umar Ajiya Isa, former Chief Financial
Independent marketers are raising the alarm over what they describe as exploitative and unregulated charges imposed by the Petroleum Tanker Drivers Branch (PTD) of NUPENG for product loading at Lagos depots. Despite the industry’s recent united stand against Lagos State’s proposed ₦12,500 e-call-up levy, marketers say key actors have remained silent on the much higher,
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has ended the ongoing tanker driver strike. This decision follows the Lagos State Government’s agreement to open talks on the contentious ₦12,500 haulage levy. In a circular dated June 17, 2025, IPMAN’s National Executive Committee ordered all zonal and depot unit chairmen to halt the strike and
Fuel distribution in Lagos and surrounding states now faces a full-scale shutdown. The Petroleum Tanker Drivers (PTD) arm of NUPENG began a strike on Monday, citing continued harassment of drivers by Lagos task force officials near the Dangote refinery and Ibeju-Lekki axis. In a memo issued early Monday, NUPENG directed members to stop all loading
Following Dangote Petroleum Refinery’s announcement to begin direct nationwide distribution of petrol and diesel from August 15, members of the Dangote Marketers Group, a platform of licensed depot marketers, have raised serious concerns, describing the development as a “death sentence” for their role in the downstream value chain. The marketers, who serve as intermediaries between
The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has formally endorsed Petroleumprice.ng as the country’s top platform for fuel pricing, downstream petroleum news, and digital marketplace services. The association, which represents fuel retail outlets nationwide, described the endorsement as a recognition of Petroleumprice.ng’s role in promoting transparency, accuracy, and operational efficiency across the