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Some experts in the Oil and Gas sector have expressed concern over Federal Government’s pronouncement of deregulating the downstream oil and gas sector without a law backing it. Prof. Wumi Iledare, the former President, Nigeria Association of Energy Economics (NAEE) told the News Agency of Nigeria in Abuja on Sunday that government needed to back the deregulation with a new law. “Deregulation has to be backed by dissolution or discontinuation of an existing regulation or law. The Petroleum… Read More »Mixed reactions trail FG’s deregulation of downstream oil sector

By Michael Eboh Oil marketers, under the aegis of Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), yesterday, kicked against attempts by some labour groups and trade associations to stage a protest march in opposition to the recent hike in the price of Premium Motor Spirit, also known as petrol. The Nigeria Labour Congress (NLC), United Labour Congress (ULC) and some other oil marketing groups had threatened to embark… Read More »Fuel price hike: Oil marketers condemn planned protest, shutdown Read more at: https://www.vanguardngr.com/2020/07/fuel-price-hike-oil-marketers-condemn-planned-protest-shutdown/

The Petroleum Products Retail Outlets owners Association of Nigeria (PETROAN) have argued that shutting down petrol station outlets nationwide, in the protest by downstream stakeholders of the oil and gas sector against the incessant changes in pump price of petrol, is not the solution. The Petroleum Products Pricing Regulatory Agency (PPPRA), on July 1, 2020 raised the pump price of petrol to between N140.80 and N143.80 for July, in one… Read More »Marketers Faults Pump Price Modulation By PPPRA

A coalition of core interests in Nigeria’s downstream petroleum industry wants the federal government to accommodate their input in the legal framework that will guide operations in the deregulated market regime. The stakeholders comprising of Major Oil Marketers Association of Nigeria (MOMAN), Depot and Petroleum Products Owners Association of Nigeria (DAPPMAN) and the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) made this call at the Nigerian Petroleum Downstream… Read More »Downstream operators seek input in market deregulation framework

FG faulted over claims of downstream oil sector deregulation …Why diesel, kerosene prices are still high, oil marketers reply FG …Publicise terms of deregulation immediately, FG told …No deregulation without review of existing laws Stakeholders in the Nigerian petroleum industry, yesterday, faulted the Federal Government’s supposed deregulation of the downstream petroleum industry and described the pronouncements by the Minister of State for Petroleum Resources to that effect as merely grandstanding… Read More »FG faulted over claims of downstream oil sector deregulation

The Petroleum Product Retail Outlet Owners Association of Nigeria (PETROAN) has said its members across the country are losing over N10 billion following the slash on fuel pump price  by the Federal Government.    Speaking with journalists, the President, PETROAN, Prince Billy Harry, who is also the National Vice President, Nigeria Chamber of Commerce, Industry, Mines and Agriculture (NACCIMA), said in Rivers alone, the marketers were  losing about N300 million as a… Read More »PMS: Marketers bemoan N10bn loss to new pump price

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has appealed to the federal government to come to the aid of its members with soft-loans to survive the harsh effect of recent reductions in petroleum products prices. The appeal was contained in a statement by the association’s National President, Dr Billy Gillis-Harry and Assistant National Secretary, Ogbuefi E. Erasmus in Abuja. PETROAN, while lauding President Muhammadu Buhari and the… Read More »PMS price cut: Sales outlet owners beg FG for loans

Following the federal government’s directive on the price reduction of Premium Motor Spirit (PMS) from N145 to N125 per litre some retail outlets and depots have refused to comply as they still sell at the old price. Investigation by Nigerian NewsDirect revealed that most filling stations and depot owners are still selling stocks of PMS in their tank farm at the old exdepot price It would be recalled that the federal… Read More »Why marketers still sell PMS at N145 per litre

 Yesterday, The Petroleum Product Retail Outlet Owners Association of Nigeria (PETROAN), demanded compensation from the Federal Government to its members across the country for losing over N10 billion following the slash on the fuel pump price of fuel. Recall that the Federal Government announced the reduction of fuel pump price from N145 per litre to N125 per litre, last week Wednesday. Prince Billy Harry, the PETROAN’s President, while speaking with… Read More »New Fuel Price: Marketers Demand Compensation From FG Over N10bn Loss