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PPPRA shouldn’t decide petrol price alone – Marketers

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The review of petrol price should not be solely managed by the Petroleum Products Pricing Regulatory Agency, oil marketers said on Sunday. Since March 19, 2020, the PPPRA had been releasing guiding prices for Premium Motor Spirit (petrol) after it declared that the downstream oil sector had been deregulated. But oil marketers under the aegis of the Petroleum Products Retail Outlets Owners Association of Nigeria said on Sunday that  the… Read More »PPPRA shouldn’t decide petrol price alone – Marketers

NNPC suffers 47% drop in petrol sales revenue

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The Nigerian National Petroleum Corporation saw its revenue from petrol sales plunge by 47.38 per cent to N107.61bn in April as supply dropped amid the coronavirus lockdown and the reduction in the pump price of the product. The Petroleum Products Marketing Company is principally engaged in the supply and marketing of refined petroleum products to the marketers/retailers on behalf of the NNPC. Following the sharp drop in global crude oil… Read More »NNPC suffers 47% drop in petrol sales revenue

PETROAN rejects strike, opts for dialogue on petrol price

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PETROLEUM Products Retail Outlets Owners Association of Nigeria, PETROAN, has dissociated members from the call by pressure groups in the downstream sector of the oil and gas industry to embark on strike to protest federal government’s incessant changes in the pump price of petrol. The federal government through the Petroleum Products Pricing Regulatory Agency, PPPRA, on July 1, raised the pump price of petrol to between N140.80 and N143.80 in… Read More »PETROAN rejects strike, opts for dialogue on petrol price

Oil marketers condemn planned protest, shutdown over fuel price hike

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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 on a nationwide… Read More »Oil marketers condemn planned protest, shutdown over fuel price hike

New Fuel Pump Price: PETROAN Chides PPPRA

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Petroleum filling station owners, under the auspices of Petroleum Products Retail Outlets Owners Association (PETROAN), have kicked at the petrol pump price increase announced by the federal government on Wednesday, saying that it will bring confusion, distrust and losses in the market. In what is seen as one of the highest price movements in the last few months, the federal government announced yesterday that the pump price of petrol increases… Read More »New Fuel Pump Price: PETROAN Chides PPPRA

PETROAN Assures On Petroleum Products Supply Nationwide

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President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Prince Billy Harry, has reiterated the commitment of members of the association towards ensuring hitch-free petroleum products supply nationwide, during the coronavirus siege. PETROAN is a not-for-profit and non-political organization, aiming at promoting unity and stability in the petroleum retail sector. Harry, who spoke to Orient Energy Review in Abuja yesterday on phone, said that as sudden as the nationwide lockdown… Read More »PETROAN Assures On Petroleum Products Supply Nationwide

Fuel price reduction threatens our businesses – station owners

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Owners and operators of petrol stations across the country, on the platform of Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, on Wednesday, disclosed that the recent fuel price reduction was a risk to their businesses operations. In a statement in Abuja, by its National President, Dr. Billy Gillis-Harry, and Assistant National Secretary, Ogbuefi Erasmus, PETROAN insisted that to cushion the effects of the sudden price review on its… Read More »Fuel price reduction threatens our businesses – station owners

How oil subsidy removal may create more problems for Nigerians

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New twists in NDDC probe saga4 hours agoChinese COVID-19 vaccine starts final tests in Brazil4 hours agoShootout at Chicago funeral leaves 14 wounded4 hours ago • Stakeholders query role of PEF• Suggest ways to make policy work Unless the challenges bedeviling the downstream sector of the nation’s petroleum industry are surmounted, the removal of oil subsidy may create more problems for Nigerians, especially the poor masses. The Federal Government, through… Read More »How oil subsidy removal may create more problems for Nigerians

How to deregulate Nigeria’s oil, gas downstream sector beyond politics

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With over N10.7 trillion spent on subsidizing petrol between 2006 and 2019, the move by the federal government to exit subsidy and deregulate the downstream sub-sector will create a win-win situation for the government, investors, and end-users. However, the development could end as motion without movement if the government fails in its policy direction, especially the attempt to control the price of petroleum products in a deregulated regime. In the… Read More »How to deregulate Nigeria’s oil, gas downstream sector beyond politics

Why new petrol regulation won’t achieve downstream deregulation

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 MOMAN, PETROAN Say Price Regulation Not Enough• Iledare Canvasses Legal Framework, Insists Scrapping PEF, PPPRA Unavoidable• Neither NNPC, Private Marketers Should Enjoy Exchange Rate Preference – Adenikinju Though the Federal Government backed its determination to exit payment of subsidy on Premium Motor Spirit (PMS) with a regulation, which removed price cap on the product, stakeholders in the petroleum industry insisted that the country is only moving in circle and remains… Read More »Why new petrol regulation won’t achieve downstream deregulation