Filling stations in Abuja and its environs have unofficially increased the pump price of Premium Motor Spirit (PMS) known as fuel as scarcity of the product bites harder.

A Correspondent of the News Agency of Nigeria (NAN) on Tuesday reported that the fuel stations that had products were selling between N850 and N1,000 per litre, while the black marketers were selling at N1,300 and N1,400 per litre.

NAN reports that in spite of the adjustment, the Nigerian National Petroleum Company Limited (NNPC Ltd.) maintained its price of N617.

The development has caused long queues at NNPC Ltd. retail outlets at Zone 1, Mega station near Church Gate, Jahi and others along Kubwa Express.

It would be recalled that long queues surfaced in the FCT following low distribution of fuel to different stations due to logistics.

NNPC Ltd. had said in a statement on Thursday that the cause of the scarcity, which they described as “tightness in fuel supply”, had been resolved.

However, along Karshi-Jukwoyi road, Fuel Smart, Mobil, NIPCO and many other independent marketers are selling the product in their fuelling stations between N850 and N1,000.

Conoil and TotalEnergies opposite NNPC Ltd. Towers sell at N660 but with long queues.

At Kubwa, the majority of the fuelling stations are closed because of a lack of the product.

Eterna and Ammasco at the Kubwa second gate, along the Kubwa-Zuba expressway are yet to be supplied with the product.

Only the NIPCO Fuelling Station opposite the Eterna station has fuel but with a long queue.

(NAN)

Dangote Refinery gets another one million crude barrels

The Dangote Petroleum Refinery, on Monday, received the fourth shipment of one million barrels of bonny light crude oil, supplied by the Nigeria National Petroleum Corporation Limited.

A statement from the $20bn firm stated that the oil company was expecting the fifth crude oil shipment soon.

The plant had earlier received three shipments of crude oil, as officials of the company told our correspondent that the refinery would start pumping out refined Automotive Gas Oil, also known as diesel, and aviation fuel or JetA1 this month.

In the statement issued on Monday, the company said, “The fresh one million barrels of crude was the fourth consignment to be delivered to the Dangote facility out of the six million barrels of crude being expected by the world’s largest single-train refinery.”

The Managing Director of Dangote Ports Operations, Akin Omole, had earlier told journalists at the Dangote Quay, Ibeju-Lekki, Lagos that the refinery would receive about four million crude oil shipments before the end of 2023.

According to him, the refinery would get the remaining two by early January 2024, adding that this would position the refinery to begin production.

He explained that once the six million barrels were fully delivered, it would facilitate the initial run of the refinery and see to the production of diesel, aviation fuel, and Liquefied Petroleum Gas, before progressing to the production of Premium Motor Spirit, popularly called petrol.

The 650,000 barrels per day capacity Dangote refinery can meet 100 per cent of Nigeria’s requirement of all refined petroleum products including petrol, diesel, kerosene and jet fuel, and also has a surplus of each of these products for export.

Dangote Refinery has a self-sufficient marine facility with the ability to handle the largest vessel globally available, from where it has been receiving crude oil shipments.

After receiving the first consignment of crude, the President, Dangote Group, Aliko Dangote, had said, “We are delighted to have reached this significant milestone. This is an important achievement for our country as it demonstrates our ability to develop and deliver large capital projects.

“Our focus over the coming months is to ramp up the refinery to its full capacity. I look forward to the next significant milestone when we deliver the first batch of products to the Nigerian market.”

Port Harcourt Refinery Recommences Operation After Years Of Shutdown

The Port Harcourt Refining Company in Rivers State has recommenced operation in line with the Federal Government’s promise to ensure the production of refined products at the facility in December 2023.

The development is coming after many years of underperformance and turnaround maintenance of the facility. Four of Nigeria’s refineries in Port Harcourt, Warri, and Kaduna have a combined capacity to process 445,000 barrels per day (bpd). But they were shut down in 2019.

However, in August, the Minister of State for Petroleum Resources (Oil) Senator Heineken Lokpobiri, said the Port Harcourt refinery will recommence operations in December.

Lokpobiri said this during an inspection tour of the rehabilitation work at the PHRC Ltd. plant

“Our objective in coming here today is to ensure that in the next few years, Nigeria stops fuel importation. From what we have seen here today, Port Harcourt Refinery will come on board by the end of the year,” he said in August.

The recommencement of operations at the Port Harcourt refinery comes over two years after the Federal Government approved funding of $1.5 billion (1.2 billion euros) to repair one of its biggest oil refineries.

The government chose an Italian firm Maire Tecnimont to carry out the repair work at the Port Harcourt facility which has a capacity of some 210,000 bpd.

“We are happy to announce that the rehabilitation of productivity refinery will commence in three phases,” the then-Minister of Petroleum (State) Timipre Sylva told reporters.

“The first phase is to be completed in 18 months, which will take the refinery to a production of 90 per cent of its nameplate capacity,” said Sylva, adding that the second phase would be completed in 24 months and the third in 44 months.

Despite being Africa’s number one oil producer, Nigeria has relied on imports of petroleum products because of a lack of domestic refining capacity. Fuel shortages are commonplace.

But as part of moves to overhaul the Nigerian National Petroleum Company Limited (NNPCL), the government has been working to improve capacity at the country’s under-performing state-owned refineries.

It is hoped that the resumption of refinery activity in the facility and the commencement of a similar exercise at the Dangote Refinery will improve the supply of fuel in Africa’s largest oil producer and allow the country to make savings on refined fuel and other petroleum products.

With the removal of subsidy on fuel, the move is also expected to impact the cost of the product.