Marketers to FG: Probe N11.35trn Spent on NNPC Refineries   The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has demanded that authorities fully account for an estimated N11.35tn reportedly spent on the rehabilitation of state-owned refineries, warning that continued opacity undermines confidence in the...

NNPC Refineries Privatisation to Kick Off by Q1 - PETROAN    The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has renewed its call for the privatisation of Nigeria’s four state-owned refineries, urging the Federal Government to transparently conclude the process by the first quarter...

23 Refineries Licensed in Four Years - NMDPRA   In the last four years of the enactment of the Petroleum Industry Act (PIA), the Federal Government has issued 23 licenses to proposed refineries to establish their operations. Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) disclosed this...

NNPC Says Prolonged Neglect Hampering Refinery Rehabilitation   The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL) Bayo Ojulari, has declared that fixing the country’s refineries under NNPC’s management has been difficult due to the neglect of the plants for decades. He also...

Political Interference Destroying Nigeria’s Refineries - PENGASSAN The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has reiterated that Nigeria’s moribund refineries can only function optimally if the Federal Government ends political interference in the state-owned assets. The union argued that years of political...

Crude Shortage, Funding Woes Shut Down 7 Refineries, Experts Lament   The persistent unavailability of crude oil has significantly hindered investments in the establishment and full capacity operations of seven new and existing refineries across the country, local refiners stated on Thursday. They also warned that without...