* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Saturday, August 23, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    How to watch ‘F1: The Movie’ on Prime Video – About Amazon

    Experience the Thrill: How to Stream ‘F1: The Movie’ on Prime Video

    FOX One is now available on Prime Video: Here’s everything to know – About Amazon

    FOX One is now available on Prime Video: Here’s everything to know – About Amazon

    What Are Our Predictions for Taylor Swift’s ‘Life of a Showgirl’ Based on What She’s Told Us So Far? – yahoo.com

    Uncover the Hidden Surprises in Taylor Swift’s ‘Life of a Showgirl’ – Can You Decode Her Clues?

    Bama Dining Serving Up New Food, Entertainment – UA News Center

    Bama Dining Launches Thrilling New Food and Entertainment Experiences

    The latest on Williams-Brice Stadium renovations, entertainment district – On3

    Discover the Thrilling New Upgrades Coming to Williams-Brice Stadium and Its Vibrant Entertainment District!

    1000+ Entertainment Leaders Release Open Letter Criticizing TIFF’s Handling of Film – Creative Community for Peace

    1000+ Entertainment Leaders Release Open Letter Criticizing TIFF’s Handling of Film – Creative Community for Peace

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Alcorn State awarded grant to boost STEM with VR technology – WJTV

    Alcorn State Secures Grant to Transform STEM Education Through Cutting-Edge VR Technology

    Hyundai: The Only Way To Beat China Is To Embrace Technology – InsideEVs

    Hyundai’s Bold Strategy to Outpace China with Cutting-Edge Technology

    Teaching older adults how to use technology – WWNY

    Empowering Older Adults to Master Technology with Confidence

    Denver man receives pacemaker using new technology – CBS News

    Denver Man’s Life Transformed by Revolutionary Pacemaker Technology

    Morgan County Rescue Squad is using new technology to recover people missing in the water faster – WAFF

    Morgan County Rescue Squad is using new technology to recover people missing in the water faster – WAFF

    YSU to celebrate launch of new radiology technology program – WKBN.com

    YSU Launches Exciting New Radiology Technology Program Celebration

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    How to watch ‘F1: The Movie’ on Prime Video – About Amazon

    Experience the Thrill: How to Stream ‘F1: The Movie’ on Prime Video

    FOX One is now available on Prime Video: Here’s everything to know – About Amazon

    FOX One is now available on Prime Video: Here’s everything to know – About Amazon

    What Are Our Predictions for Taylor Swift’s ‘Life of a Showgirl’ Based on What She’s Told Us So Far? – yahoo.com

    Uncover the Hidden Surprises in Taylor Swift’s ‘Life of a Showgirl’ – Can You Decode Her Clues?

    Bama Dining Serving Up New Food, Entertainment – UA News Center

    Bama Dining Launches Thrilling New Food and Entertainment Experiences

    The latest on Williams-Brice Stadium renovations, entertainment district – On3

    Discover the Thrilling New Upgrades Coming to Williams-Brice Stadium and Its Vibrant Entertainment District!

    1000+ Entertainment Leaders Release Open Letter Criticizing TIFF’s Handling of Film – Creative Community for Peace

    1000+ Entertainment Leaders Release Open Letter Criticizing TIFF’s Handling of Film – Creative Community for Peace

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Alcorn State awarded grant to boost STEM with VR technology – WJTV

    Alcorn State Secures Grant to Transform STEM Education Through Cutting-Edge VR Technology

    Hyundai: The Only Way To Beat China Is To Embrace Technology – InsideEVs

    Hyundai’s Bold Strategy to Outpace China with Cutting-Edge Technology

    Teaching older adults how to use technology – WWNY

    Empowering Older Adults to Master Technology with Confidence

    Denver man receives pacemaker using new technology – CBS News

    Denver Man’s Life Transformed by Revolutionary Pacemaker Technology

    Morgan County Rescue Squad is using new technology to recover people missing in the water faster – WAFF

    Morgan County Rescue Squad is using new technology to recover people missing in the water faster – WAFF

    YSU to celebrate launch of new radiology technology program – WKBN.com

    YSU Launches Exciting New Radiology Technology Program Celebration

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

JUST IN: Marketers Concerned About High Petrol Prices from Dangote Refinery

July 2, 2024
in Business
JUST IN: Marketers Concerned About High Petrol Prices from Dangote Refinery
Share on FacebookShare on Twitter

As petrol from the Dangote Petrochemical Refinery is set to enter the local market in the coming weeks, petroleum marketers are worried that the product may be more expensive than anticipated. This concern arises due to the refinery’s reliance on imported crude oil, as it has been unable to secure local feedstock from international oil companies (IOCs).CONTINUE FULL READING HERE

The refinery, which has a capacity of 650,000 barrels per day, has been importing crude from the United States and other countries at higher costs. This has made its diesel and aviation fuel less attractive to some local marketers due to the higher prices.

Marketers fear that the cost of importing crude oil will increase the production cost of petrol, which could lead to higher ex-depot prices. Aliko Dangote, Chairman of the Dangote Group, has announced that petrol from the refinery will be available in Nigeria by the third week of July.

Petroleum marketers and Nigerians have been hopeful that the refinery would reduce the price of petrol, which surged from around N200/litre to over N600/litre after the removal of fuel subsidies by President Bola Tinubu on May 29, 2023. However, concerns have grown that the lack of local crude supply could prevent the expected price drop.

Hammed Fashola, National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), expressed concerns that the refinery’s reliance on imported crude could increase petrol prices. He acknowledged the challenges faced by IOCs, who have other business commitments, in supplying crude to the Dangote refinery. Fashola urged the Federal Government to assist Dangote in securing local crude oil supplies to mitigate these issues.

Fashola also advised Dangote not to monopolize the market by raising fuel prices if he receives government support. He emphasized the need for Dangote to sell petrol at a reasonable price to prevent independent importers from entering the market.

Regarding pricing, Fashola predicted that the refinery would help close the price gap between major and independent marketers, including Nigerian National Petroleum Company Limited (NNPC) retail outlets. He anticipated a marginal price reduction if local crude becomes available.

The IPMAN boss called on the management of Dangote refinery to finalize partnership discussions with the association, highlighting that independent marketers own most of the filling stations in Nigeria.

A Dangote refinery official, who requested anonymity, revealed that Aliko Dangote had publicized the difficulties faced in securing local crude to preempt accusations of hiking fuel prices. The official explained that importing crude from the US adds significant costs, exacerbated by the high exchange rate of the dollar.

The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) also weighed in, stating that the price of Dangote petrol would depend on the cost of crude oil at the time of purchase. DAPPMAN Secretary Olufemi Adewole emphasized that the association would buy from Dangote once petrol sales begin.

Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries Limited, recently accused IOCs of attempting to undermine the refinery by inflating crude prices and making local crude procurement difficult. He claimed that IOCs preferred to export raw materials to their home countries, creating employment and wealth abroad while keeping Nigeria dependent on imported refined products.

Despite these challenges, the Dangote refinery has been increasing diesel exports to West Africa, capturing market share from European refiners, according to traders and shipping data. The refinery’s production of lower-grade gasoil has found buyers in neighboring markets, with nearly 100,000 barrels per day exported in May.CONTINUE FULL READING HERE

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Reportgist – https://reportgist.com/just-in-marketers-concerned-about-high-petrol-prices-from-dangote-refinery/

Tags: ‘concerned’businessMarketers
Previous Post

Nigerian prophet unveils miracle soap, perfume, spiritual shirt, mustard seed

Next Post

EU-Nigeria trade volume hits €24.6bn in 2023, despite 18.7% decline

Crossings: How Road Ecology is Shaping the Future of Our Planet – Living on Earth

Crossings: How Road Ecology is Shaping the Future of Our Planet

August 23, 2025
Toyota Friday Night Rivals kicks off season with Elizabethton at Science Hill – WCYB

Toyota Friday Night Rivals Ignite the Season with Elizabethton vs. Science Hill Showdown

August 23, 2025
Star Trek as Refuge for the Science-Minded – The Provincetown Independent

How Star Trek Ignites Passion and Empowers the Science-Minded

August 23, 2025
Refresh your wardrobe at these 11 QTS award-winning fashion and lifestyle stores – Time Out Worldwide

Transform Your Look with These 11 Must-Visit Fashion and Lifestyle Stores

August 23, 2025
Alcorn State awarded grant to boost STEM with VR technology – WJTV

Alcorn State Secures Grant to Transform STEM Education Through Cutting-Edge VR Technology

August 23, 2025
Is Mastantuono in line for a start this Sunday? – Yahoo Sports

Is Mastantuono Set to Make His Starting Debut This Sunday?

August 23, 2025
‘Urgent action’ needed to protect workers from heat stress in warming world, UN says – Reuters

Urgent Action Needed to Shield Workers from Rising Heat Risks in a Warming World

August 22, 2025
The United States’ Biggest Vulnerability in the Trade War: Its Knowledge Economy – World Politics Review

The United States’ Greatest Weakness in the Trade War: Its Knowledge Economy

August 22, 2025
How to watch ‘F1: The Movie’ on Prime Video – About Amazon

Experience the Thrill: How to Stream ‘F1: The Movie’ on Prime Video

August 22, 2025
Willis Knighton Health in Louisiana joins Mayo Clinic Care Network – Mayo Clinic News Network

Willis Knighton Health Teams Up with Mayo Clinic Care Network to Elevate Patient Care in Louisiana

August 22, 2025

Categories

Archives

August 2025
MTWTFSS
 123
45678910
11121314151617
18192021222324
25262728293031
« Jul    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (785)
  • Economy (805)
  • Entertainment (21,684)
  • General (16,619)
  • Health (9,845)
  • Lifestyle (818)
  • News (22,149)
  • People (807)
  • Politics (814)
  • Science (16,018)
  • Sports (21,304)
  • Technology (15,786)
  • World (786)

Recent News

Crossings: How Road Ecology is Shaping the Future of Our Planet – Living on Earth

Crossings: How Road Ecology is Shaping the Future of Our Planet

August 23, 2025
Toyota Friday Night Rivals kicks off season with Elizabethton at Science Hill – WCYB

Toyota Friday Night Rivals Ignite the Season with Elizabethton vs. Science Hill Showdown

August 23, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version