* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, May 30, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Allied Gaming & Entertainment Receives Expected Nasdaq Notice Regarding Delayed Quarterly Report – Business Wire

    Allied Gaming & Entertainment Faces Nasdaq Notice Over Delayed Quarterly Report

    Weekly Entertainment Report May 29-June 1: Where to find lively arts, music, and shows – Manchester Ink Link

    Weekly Entertainment Report May 29-June 1: Where to find lively arts, music, and shows – Manchester Ink Link

    Aziz Ansari made Keanu Reeves Indian food so he wouldn’t feel ‘freaked out’ directing him in Good Fortune (exclusive) – Entertainment Weekly

    Aziz Ansari Whips Up Indian Cuisine for Keanu Reeves to Ease Directing Jitters in Good Fortune

    Cassie Ventura welcomes third child – crossroadstoday.com

    Cassie Ventura Joyfully Welcomes Her Third Child!

    Drew Brees opens Surge Entertainment Center in Metairie hot spot for new businesses – NOLA.com

    Drew Brees Unveils Exciting New Surge Entertainment Center in Metairie!

    Will Gio Stay Or Go On May 27 General Hospital? – Yahoo

    Will Gio Make a Shocking Exit on May 27th’s General Hospital

  • 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
    4Liberty Announces Collaboration with Itron to Drive Innovation in Utility Technology Adoption and Optimization – FinancialContent

    4Liberty Partners with Itron to Revolutionize Utility Technology and Boost Innovation

    Q1 2025 Quantum Technology Investment: What’s Driving the Surge in Quantum Investment? – The Quantum Insider

    Unleashing the Future: Exploring the Surge in Quantum Technology Investments for Q1 2025

    MIT Team Releases Tempting Report on Electric Aircraft Technology – AVweb

    MIT Team Releases Tempting Report on Electric Aircraft Technology – AVweb

    MSE, DXC Technology expand tech partnership – Sports Business Journal

    MSE, DXC Technology expand tech partnership – Sports Business Journal

    Technology Driving Performance: How Elite MA Plans Leverage Data, Care Coordination, and Advanced Analytics to Thrive Amid CMS’s Rigorous 2025 Standards, Black Book – Newswire.com

    Unlocking Success: How Top MA Plans Harness Data and Analytics to Excel Under CMS’s 2025 Standards

    Arqit acquires Ampliphae’s technology IP, enhancing its global encryption portfolio – GlobeNewswire

    Arqit Boosts Global Encryption Portfolio with Strategic Acquisition of Ampliphae’s Technology IP

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Allied Gaming & Entertainment Receives Expected Nasdaq Notice Regarding Delayed Quarterly Report – Business Wire

    Allied Gaming & Entertainment Faces Nasdaq Notice Over Delayed Quarterly Report

    Weekly Entertainment Report May 29-June 1: Where to find lively arts, music, and shows – Manchester Ink Link

    Weekly Entertainment Report May 29-June 1: Where to find lively arts, music, and shows – Manchester Ink Link

    Aziz Ansari made Keanu Reeves Indian food so he wouldn’t feel ‘freaked out’ directing him in Good Fortune (exclusive) – Entertainment Weekly

    Aziz Ansari Whips Up Indian Cuisine for Keanu Reeves to Ease Directing Jitters in Good Fortune

    Cassie Ventura welcomes third child – crossroadstoday.com

    Cassie Ventura Joyfully Welcomes Her Third Child!

    Drew Brees opens Surge Entertainment Center in Metairie hot spot for new businesses – NOLA.com

    Drew Brees Unveils Exciting New Surge Entertainment Center in Metairie!

    Will Gio Stay Or Go On May 27 General Hospital? – Yahoo

    Will Gio Make a Shocking Exit on May 27th’s General Hospital

  • 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
    4Liberty Announces Collaboration with Itron to Drive Innovation in Utility Technology Adoption and Optimization – FinancialContent

    4Liberty Partners with Itron to Revolutionize Utility Technology and Boost Innovation

    Q1 2025 Quantum Technology Investment: What’s Driving the Surge in Quantum Investment? – The Quantum Insider

    Unleashing the Future: Exploring the Surge in Quantum Technology Investments for Q1 2025

    MIT Team Releases Tempting Report on Electric Aircraft Technology – AVweb

    MIT Team Releases Tempting Report on Electric Aircraft Technology – AVweb

    MSE, DXC Technology expand tech partnership – Sports Business Journal

    MSE, DXC Technology expand tech partnership – Sports Business Journal

    Technology Driving Performance: How Elite MA Plans Leverage Data, Care Coordination, and Advanced Analytics to Thrive Amid CMS’s Rigorous 2025 Standards, Black Book – Newswire.com

    Unlocking Success: How Top MA Plans Harness Data and Analytics to Excel Under CMS’s 2025 Standards

    Arqit acquires Ampliphae’s technology IP, enhancing its global encryption portfolio – GlobeNewswire

    Arqit Boosts Global Encryption Portfolio with Strategic Acquisition of Ampliphae’s Technology IP

    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

Even birds can’t out-fly climate change – Phys.org

Even birds can’t out-fly climate change – Phys.org

May 30, 2025
Opinion | How China’s maritime strategy is swapping force for research diplomacy – South China Morning Post

Opinion | How China’s maritime strategy is swapping force for research diplomacy – South China Morning Post

May 30, 2025
Newly discovered ‘ghost’ lineage linked to ancient mystery population in Tibet, DNA study finds – Live Science

Unveiling the Secrets of Tibet: A Fascinating ‘Ghost’ Lineage Revealed by DNA Study

May 30, 2025
‘Wicked,’ gardening and Amy Sedaris: 7 events this week – Albuquerque Journal

‘Wicked,’ gardening and Amy Sedaris: 7 events this week – Albuquerque Journal

May 30, 2025
Yankees have a busload of momentum heading into World Series rematch against Dodgers – AP News

Yankees have a busload of momentum heading into World Series rematch against Dodgers – AP News

May 30, 2025
Economists blame Trump tariffs, AI explosion for threatening global economy – theregister.com

How Trump’s Tariffs and the AI Boom Are Shaking Up the Global Economy

May 30, 2025
Allied Gaming & Entertainment Receives Expected Nasdaq Notice Regarding Delayed Quarterly Report – Business Wire

Allied Gaming & Entertainment Faces Nasdaq Notice Over Delayed Quarterly Report

May 30, 2025
UMC Health System, Texas Tech HSC to honor endowed chairs, professors – Lubbock Avalanche-Journal

Celebrating Excellence: UMC Health System and Texas Tech HSC Honor Distinguished Professors and Endowed Chairs

May 30, 2025
Paris on Politics: Israel-Gaza conflict gets personal in Chicago’s City Council – FOX 32 Chicago

Paris on Politics: Israel-Gaza conflict gets personal in Chicago’s City Council – FOX 32 Chicago

May 30, 2025
Anduril and Meta Team Up to Transform XR for the American Military – Anduril

Revolutionizing Military Training: Anduril and Meta Join Forces to Enhance XR Technology

May 30, 2025

Categories

Archives

May 2025
MTWTFSS
 1234
567891011
12131415161718
19202122232425
262728293031 
« Apr    
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 (651)
  • Economy (664)
  • Entertainment (21,571)
  • General (15,248)
  • Health (9,706)
  • Lifestyle (666)
  • News (22,149)
  • People (666)
  • Politics (672)
  • Science (15,886)
  • Sports (21,170)
  • Technology (15,651)
  • World (652)

Recent News

Even birds can’t out-fly climate change – Phys.org

Even birds can’t out-fly climate change – Phys.org

May 30, 2025
Opinion | How China’s maritime strategy is swapping force for research diplomacy – South China Morning Post

Opinion | How China’s maritime strategy is swapping force for research diplomacy – South China Morning Post

May 30, 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