NNPCL Explains Discrepancies In Crude Oil Production Figures Amid Market Tensions

As Nigerians face the challenges of rising petrol prices by the Nigerian National Petroleum Company (NNPC) Limited, Naija News provides the latest updates on...READ MORE…

fuel scarcity, pricing trends, and public reactions.

Dangote Refinery Spurs Price Reduction by Petrol Marketers

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has lauded the price cut introduced by Dangote Refinery, emphasizing its importance in promoting market competitiveness.

ireporteronline recalls that Dangote Refinery recently announced a reduction in Premium Motor Spirit (PMS) prices to ₦970 per litre, down from the earlier ex-depot rate of ₦990 per litre set earlier in the month.

Anthony Chiejina, the company’s Chief Branding and Communications Officer, described the price reduction as a gesture of gratitude to Nigerians for supporting the refinery’s vision.

Clarification on Crude Oil Production Figures: NNPCL vs. NUPRC

The Nigerian National Petroleum Company Limited (NNPCL) has addressed discrepancies between its crude oil production figures and those released by the Nigerian Upstream Petroleum Regulatory Company (NUPRC).

In a statement issued by Chief Corporate Communications Officer Olufemi Soneye, NNPCL explained that the variations arose from differing timeframes used by both organizations.

NNPCL reported 1.8 million barrels per day as the peak production for October 2024, while NUPRC’s figure of 1.54 million barrels per day reflected the average production for September 2024. Soneye clarified that the figures are consistent within their respective context

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