Marketers Begin Fuel Loading From Warri Refinery as NNPC Slashes Prices Again
- Petroleum product marketers have begun loading diesel, Kerosene, and gas from the newly refurbished Warri Refinery
- The marketers also demanded petrol from the facility, saying that only one out of the three units is currently functional
- The development comes amid a request by PETROAN for the Nigerian government to sell the Warri and Kaduna refineries
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
Oil marketers have begun loading diesel and Kerosene from the newly refurbished Warri Refinery.
Dealers disclosed the development on Friday, January 3, 2024, as they requested petrol from the facility.
Source: UGC
Marketers demand petrol from Warri refinery
The Warri refinery, managed by the Nigerian National Petroleum Company Limited (NNPC), became active on December 30, 2024, following an announcement by Mele Kyari, the company's Group CEO.
The Chairman of the Delta Chapter of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Harry Okenini, said it is still less than 100% functional despite the refinery working.
Okenini pointed out marketers have begun lifting diesel and Kerosene from the plant.
Punch reports that the Delta State Chairman of the Surface Tank and Kerosene Peddlers branch of NUPENG, Kingsley Erituoyo, said that the refinery was down for several years but has now begun production.
Warri refinery is yet to reach full production capacity
Checks reportedly revealed a scanty movement of trucks at the refinery complex.
According to the report, there were skeletal activities at the facility relative to the first day it was reopened.
Experts have disclosed that the Nigerian government and the NNPC must do more to ensure the facility's optimal operation.
The Punch report quoted insider sources as saying that only one of the refinery's three units was working and producing diesel, Kerosene, and gas.
Marketers demand the sale of two Nigeria refineries
The development comes as the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) asked the Nigerian government to privatise government-run refineries, allow competition, and boost transparency, accountability and investment in infrastructure to enhance operations in the downstream sector.
The marketers asked the government to privatise Warri and Kaduna refineries.
They also asked the government to enforce local content development, boost the effectiveness of compressed natural gas (CNG) in 2025, and combat smuggling.
PETROAN further requested that the Nigerian government prioritise access to crude oil and give an N100 billion grant to salvage 10,000 businesses affected by the subsidy removal.
The organisation made the demand in its 2024 retrospective and outlook document, released on Saturday, January 4, 2024.
NNPC slashes petrol prices again
Legit.ng earlier reported that NNPC lowered petrol prices at all of its retail locations in Abuja over the weekend.
Investigation and visits to NNPC's stations in Mabushi and the mega filling station in zone 1 revealed that retail outlets' pricing had dropped from N1,060 per litre to N1,040, a N20 per litre or around 1.8% decrease.
Reports say the rates at independently owned filling stations remained between N1,115 and N1,120 per litre even after the price was lowered to N1,040 per litre on Saturday.
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Source: Legit.ng
