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’Femi Asu
Fuel marketers have started adjusting their petrol pump prices amid the supply shortage facing private depots in Apapa.
Our correspondent observed that some filling stations in Lagos and Ogun states increased the pump price of petrol to N170 per litre on Tuesday from N162 per litre.
Some of the stations were Capital Oil and Gas, Fatgbems and Amo Oil, all along the Lagos-Ibadan Expressway. Another station, Enyo Retail, adjusted its pump price to N165 per litre from N162.
The National Operation Controller, Independent Petroleum Marketers Association of Nigeria, Mr Mike Osatuyi, told our correspondent that members of his association had to increase the pump price because they bought the product at N160-N161 from depot owners.
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Home » News » How NNPC cuts losses in four refineries by 53% to N85.75bn in 10 months
How NNPC cuts losses in four refineries by 53% to N85.75bn in 10 months
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By Obas Esiedesa
THE Nigerian National Petroleum Corporation, NNPC, has cut down losses by 53 per cent in the first 10 months of 2020, due to none production in the nation’s four refineries, according to data obtained from its October 2020 Monthly Financial and Operations Report, MFOR.
The data, obtained by Energy Vanguard, showed that the Operational Expenses, OPEX, stood at N85.75 billion in the first 10 months, thus indicating a drop of 53 per cent, compared to N122.96 billion recorded in the corresponding period of 2019.
Oil marketers blame subsidy for downstream infrastructure decay vanguardngr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vanguardngr.com Daily Mail and Mail on Sunday newspapers.