The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has justified its earlier request that the Federal Government authorize a N100 billion intervention fund to help stabilize the petroleum products market and make them more accessible to Nigerians.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) will tackle cost inefficiencies in petroleum products.
The pandemic-related shift to remote work could remove between 1 million and 1.5 million barrels per day from global demand.
The operator of the newly commissioned refinery has disclosed that the facility will produce 271 million liters of petroleum products annually.
NNPC is set to commence the second phase of the rehabilitation of the Port-Harcourt Refinery in the first quarter of 2021.
Petrocam has suspended its plan to build a refinery, as a result of the lack of deregulation of the downstream sub- sector of Nigeria’s oil and gas industry.
