PPMC, Marketers Ignore New Ex-Depot Price of Petrol

The Pipelines and Products Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC) and most of the oil marketing companies were yet to implement the new ex-depot prices of petrol at the weekend, ThisDay reports.

In most of the depots where the PPMC is selling its imported products, the ex-depot price is still higher than the N77 approved by the government. While PPMC was selling at ex-depot price of N85 per litre at Capital Oil Depot and N86 at Heyden Petroleum Depot, none of the private marketers was selling at N77.

Kaduna Refinery and Petrochemicals Restarts Production

The Kaduna Refinery and Petrochemical Company, owner of the Kaduna refinery, a facility which has the capacity to refine 110 000 bpd of crude oil, recently restarted production after it was closed for four months for repairs.

The Managing Director of Pipelines and Products Marketing Company (PPMC), Esther Nnamdi-Ogbue, said that the plant had come back on stream ahead of the December deadline for Nigeria’s four refineries to return to full production.

Mrs. Nnamdi-Ogbue said that the Kaduna plant, which is currently undergoing a test run of its production lines, is expected to start trucking petrol by the last week of December 2015.