Marketers Begin Fuel Loading at Warri Refinery as NNPC Slashes Prices Drastically

Marketers Begin Fuel Loading at Warri Refinery as NNPC Slashes Prices Drastically

Naijaonpoint Media reports that petroleum product marketers have begun loading diesel, kerosene, and gas from the newly refurbished Warri Refinery. This comes as the Nigerian National Petroleum Company Limited (NNPC) slashes petrol prices at its retail outlets in Abuja, providing much-needed relief to consumers.

In this article, we’ll explore the latest updates on the Warri Refinery, the demands of oil marketers, and how these developments could impact Nigeria’s fuel market.

Warri Refinery Resumes Operations

The Warri Refinery, managed by the NNPC, resumed operations on December 30, 2024, following an announcement by Mele Kyari, the Group CEO of NNPC. This marks a significant milestone in the government’s efforts to revive the country’s refineries and reduce dependence on imported petroleum products.

Key Updates:

• Products Available: Diesel, kerosene, and gas are currently being loaded from the refinery.
• Petrol Demand: Marketers are urging the refinery to begin producing petrol, as only one of its three units is currently functional.
• Production Capacity: The refinery is yet to reach full production capacity, with skeletal activities observed at the facility.

Marketers’ Demands and Challenges

While the resumption of operations at the Warri Refinery is a positive development, oil marketers have highlighted several challenges and made key demands to ensure the facility operates optimally.

1. Demand for Petrol Production

• Marketers are pushing for the refinery to produce petrol, which is in high demand across the country.
• Currently, only diesel, kerosene, and gas are being produced, limiting the refinery’s impact on the fuel supply chain.

2. Privatization of Refineries

• The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called for the privatization of the Warri and Kaduna refineries to enhance transparency, accountability, and investment in infrastructure.
• The association believes that privatization will boost competition and improve the efficiency of the downstream sector.

3. Support for Affected Businesses

• PETROAN has requested a N100 billion grant to salvage 10,000 businesses affected by the removal of fuel subsidies.

NNPC Reduces Petrol Prices in Abuja

In related news, the NNPC has reduced petrol prices at its retail outlets in Abuja. Investigations revealed that prices dropped from N1,060 per litre to N1,040 per litre, representing a 1.8% decrease.

However, independent filling stations continue to sell petrol at higher prices, ranging from N1,115 to N1,120 per litre. This highlights the need for increased local production to stabilize fuel prices across the country.

Conclusion

The resumption of operations at the Warri Refinery and the NNPC’s price reduction are positive steps for Nigeria’s energy sector. However, there is still much work to be done to ensure the refinery operates at full capacity and meets the demands of oil marketers and consumers.

Key steps include:

• Producing petrol to address the high demand for fuel.
• Privatizing refineries to improve efficiency and transparency.
• Enforcing price regulations to prevent disparities between NNPC and independent filling stations.

For more updates on Nigeria’s energy sector, stay tuned to Naijaonpoint Media and official NNPC channels.