Sentences with phrase «nigerian oil marketers»
Vanguard exclusively gathered that the blacklisting of Nigerian oil marketers by the foreign suppliers followed the challenges faced by marketers to access foreign exchange due to stringent rules by the Central Bank of Nigeria, CBN, on foreign exchange transactions.
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Late December, the PPPRA had on behalf of the Federal Government announced that effective January 1, 2016, Premium Motor Spirit, otherwise known as petrol, would be sold at N86 per litre by the Nigerian National Petroleum Corporation (NNPC) retail stations, while other oil marketers would sell at N86.50 per litre.
Last week, oil marketers under the aegis of the Independent Petroleum Products Importers said they owed some Nigerian banks over $ 1bn used for the importation of petroleum products, with accumulated interest of N160bn.
«Consequently, the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG), Independent Petroleum Marketers Association of Nigeria (IPMAN) and other related oil and gas unions hereby suspend the industrial action embarked upon by their members, with immediate effect.
The marketers include Conoil Plc, Total Plc, OVH Energy Plc, Oando Plc, Forte Oil and Gas Plc, Mobil Plc, MRS Oil Plc, NIPCO Oil Plc and other retailers of the Nigerian National Petroleum Corporation.