Petrol price hike and fuel scarcity update for November 22nd, 2024
As Nigerians continue to express concerns over the recent fuel price hike by the Nigerian National Petroleum Company (NNPC) Limited, Gistreel provides updates on petrol scarcity, rising fuel costs, and the reactions of both the government and citizens.
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has announced that Nigeria’s crude oil production will see an increase of 60,000 barrels per day (bpd) following the launch of a new Floating Production Storage and Offloading (FPSO) facility.
The facility, operated under a joint venture between the NNPC and First E&P on OML 83/85, is named Abigail-Joseph.
Speaking during an inspection visit to the facility in Bayelsa State on Wednesday, Lokpobiri highlighted the FPSO’s potential to further boost production.
A statement from the Minister’s spokesperson, Nneamaka Okafor, commended the progress and production targets set by the facility. Currently producing 60,000 bpd, the FPSO is expected to reach 70,000 bpd soon, with long-term plans to scale output to 100,000 bpd.
The Nigerian National Petroleum Company Limited (NNPCL) has requested the Federal High Court in Abuja to dismiss a lawsuit filed by Dangote Petroleum Refinery and Petrochemicals FZE, arguing that the case lacks merit.
In a preliminary objection submitted to Justice Inyang Ekwo, NNPCL’s legal team, led by Senior Advocate of Nigeria Kehinde Ogunwumiju, argued that the lawsuit is premature.
The application, filed under reference number FHC/ABJ/CS/1324/2024 on November 15, seeks two rulings: one to dismiss the case for lack of jurisdiction, and another to exclude NNPCL as a party in the proceedings.
NNPCL presented a six-point objection, asserting that Dangote Refinery lacks the legal standing to pursue the case.
