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Pinnacle-Lekki Tops Load-Out Depot As NNPC Releases 901 million Litres Of PMS

Pinnacle-Lekki Tops Load-Out Depot As NNPC Releases 901 million Litres Of PMS

Amid prediction of higher fuel cost by the Institute for Energy Security (IES), the Nigerian National Petroleum Company Ltd has supplied additional 901 million litres of the product to address energy setbacks partly triggered by the Russia-Ukraine crisis.

Over 336.73m litres was released through 70 load-out depots between May 2 and 8, while another 564.92m litres went into the market between May 9 and 16 through same load-out depots.

IES forcasted in May a significant increase in the price of fuel due to rising international prices and domestic shortages.

In 2022 alone the national oil company released over 4 billion liters and maintained a price of around N165 per litre at the pump stations.

The NNPC had said that it took delivery of 1.029 billion litres between March 21 to April 3, 2022.

Between February 14 and March 13, the NNPC Ltd released a total of 1.82 billion litres.

Based on the figures for May, Pinnacle-Lekki received a total of 54.349 million litres, A.A RANO received 45.594 million litres, while NIPCO received 44.586 million litres.

AIETO got 42.34 million litres, MATRIX received 35.074 million litres, while PRUDENT received 31.25 million litres during the 14-day period.

Read Full Story At: The Whistler.

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