TheNewsGuru

Tag: Cooking Gas

  • NNPC set to crash prices of cooking gas

    The Nigerian National Petroleum Corporation (NNPC) on Thursday announced its readiness to implement an effective commercial framework that would halt the export of propane and butane, which are major components in the production of Liquefied Petroleum Gas (LPG), also known as cooking gas.

    NNPC’s Group General Manager, Group Public Affairs Division, Ndu Ughamadu, said the move to stop the export of propane and butane which is anchored by the Crude Oil Marketing Division of the corporation would enable the oil firm to boost the supply of LPG to the domestic market, thereby leading to a natural downward slide in the price of the product across the country.

    The NNPC spokesperson quoted the Group General Manager, COMD of the corporation, Mele Kyari, in a statement issued in Abuja as saying, “Currently some of our butane and propane entitlements are exported largely due to a lack of vessels to make sure that these things come into the domestic markets and the absence of a commercial framework.

    “What we are going to do is to make sure we put the right commercial framework in place so that those exports are converted into domestic consumption.”

    Kyari said the division was working in concert with stakeholders to create an environment for in-country production of LPG and cessation of export of the country’s equity butane and propane entitlements due to the absence of in-country vessels for transport and other considerations.

    He said the goal of the division in 2019 was to complete the automation process in the marketing and sale of Nigerian crude oil grades which teed-off in 2017, noting that all hands must be on deck to achieve 100 per cent end-to-end conclusion of the process.

     

  • Our timely, strategic intervention crashed prices of petrol, cooking gas nationwide – NNPC

    Our timely, strategic intervention crashed prices of petrol, cooking gas nationwide – NNPC

    The sustained strategic intervention of the Nigerian National Petroleum Corporation (NNPC) in the efficient supply and distribution petroleum products has led to significant fall in the prices of Premium Motor Spirit (PMS), also known as petrol, and Liquefied Petroleum Gas (LPG), also known as cooking gas, nationwide.

    A national survey by Oil and Gas Forum, NNPC’s weekly TV programme, indicated a trend of drop in price for cooking gas with the average price for refilling 5kg cylinder at N2,215.96 from the former price of N2,500.00.

    The study further revealed that states with the lowest average price for the 5kg LPG refill were Kaduna and Niger at N2,000; Kogi at N2,005.00; and Oyo at N2,033.33.

    At the NNPC Mega and retail stations nationwide, a 12.5kg of cooking gas that was sold for N4,500 a few months ago is now sold for N3,800 while other retail outlets sell the same quantity for N4,000.

    The corporation’s Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu made this disclosure in a statement on Sunday.

    The statement added that a national survey by Oil and Gas Forum, NNPC’s weekly TV programme, indicated that in the last few weeks, the price of petrol has fallen steadily from N145 per litre to between N142 and N143 per litre in some stations across the country.

    The study showed that NNPC Mega and affiliate stations across the country are selling the product for N143 per litre, while the pump price range from between N142 and N145 per litre in some major and independent marketers in Lagos, Abuja, Sokoto, Enugu, Delta and other major cities.

    One of the respondents in the survey and a manager at an independent fuel retail station in Abuja, Mohammed Abdullahi, said the station currently sells petrol at N142 per litre in line with the prevailing market situation in order to sustain the turnover of the business and to attract more motorists to the station.

    Another independent marketer in Mosimi, Emeka Ikechukwu, said the going ex-depot prices of PMS had dropped from N138 per litre in most depots to N133.28 in NNPC depots and between N130 and N131 per litre in private depots.

    However, the situation is slightly different in Aba and Umuahia in Abia State and Calabar in Cross River State where most independent fuel stations as well as major marketers selling the product at N145 per litre.

    The survey also showed a similar trend of drop in price for cooking gas with the average price for refilling 5kg cylinder at N2,215.96 from the former price of N2,500.00.

    The study further revealed that states with the lowest average price for the 5kg LPG refill were Kaduna and Niger at N2,000; Kogi at N2,005.00; and Oyo at N2,033.33.

    At the NNPC Mega and retail stations nationwide, a 12.5kg of cooking gas that was sold for N4,500 a few months ago is now sold for N3,800 while other retail outlets sell the same quantity for N4,000.

    NNPC has sustained its interventions through sustained improvement in the supply of the products and remodeling of distribution channels to address sufficiency issues across the country.

    The corporation has also stepped up the resuscitation of some of its critical pipelines and depots such as the Atlas Cove – Mosimi Depot Pipeline, Port-Harcourt Refinery – Aba Depot Pipeline, Kaduna – Kano Pipeline and the Kano Depot which have enhanced efficiency in products distribution.

    Efforts are also ongoing by the NNPC to revamp and re-commission other critical pipelines and depots across the country to further push down the prices of petroleum products for the benefit of consumers.

     

  • We have not increased prices of cooking gas – NLNG

    We have not increased prices of cooking gas – NLNG

    The Managing Director and Chief Executive Officer, Nigerian Liquefied Natural Gas (NLNG), Mr Tony Attah, on Wednesday said the company has not increased the price of Liquefied Petroleum Gas (LPG), popularly known as cooking gas.

    Attah stated this during the company’s presentation of “2017 Facts and Figures on NLNG’’ in Lagos.

    Attah, however, attributed the price hike by retailers to acute infrastructural challenges for discharging cooking gas nationwide.

    He said the only jetty available for discharging the product was in Lagos, adding that the additional costs of sending the product to different parts of the country was responsible for the hike in its price.

    According to the Managing Director, it is ridiculous that what the NLNG produces in Bonny Island, we have to take to Lagos before bringing it back to Port Harcourt for usage.

    Attah disclosed that the company was planning to rehabilitate the Calabar Jetty, in order to create another discharge point, apart from Lagos.

    He said the company had worked with various International Oil Companies (IOCs) to reduce gas flaring from 65 per cent to less than 20 per cent by monetising the benefits.

    The Managing Director said that the company had shipped 3,600 cargoes of Liquefied Natural Gas (LNG) to different parts of the world since its inception in 1995 to Dec. 2016.

    “Nigeria is seen as the fastest developing country in terms of gas delivery.

    “We receive gas from the offshore, clean it, store it and deliver to customers worldwide in liquid form.

    “From inception till date, the company has reaped over 90billion dollars in revenue, 5.5 billion dollars in taxes and 13billion dollars in dividends for the Federal Government,’’ he said.

    Attah said that at present, the management of the company was almost entirely indigenous, with only a few expatriates now working in the company.

    He said the company was contributing immensely to the development of its host community by providing uninterrupted power supply to the area.

    “Apart from this, the company ensures that it provides potable water, housing and education to the host community.

    “At present, the company is working with the Federal Ministry of Works for the construction of the 39-km Bonny/Port Harcourt road.

    “We have put down 50 per cent of the money which is N60billion, and we expect the Ministry to award the contract, this year.

    “We are working towards making Bonny Island a mini Dubai by the year 2040 by contributing N3 billion annually for this project,’’ he added.

     

     

    NAN

     

  • NLNG to flood markets with cooking gas, stabilize prices

    NLNG to flood markets with cooking gas, stabilize prices

    Nigeria Liquefied Natural Gas (NLNG) has assured the public that it will make available 13,000 metric tonnes of cooking gas.

    Mr Tony Okenedo, Manager, External Relations of NLNG told newsmen in Lagos on Friday that apart from this, additional 13,000 metric tonnes of the product would be released to the market immediately.

    He explained that the company would continue to ensure adequate supply and price stability of the product.

    “NLNG’s LPG vessel successfully discharged 13,000 metric tonnes of gas to Lagos jetty on Jan. 15.

    “Another 13,000 metric tonnes is expected to be discharged any moment from now.

    “The vessel has gone to load gas at NLNG’s facility in Bonny and it had returned to Lagos to discharge.

    “It is awaiting other vessels that are discharging petroleum products to finish before it can discharge its cargo,’’ he said.

    Okonedo said that the NLNG was alleviating the impact of price variations, insisting that the company would continue to work with stakeholders to stabilise gas price.

    “We are also engaged with other public and private stakeholders along the domestic market value chain to stimulate price stability and growth.

    “NLNG remains fully committed to the goals of ensuring gas supply,’’ he assured Nigerians.

    However, Mr Bassey Essien, Executive Secretary, Nigerian Association of LPG Marketers (NALPGAM) told NAN that the price of cooking gas was still on the high side.

    Essien said that NAV Gas Company was selling 20 metric tonnes of gas for about N5.5million as against N3.5million in November 2016.

    “The practice of pricing LPG according to international price index remains a setback for the sector and if not addressed, it will erode the gains already recorded in deepening the usage of gas.”

    “On the other hand, the weak exchange rate of the naira against the dollar has increased the price of gas,” Essien said.

    TheNewsGuru.com recalls that prices of the commodity suddenly jacked up following its scarcity.

  • Charcoal business booms in Ondo state as kerosene, cooking gas price hike lingers

    Residents of Okitipupa in Ondo State have continued to partronise charcoal sellers as substitute for their daily domestic cooking, as the high cost of kerosene and cooking gas lingered on Saturday.

    The News Agency of Nigeria (NAN) reports that kerosene, formerly sold for N300 per litre has gone up to between N400 and N450 while a 12.5Kg cylinder of cooking gas formerly at N3, 500 has skyrocketed to between N4.500 and N5,000.

    NAN also reports that a full sack of charcoal, lasting one and half months depending on the usage, has also increased from N1,500 to N2, 500 and N3,000.

    Some of the charcoal sellers who spoke with NAN in separate interviews in the area said that the high cost of kerosene and cooking gas had turned to be blessing in disguise for their business.

    They said that many customers npow patronised them and charcoal gained popularity.

    Mrs Bonike Usman, a charcoal seller who said roasted yam and plantain sellers patronised her, said that she had recorded high sale as many customers now patronised her.

    “I think the high coast of kerosene and gas is a blessing in disguise as I now sell about five bags per day, the same measure I sold in a week before,” she said.

    Mrs Wulemotu Akande, another charcoal seller, also said that she made lots of gain in the past two weeks as many people now trooped to her shop to purchase charcoal in different quantities.

    “Food vendors are not left out in the rush for charcoal because they can no longer afford the prices of gas,”Akande said.

    Another charcoal seller, Mrs Wunmi Ashade said that high costs of kerosene and gas had suddenly given charcoal a sudden prominence adding that charcoal sellers now made brisk business and on high patronage.

    “I knew people will rush to buy charcoal because it has happened many times, so I bought huge stock in December, so I am making more profit now,” Ashade said.

    Mrs Oluyemi Adegbemi, a food vendor, who also told NAN that charcoal was the best for cooking, saying that it burns blue flame like gas, urged the people to imbibe the culture of using it for their cooking.

    “Charcoal burns blue flame like gas and it is better compared to fire wood which burns red flame and make pots to be black and dirty,” she said.

    Mr Adefemi Ikumawoyi, a customer, said that he had to buy a bag of charcoal for his wife because he could no longer afford the high cost of kerosene.

    He appealed to the Federal Government to take drastic step in ensuring the availability of kerosene and cooking gas in order to make life more meaningful for the masses.

     

    NAN

  • Cooking gas price soars high, rises to N4,500 from N3,500 per 12.5kg

    Cooking gas price soars high, rises to N4,500 from N3,500 per 12.5kg

    The price of cooking gas has risen by about 30 per cent in Lagos and other parts of the country, according to the News Agency of Nigeria (NAN).

    A 12.5kg cylinder, which previously sold for N3,500, now goes for N4,500 in most parts of the metropolis.

    Some domestic gas users told NAN that they were irked by the sudden price increase, which they said, was arbitrary and thoughtless.

    Mrs. Rebecca Aleshinloye, a resident in Surulere, complained that gas sellers every year exploit users by increasing price of the product during festive periods.

    “I filled my cylinder with gas at N3,500 in December, but surprisingly, I was told the price has been changed to N4,500.

    “In annoyance, I went to a gas plant inside a filling station thinking that it would be cheaper, but was told it is N5,000.

    “I had no choice but to go back to the first gas plant to fill my cylinder. This practice of gas sellers is highly unfair to users considering the economic situation in the country,” she said.

    Also, Mrs. Jennifer Eluko, a resident of Abule-Egba, said that cooking gas price rose on December 24 at most of the sale points in the area.

    “I usually filled two cylinders ahead of the festive period because I know that sellers would sometimes create artificial scarcity and inflate the price,” Eluko said.

    Mr. Ben Nwabueze, a retailer at Ikorodu, said that the price increase was a local problem, which would phase out as more plants restock the product.

    “Yearly, because of the heavy cooking that takes place during Christmas period, there is usually high demand for gas.

    “We try to ration it because we cannot restock till after the break when loading starts at the depot. More so, it will still take some days before the product circulates, thereby forcing reduction in the price.” he said.

     

    NAN