Marathon Petroleum Corporation’s Post

A vessel shall not commence discharge of petroleum, petroleum derivatives, petroleum liquid, or petroleum products without obtaining vessel clearance from Nigerian Midstream and Downstream Petroleum Regulatory Authority at a prescribed fee. #Mo #nugget #oil #vessel #petroleum #derivatives #regulatory #authorities #midstream #downstream

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The National Petroleum Authority (NPA) has started enforcing the “price floor” for petroleum products in the country. The initiative, which is part of the NPA’s new pricing guidelines starts from April 16, to April 30, 2024 for the next window. A circular issued on April 12, 2024 to the various players in the oil marketing and distribution industry seen by Joy Business stated that a litre of petrol should not be sold below ₵13.2 by Oil Marketing Companies (OMCs) and Petroleum Service Providers (PSPs). Diesel on the other hand will have a price floor of ¢13.7. The directive also added that a kilogram of Liquefied Petroleum Gas (LPG) must not be sold below ¢10.52. The notice reminded the various players including the OMCs to strictly comply with the new pricing guidelines for the industry. The price floor announcement covers the second pricing window for petroleum products, which runs from April 16 to April 30, 2024.

Did you know? Illinois petroleum producers are not "Big Oil." The average Illinois operator produces between 13 and 14 barrels per day. And the daily production of the largest producer in the Illinois Basin - Carmi-based Campbell Energy - is dwarfed by true state-owned foreign "Big Oil" giants such as Saudi Aramco. Our oil producers are largely family-owned and locally-based, and every barrel produced in Illinois is a barrel we don't have to import from the Saudi Aramcos of the world. 🇺🇸 🛢 💪 Find out more: https://lnkd.in/gQ9Fzcpt

Did you know? Illinois petroleum producers are not "Big Oil." The average Illinois operator produces between 13 and 14 barrels per day. And the daily production of the largest producer in the Illinois Basin - Carmi-based Campbell Energy - is dwarfed by true state-owned foreign "Big Oil" giants such as Saudi Aramco. Our oil producers are largely family-owned and locally-based, and every barrel produced in Illinois is a barrel we don't have to import from the Saudi Aramcos of the world. 🇺🇸 🛢 💪 Find out more: https://lnkd.in/gQ9Fzcpt

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The National Petroleum Authority (NPA) has set new price floor for Oil Marketing Companies (OMCs) selling petroleum products from May 1, to May 15, 2024. Based on a circular sent to the OMCs and Bulk Oil Distribution Companies, seen by JOY BUSINESS, a litre of petrol is not expected to be sold below GH¢13.63. This represents some marginal increase from the GH¢13.02 announced by the NPA when the policy started from April 16, 2024. Diesel has been kept unchanged with a price floor ofGH¢13.07 a litre. The NPA also directed that a kilogram of Liquefied Petroleum Gas (LPG) must not be sold less than, GH¢10.55 pesewas. This represents an increase from the GH¢10.52 quoted from April 16 2024. The circular reminded all the various players including the OMCs to strictly comply with the new pricing guidelines for the industry. The price floor announcement covers the second pricing window for petroleum products, which runs from April 16 to April 30, 2024.

U.S. BUYS 2 MILLION BARRELS OF OIL U.S. Buys 2 Million Barrels of Oil for Strategic Petroleum Reserve https://hubs.la/Q02dt-wK0 The U.S. bought 2.1 million barrels of crude oil, the Energy Department said on Tuesday, to help replenish the Strategic Petroleum Reserve (SPR) after the largest sale in history last year. #oilbarrels #oilandgasindustry #oilandgas #energyindustry #crudeoil #spr #petroleumreserve

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The National Petroleum Authority (NPA) has reversed the suspension of the Price Stabilization and Recovery Levy on the price build-up of petroleum products. This was captured in a letter dated April 3 2024 to the various players in the oil marketing and distribution industry seen by JOYBUSINESS. The NPA in the letter directed all the Oil Marketing Companies and the other players that from April 4 2024, they should now apply 16 pesewas per litre on Petrol, 14 pesewas per litre on Diesel and 14 Pesewas on every Kg per Liquefied Petroleum Gas (LPG). It is unclear what influenced the National Petroleum Authority to revise the suspension of the Price Stabilization and Recovery Levy. Background The National Petroleum Authority in a letter on March 28 2024 announced the suspension of the Price Stabilization and Recovery Levy (PSRL) on price build-up on petroleum products. This froze the implementation of the levy charged on every litre of petroleum products and Kilogram of LPG from Monday, April 1 to June 30 2024. According to the National Petroleum Authority, this was based on a directive from the Finance Ministry working with the Energy Ministry.