OIL

The Nigerian National Petroleum Corporation (NNPC) has announced that its downstream subsidiary, the Petroleum Products Marketing Company (PPMC), recorded ₦234.63 billion revenue from the sale of white products in the month of March 2021 representing a 24.7% increase from the ₦188.15billion sales recorded in the previous month of February 2021. This is contained in the March 2021 edition of the ...

The Chairman, Independent Petroleum Marketers Association of Nigeria (IPMAN), Rivers chapter, Mr. Joseph Ebele has said that the ongoing Petroleum Tanker Drivers Union (PTD) strike can lead to fuel scarcity. Ebele, who expressed the worry in a statement on Thursday in Port Harcourt, said that the strike if not stopped might lead to queues at fuel stations and dispensing outlets ...

……..by Ben Ndubuwa…….. The committee on Trade and Investment has commended progress at the Oil and Gas Free Zone (OGFZ) after a tour of facilities at the Port Harcourt special economic hub and has called on the Federal government to improve the road infrastructure. The committee was also delighted by the presentations made by the free zone regulator, the Oil ...

The National Bureau of Statistics (NBS) says Premium Motor Spirit (PMS), popularly referred to as petrol, was more costly in Benue, Abia and Cross River in June. The NBS made this known in its “Premium Motor Spirit (Petrol) Price Watch for June 2021’’ released on its website on Saturday in Abuja. It said that Benue residents paid N183.29, while Abia ...

The Chief Operating Officer of Oando Energy Resources, Alex Irune has called for caution in the approach to energy transition in Nigeria and that proceeds from fossil energy should be strategically used for now to fund future renewables. Speaking at a panel session at the just ended 2021 Nigeria Oil and Gas Conference and Exhibition (NOG) in Abuja, Irune, said ...

The Department of Petroleum Resources( DPR) has listed five ways to fortify the Nigerian oil and gas sector for economic stability and growth. The Director and Chief Executive Officer of DPR, Mr Sarki Auwalu, made the suggestion while presenting a keynote address at the 20th Nigeria oil and gas conference, in Abuja on Tuesday. The theme of the conference is: ...

…TotalEnergies present in Africa for more than 80 years in exploration activities and in Nigeria for almost 60 years…….. In his industry address at the Nigeria Oil and Gas Conference and Exhibition (NOG), the Deputy Managing Director, Deep Water District of TotalEnergies, Mr. Victor Bandele noted that the choice of “Expanding the Nigerian Content Frontier through Intra-African Trade” as the ...

An average of 200,000 barrels per day is being lost yearly by the Federal Government to the destruction of oil pipelines with N60 billion spent annually on repair and maintenance, the Minister of Information and Culture, Lai Mohammed, said on Monday. According to him, the destruction of public infrastructure by some unpatriotic Nigerians requires immediate action. Mohammed stated these during ...

Minister of State for Petroleum Resources, Chief Timipre Sylva, said the Federal Government is facilitating the use of a tracking device to track every truck loading petroleum product from any of its depots as part of efforts to nip smuggling in the bud and arrest culprits. The Minister disclosed this at a forum to gauge the achievements recorded in the ...

The Group Managing Director of the Nigerian National Petroleum Corporation, Mallam Mele Kyari, has said the price of petrol should be more than N280/litre at which Automotive Gas Oil, also known as diesel, is being sold. Kyari said smuggling of petrol from Nigeria had impacted negatively on the Nigerian oil sector but added that this would not lead to another ...