OIL

………by Ben Ndubuwa……. The Major Energies Marketers Association of Nigeria (MEMAN), Depot And Petroleum Products Marketers Association of Nigeria (DAPPMAN) and Independent Petroleum Maketers Associaton of Nigeria (IPMAN) has been called upon to form Bulk Petroleum Products Purchasng Company of Nigeria (BPPPC) to enble them crash the price of Premium Motor Spirit (PMS)This coming together by marketers is to enble ...

…….as Major Marketers Kick over Monopsony with ‘Siddon Look’ Posture……. …….by Ben Ndubuwa….Prof.Wunmi Iledare, a petroleum economic expert has said that the Nigerian National Petroleum Company Limited (NNPCL) being a sole buyer of Dangote Refinery Premium Motor Spirit (PMS) is setting anti-competive market structure. Prof. Iledare explained that a monopsony is an anticompetive market structure in which there is only ...

… to upscale to 30 Million Litres In October…. The Nigerian National Petroleum Company Limited NNPCL) is to provide Dangote Refinery with at least cargoes of crude oil daily, while the Refinery will in return make available 25 million litres of Petrol daily. This is part of the deal the NNPCL is said to have entered into with the Dangote ...

The Nigeria National Petroleum Company Limited (NNPC) has increased the petrol price to N850 per litre while private operators are to pick their fuel at an ex-depot price of N950 per litre. It means, that the retail price of fuel at the private filling stations will be above N1000 per litre if the dealer’s margins, transportation, and union fees are ...

A picture taken on July 15, 2020, in Geneva shows Nigerian former Foreign and Finance Minister Ngozi Okonjo-Iweala smiling during a hearing before World Trade Organization 164 member states’ representatives, as part of the application process to head the WTO as Director General. – South Korean trade minister Yoo Myung-hee on February 5, 2021 abandoned her bid to become head ...

Oilfields in eastern Libya that account for almost all the country’s production will be closed and production and exports halted, the eastern-based administration said on Monday, after a flare-up in tension over the leadership of the central bank. There was no confirmation from the country’s internationally recognised government in Tripoli or from the National Oil Corp (NOC), which controls the ...

Exxon Mobil said on Monday it expects crude demand to stay above 100 million barrels per day (bpd) through 2050, similar to today’s levels, a forecast 25% higher than top European rival BP (BP.L). The stronger demand, projected by the largest U.S. oil company in its latest global oil outlook underpins Exxon’s production growth plans, the most ambitious among Western ...

The attention of NNPC Ltd has been drawn to a press release signed by Mr. Paul Ibe, a Media Adviser to the former Vice President, Alhaji Atiku Abubakar. In the statement, the former Vice President was quoted to have lamented “the criminal hijack of the NNPC by corporate cabals around the current President”. He was also quoted to have listed ...

……by Victor Egbo…… Traders all around Lagos are groaning over their inability to keep prices of items stable as fuel scarcity worsens and the ease of moving and transporting food items continues to be a challenge. This is further exacerbated as long vehicular queues have become common sights for people at various filling stations. Excruciating gridlocks accompany this on both ...

. ……..Says NNPC Ltd Witnessing Improved Growth in Crude Production….. The Group CEO of NNPC Ltd., Mr. Mele Kyari, has called on the military to sustain the war against crude oil theft and pipeline vandalism saying the current onslaught against the menace has yielded improved growth in the nation’s crude oil production. Kyari made this appeal when he received in ...