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The Nigerian National Petroleum Corporation (NNPC) has increased the daily supply of Premium Motor Spirit (petrol) across the country from 550 trucks to 1,661 trucks to combat the build up of fuel queues in some parts of the country. A statement by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, quoted the Managing Director of the Petroleum ...

The Bauchi office of the Department of Petroleum Resources (DPR) says it will continue to ensure the availability of petroleum products across the 500 existing filling stations in the state. Malam Abdullahi Isyaku, the Operation’s Controller of the agency made this known in an interview in Bauchi on Monday. Isyaku said the department would continue to closely monitor filling stations, ...

The country’s external reserves returned to a growth path as it gained $409 million in two weeks, latest figures from the Central Bank of Nigeria disclosed on Monday. According to the CBN’s figures on movement of reserves, the figure which stood at $34.845 billion as of the end of April 1 rose to $35.254 billion as of the end of ...

The Organisation of Petroleum Exporting Countries (OPEC) and its allies are discussing downgrading next week’s the full-scale ministerial meeting, delegates said, a signal the coalition may stick with plans to gradually revive oil production. The OPEC+ coalition led by Saudi Arabia and Russia may go ahead with just the meeting of its monitoring committee on April 28, rather than the ...

Operators in the downstream, natural gas and crude oil refining sectors of the Nigerian oil and gas industry borrowed N130bn from Nigerian banks in February amid the significant rise in global crude oil prices. The debt owed by the oil and gas companies rose to N4.05tn in February from N3.92bn in January, according to the latest data obtained from the ...

Shell is working with several partners to trial the use of hydrogen fuel cells for ships in a first-of-its-kind study for the energy firm and in Singapore. The success of the trial will “help pave the way for cleaner, hydrogen-powered shipping”, said Shell in a press release, adding that hydrogen with fuel cells may be the zero-emissions technology with the ...

ExxonMobil has announced an ambitious carbon capture and storage project that could see the removal of 100 million tons of carbon dioxide annually by 2040. Dubbed the Houston Ship Channel CCS, the project will require the participation of both public and private entities. It will also require investments to the tune of a staggering $100 billion to capture carbon dioxide ...

……..by Ibrahim Musa………The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari has again assured Nigerians that there will be no increase in the ex- depot price of Premium Motor Spirit (Petrol) in the month of May. This may not be unconnected with the on going negotiations between the government and labour unions in the country, ...

The Federal Government is currently seeking for a 50 per cent reduction in the Mambilla Hydroelectric Power project installed capacity to be reviewed by an independent industry stakeholder. In February, the Minister of Power, Sale Mamman, had stated that the capacity of the Mambilla project had been revised downward from 3,050 megawatts to 1,525MW, as the review would save Nigeria ...

First Bank of Nigeria Ltd., has launched a new website to ensure seamless banking and technology solutions to its customers across the world. The Chief Executive Officer, FirstBank Group, Dr Adesola Adeduntan, said this in a statement in Lagos over the weekend.. Adeduntan said the bank’s website was upgraded with features that were streamlined to reinforce its role in delivering ...