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Browsing the "Oil & Gas" Category

More troubles for Chinese oil firm as Nigerian govt moves to retrieve $3 billion

The Nigerian government has commenced legal proceedings against the Chinese-owned oil firm, Addax Petroleum Development Nigeria Ltd, over the company’s alleged under-remittance of $3 billion in taxes and royalties. Court documents seen by Hope For Nigeria show that the funds, according to [...]

March 4, 2018 Oil & Gas

Fuel Scarcity: Nigerian govt gives mixed signals on possible price increase

Two government officials on Thursday gave diverse indications on what government is considering to resolve the current petrol scarcity. While a state governor who briefed journalists after a meeting presided by Vice President Yemi Osinbajo hinted at a possible price [...]

February 16, 2018 Oil & Gas

‘Why Kaduna refinery is not working, profitable’

On Thursday February 15, it would be exactly one month since the Kaduna Refining and Petrochemical Company (KRPC) shut down operations, due to the non-availability of crude oil.Besides the non-availability of crude, the facility, like others around the country has [...]

February 11, 2018 Oil & Gas

Angry Nigerians yell at, stone DPR officials over fuel scarcity

Residents of Port Harcourt, the Rivers State capital, angry at the Federal Government’s failure to address the perennial fuel scarcity in the country, yesterday, yelled and threw stones at officials of the Department of Petroleum Resources (DPR), who were on [...]

February 10, 2018 Oil & Gas

DPR urges NNPC to increase fuel supply to northern states

DPR urges NNPC to increase fuel supply to northern states: Officials of the Department of Petroleum Resources (DPR) in Kaduna Zone have appealed to the Nigerian National Petroleum Corporation (NNPC) to increase fuel supply to seven states under the zone. [...]

February 8, 2018 Oil & Gas

RTEAN urges FG to hands off control of fuel distribution

Road Transport Employers Association of Nigeria (RTEAN), has urged the Federal Government to stop controlling the distribution of fuel and endeavour to end scarcity in the country. Alhaji Musa Isiwele, the National President of RTEAN told newsmen on Sunday in [...]

February 4, 2018 Oil & Gas

Oil output set to ramp up in Nigeria as Total introduces massive new ship

A gigantic oil tanker arrived in Nigeria as part of a multi-billion dollar project that should allow one of Africa's biggest crude producers to pump out an additional 200,000 barrels a day. The floating production storage and offloading vessel is [...]

January 26, 2018 Oil & Gas

2 killed, 3 injured in petrol tanker accident

Two persons were killed while three others were injured along Kwara Polytechnic road, Oyun, llorin, when NNPC petrol tanker lost control and fell on Wednesday night. The News Agency of Nigeria (NAN) reports that the accident occurred when the petrol [...]

January 25, 2018 Oil & Gas

If you are wondering why petrol queues made a return, here’s the answer

If you reside in Lagos or Abuja, you’ve probably seen your worst nightmare staring you right in the face all over again because the petrol queues are back with some vengeance like they never really left. And maybe because they [...]

January 22, 2018 Oil & Gas

Residents groan as fuel crisis worsens in FCT

Though the fuel crisis, which surfaced across major cities last month has subsided in some states, residents of the Federal Capital Territory (FCT) are yet to see relief as the situation continues to worsen. Residents said the situation is now [...]

January 19, 2018 Oil & Gas

‘How blockchain will affect oil, gas sector in Nigeria’

As emerging frontiers, especially digital ledger system also called blockchain become a more globally recognised solution, experts have called for frameworks that will enable Nigeria’s oil and gas sector to benefit from the innovation. With a new $2.5million funding secured [...]

January 17, 2018 Oil & Gas

Reps move against NNPC over fuel subsidy payment

Knocks await the Nigerian National Petroleum Corporation (NNPC) on Tuesday, next week, when the House of Representatives reconvenes.   The Maikanti Baru-led agency will be pummelled for illegally subsidising the pump price of fuel at billions of naira. Speaker Yakubu [...]

January 10, 2018 Oil & Gas

Only one out of nine storage facilities functional at Ejigbo Depot, says IPMAN

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has decried the situation whereby only one storage tank out of nine installed at the Ejigbo Depot was working. It appealed to the Nigerian National Petroleum Corporation (NNPC) to rehabilitate all the [...]

January 8, 2018 Oil & Gas

Government to prosecute marketers selling petrol above N145

The Federal Government would prosecute any marketer that sells petrol above the recommended N145per litre, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has warned. Speaking yesterday during a meeting of the committee set up by government to [...]

January 6, 2018 Oil & Gas

WAIPEC 2018 to focus on driving oil, gas through innovative strategies

The second edition of the West African International Petroleum Exhibition and Conference (WAIPEC) 2018 will focus on new ventures in West Africa by driving oil and gas production through innovative strategies. The organisers of the conference have unveiled an overview [...]

January 5, 2018 Oil & Gas

Fuel scarcity: Marketers, FG finally agree on price

Fuel scarcity:  Oil marketers have agreed with the Federal Government to keep the pump price of petrol at N145 per litre. The marketers softpedaled on Wednesday, reversing their previous stance on the pricing of the product. The Chairman of the [...]

January 4, 2018 Oil & Gas

Senate flays presidency, fuel marketers seek tax holiday

The Senate yesterday condemned reports attributed to President Muhammadu Buhari’s Chief of Staff, Abba Kyari, suggesting that the failure to pay subsidy debts owed oil marketers was due to the chamber’s refusal to approve a loan request. In a statement, [...]

January 4, 2018 Oil & Gas

Nigeria’s Bonny Light crude oil hits $67.10 a barrel

The price of Nigeria’s Bonny Light crude oil reached $67.10 per barrel to emerge the highest priced product among members of Organisation of the Petroleum Exporting Countries (OPEC). Apart from Bonny Light crudes, other Nigeria’s oil grades such as Brass [...]

January 3, 2018 Oil & Gas

Buhari vows to deal with fuel hoarders who blackmail Nigerians

President Muhammadu Buhari has vowed to deal with those responsible for the fuel scarcity that inflicted severe hardship on Nigerians, especially during the yuletide. Buhari promised to probe the development, which he said was a “blackmail of all Nigerians,” and [...]

January 1, 2018 Oil & Gas

Fuel scarcity: Drop Petroleum Minister portfolio now – NANS warns Buhari

National Association of Nigerian Students, NANS, Zone B, has told President Muhammadu Buhari to disengage himself from the Ministry of Petroleum Resources as Minister. This is contained in a statement by zonal coordinator, Comrade Pedro Obi.  NANS noted that [...]

December 30, 2017 Oil & Gas

NLC gives condition for protest against fuel scarcity

The Nigeria Labour Congress (NLC) has vowed not to organise any protests against the current fuel crisis in the country until Nigerians are prepared to offer tangible support. Deputy President of the Congress, Peters Adeyemi, made this known yesterday in [...]

December 30, 2017 Oil & Gas

Why we subsidise petrol – Baru

The Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, yesterday said the corporation was subsidising fuel because government was not favourably disposed to having the pump price exceed the N145 per litre. Fielding questions from [...]

December 30, 2017 Oil & Gas

It’s shameful Buhari, APC cannot solve Nigeria’s fuel crisis – ADP

The Action Democratic Party (ADP) yesterday said it was a shame that President Muhammadu Buhari and the ruling All Progressives Congress (APC) cannot find lasting solution to the recurring incidence of fuel scarcity in the country. The ADP national chairman, [...]

December 29, 2017 Oil & Gas

Senate summons Kachikwu, Baru, others over fuel crisis

The Senate yesterday summoned the Minister of State for Petroleum, Ibe Kachikwu, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, and other industry stakeholders over the ongoing fuel scarcity. They are to appear before its [...]

December 29, 2017 Oil & Gas

NNPC owes Petrol marketers N800b

The Nigerian National Petroleum Corporation, NNPC is owing the Depot and Petroleum Products Marketers Association (DAPPMA) N600billion. Executive Secretary of the association, Mr Olufemi Adewole, revealed in a statement on Thursday, but the assurance of members readiness to help the [...]

December 29, 2017 Oil & Gas

Motorists decry crisis as illegal vendors make fortune in FCT

As the effects of the lingering fuel scarcity bite harder on the citizenry, some unpatriotic Nigerians have made and still making huge fortunes from this unsavoury situation by vending the product at very exorbitant rates in the Federal Capital Territory. [...]

December 28, 2017 Oil & Gas

No fuel in our depots – DAPPMA

Depot and Petroleum Products Marketers Association, (DAPPMA) on Tuesday said none of its members have fuel in their depots and tanks nationwide. DAPPMA, disclosed this  in a statement signed by its Executive Secretary, Mr. Olufemi Adewole. He said  “While we [...]

December 27, 2017 Oil & Gas

Fuel Queues: Motorists get fuel free in FCT

The Nigerian National Petroleum Corporation (NNPC) in Collaboration with Department of Petroleum Resources (DPR) have given out Premium Motor Spirit, known as Fuel free to Motorists in Abuja. DPR on Tuesday arrested and sealed off a filling station, named Khalif [...]

December 27, 2017 Oil & Gas

RSG, Shell Nigeria sign MoU on gas supply

The Rivers Government and Shell Nigeria Gas (SNG) have signed a Memorandum of Understanding (MoU) for the distribution of gas to industries in the Greater Port Harcourt area and its environs. The signing of the MoU was announced in a [...]

December 27, 2017 Oil & Gas

Holidaymakers groan as petrol hits N500/Litre in black market

Less than 24 hours to Christmas, it has been lamentation galore for holidaymakers crisscrossing the country to spend the Yuletide with their loved ones as petrol hits N500/Litre in black market. Airports and motor parks in many cities were replete with [...]

December 24, 2017 Oil & Gas