The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has blamed the recent fuel scarcity in Abuja and neighbouring states on flooding in Lokoja, the Kogi State capital. The agency on Thursday said in a statement floods have submerged a greater part [...]
The Nigerian government has announced the relaunch of its gas flare commercialisation programme. The government launched the National Gas Flare Commercialisation Programme in 2016 to involve third-party investors or off-takers in harnessing gas released as a byproduct of oil production. [...]
Nigeria will award contracts for its flared gas by the end of December under an accelerated programme to harness gas that is released as a byproduct of oil production, its petroleum regulator has said. President Muhammadu Buhari first launched the [...]
The Lagos Chamber of Commerce and Industry has advised the Federal Government to remove fuel subsidies and implement the Petroleum Industry Act religiously. The advice was given by Vice President, LCCI, Gabriel Idahosa, while representing the President, LCCI, Dr. Michael Olawale-Cole, [...]
The presidential candidate of Labour Party, Peter Obi, yesterday, said government was behind oil theft in the country. Obi, who was the guest speaker at the second in the series of Private Sector Economic Forum of the Lagos Chamber of [...]
Kenya has scrapped a subsidy on petrol a day after new President William Ruto said subsidies were unsustainable, in a move that could add to upward pressure on inflation. Some of the key challenges the new president faces include bringing [...]
While many oil and gas producing countries are maximizing the present global crisis to improve output and revenue, rising pipeline sabotage and insecurity in the Niger Delta have continued to hamper the growth outlook for Nigeria’s oil and gas export. [...]
Nigeria’s crude oil production fell below 1 million barrels per day (bpd) in August, figures from its regulator show, as the nation grappled with rampant theft from its pipelines. The country’s total oil and condensates output dropped to an annual [...]
The Edo State governor, Godwin Obaseki, has described the continued importation of petroleum products into Nigeria, despite the country’s being one of the largest producers of crude oil in the world, as shameful. Obaseki said this on Sunday in Ewohimi, Esan [...]
Mele Kyari, group chief executive officer (GCEO), Nigerian National Petroleum Company (NNPC) Limited, says the country will stop importing petroleum products by mid-2023. Kyari spoke at a press briefing at the state house in Abuja on Tuesday. He said the combination [...]
Wasteful culture, poor management, corruption, lack of trust between state and federal governments, and worsening fiscal outlook may have played key roles in the depletion of the over $22 billion left in the Excess Crude Account (ECA) some 12 years [...]
The Federal Government has renewed a multi-million dollar pipeline surveillance contract to a former militant leader and Commander of the defunct Movement for Emancipation of Niger Delta (MEND), Government Ekpemupolo, aka Tompolo It was gathered that the government and the [...]
The Minister of State for Petroleum Resources, Dr Timipre Sylva, has said that the country loses 400,000 barrels of crude daily via oil theft. Sylva said this on Monday, when he paid a courtesy visit to Gov. Hope Uzodimma of [...]
Barely six months to expected completion of the $2.8 billion Ajaokuta-Kaduna-Kano (AKK) pipeline project, indications emerged yesterday that the delivery of the project may remain elusive despite heightened momentum for Nigeria to export gas to Europe. The Guardian gathered that [...]
Despite increase in the price of petrol, also known as Premium Motor Spirit (PMS) across the country, the Federal Government, in Abuja, yesterday, said cost of the product is still being regulated, even as it blamed marketers for the price [...]
The federal government has blamed petroleum marketers for the recent increase in petrol pump prices. The Minister of State for Petroleum Resources, Timipre Sylva, said the government was still paying subsidy on petrol imported into the country. “I can tell [...]
The Nigerian Navy says it has handed over to the Economic and Financial Crime Commission (EFCC), 70 out of 147 vessels arrested over illegal oil bunkering and crude oil theft. Director of Lesson Learnt, Emmanuel Ogala, a rear admiral, said this at [...]
For consumers optimistic of lower diesel prices or drop in inflation rate anytime soon, they may be disappointed, as oil price outlook remains volatile, alongside challenges of inflation, hiked interest rates, supply constraints and expected cold winter. With fears of [...]
Following gas cuts by Russia, the European Union is looking to Nigeria as an alternative to augment its gas needs. The Deputy Director-General of the European Commission’s Department of Energy, Matthew Baldwin, said Friday “Europe is in a tight spot in relation [...]
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has expressed concerns about the country’s production capacity, citing cases of deliberate shut of oil wells and pipelines by operators who are trying to deal with theft. According to the NUPRC, the country’s [...]
Revenues accruable to Nigeria from the sale of crude oil crashed by about N500.6bn between January and May this year, findings from various oil and gas, as well as statistical reports have indicated. It was gathered on Wednesday that the [...]
Almost two years after the Federal Government launched the Autogas Initiative on the back of National Gas Expansion Programme, prevailing circumstances, especially with rising cost of diesel, is forcing motorists, most importantly those with high fuel-consuming vehicles, to convert their [...]
Nigerians are now faced with what may be termed an existential challenge as they are not just battling escalating prices of foodstuff, but also are spending more to cook. The National Bureau of Statistics (NBS) in its Liquefied Petroleum Gas [...]
The solution to fuel scarcity in Gombe State and the entire country may not be in sight as the Independent Petroleum Markers Association of Nigeria (IPMAN) has accused the federal government of insensitivity and double standards. The union disclosed that [...]
Motorists and residents of some major cities in the South-West region and in Abuja, the nation’s capital, have started to experience the return of long queues at petrol stations. Although the situation was different in the South-East states as fuel [...]
Major oil producers led by Saudi Arabia and Russia began talks Thursday on whether to adjust output, hard on the heels of an EU ban on Russian oil imports. Analysts had expected OPEC+ producers to likely stick to their policy [...]
EU leaders have struck a deal to ban most Russian oil imports as they seek to deprive Russia’s president Vladimir Putin of revenues to fund his war in Ukraine. The embargo, which was agreed after weeks of difficult negotiations, will [...]
Barely a week after the intervention that fixed aviation fuel at N480/litre, Jet-A1 scarcity has hit local airlines causing multiple flights delay. The Guardian learnt that more than half of scheduled flights were delayed for hours yesterday. The operating carriers [...]
Fuel queues persisted in the Federal Capital Territory on Monday as filling stations struggled to control desperate drivers waiting to buy the Premium Motor Spirit, PMS, at the official price. Racketeers had a field day, selling a litre of PMS [...]
Indications emerged Friday that fuel queues have resurfaced in petrol stations across Abuja, the nation’s capital city, with many motorists scrambling to get petroleum products. The immediate cause of the latest queues in Abuja remains unknown as filling stations in the [...]
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