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Browsing the "Oil & Gas" Category

Petrol Price

PPMC May Crash Petrol Price As Crude Oil Prices Dip

The Pipeline Products Marketing Company (PPMC) may crash the prices of Premium Motor Spirit (PMS) petrol this month, The Nation learnt at the weekend. Speaking with The Nation on phone, the Independent Petroleum Marketers Association of Nigeria (IPMAN) National Vice [...]

October 3, 2020 Oil & Gas
FG slashes petrol price to N123.5 per litre

Petrol Pump Price Reduced To N121.50 By FG

The Petroleum Products Pricing Regulatory Agency has announced a new pump price band of N121.50 to N123.50 per litre for Premium Motor Spirit, also known as petrol. The PPPRA, which is an agency of the Federal Government, disclosed this in [...]

June 1, 2020 Oil & Gas
coronavirus cases recorded in the state are from oil workers

Wike: 60% Of COVID-19 Cases In Rivers Are Oil Workers

Rivers State Governor, Nyesom Wike, has stated that 60 per cent of coronavirus cases recorded in the state are from oil workers returning from rigs. Governor Wike disclosed this when the Management Team of Mobil Producing Nigeria Unlimited paid him [...]

May 21, 2020 Oil & Gas
Marketers Say Petrol Price Could Further Drop By ₦8/Litre

Petrol To Sell At 117 Per Litre As PPMC Slashes Ex-Depot Prices

THE Petroleum Products Marketing Company (PPMC), Wednesday, slashed the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, to N108 per litre, a move reflecting the drop in crude oil prices. It is also expected to result in [...]

May 7, 2020 Oil & Gas
Marketers Say Petrol Price Could Further Drop By ₦8/Litre

Marketers Say Petrol Price Could Further Drop By ₦8/Litre

The pump price of petrol could drop further by between N5 and N8 per litre, operators in the downstream oil sector have said. According to oil marketers, the crash in crude oil price warranted the recent slashes in petrol price [...]

April 13, 2020 Oil & Gas
FG slashes petrol price to N123.5 per litre

FG slashes petrol price to N123.5 per litre

FG slashes petrol price to N123.5 per litre: Current petrol price indicates a reduction of N1.5 on every litre of petrol purchased nationwide. It announced the reduction through the Petroleum Products Pricing Regulatory Agency, after a whole day meeting with [...]

April 1, 2020 Oil & Gas
COVID-19— Ezekwezili

Power should move to Crash in oil prices was not a surprise to me since China was bugged down by COVID-19— Ezekwezili

OBY Ezekwezili, former Minister of Education says she was not surprised at the crash of oil prices to $30 per barrel at the international market due to the outbreak of COVID-19. Ezekwezili while reacting to lamentations by other Nigerians over [...]

March 10, 2020 Oil & Gas
Wike announces Rivers’ acquisition of Shell stakes in Ogoni, gives reasons

BREAKING: Wike announces Rivers’ acquisition of Shell stakes in Ogoni, gives reasons

Rivers State Governor, Nyesom Wike, has announced that the Rivers State Government has fully acquired Shell Petroleum Development Company of Nigeria (SPDC) 45% interest in Oil Mining Lease (OML) 11 situated in Ejama Ebubu community in Eleme Local Government Area [...]

September 30, 2019 Oil & Gas
PPPRA

Nigeria transports less petrol after closure of Benin border – PPPRA

The volume of petroleum products transported from the Nigerian National Petroleum Corporation fuel depots reduced in the wake of the recent closure of the Nigerian border with Benin Republic, the Petroleum Products Pricing Regulatory Agency (PPPRA) has reported. In a [...]

September 22, 2019 Oil & Gas
Oil Prices

Oil Prices Fall As Market Eyes Trade War

Oil prices fell on Tuesday as the ongoing U.S.-China trade war cast a pall over markets, with soft South Korean data adding to concerns over emerging markets and a rise in OPEC output. U.S. crude CLc1 was down 26 cents, [...]

September 4, 2019 Oil & Gas
NNPC To Supply 10% Of India’s Crude Demand

NNPC To Supply 10% Of India’s Crude Demand

The Nigerian National Petroleum Corporation (NNPC) on Thursday expressed its readiness to maintain the supply of 10 per cent of India’s crude oil demand in the face of competing demand for the product from other countries. The Group Managing Director [...]

July 19, 2019 Oil & Gas
NNPC

Disregard Rumour Of Impending Hike In Petrol Price – NNPC

The Nigerian National Petroleum Corporation (NNPC) on Thursday advised motorists and other petroleum product consumers to disregard the trending rumour of a planned hike price of Premium Motor Spirit, popularly known as petrol. It explained that the statement of the [...]

July 12, 2019 Oil & Gas
Four Refineries To Work By 2023, Says NNPC Boss

Four Refineries To Work By 2023, Says NNPC Boss

With a promise to reactivate all four refineries before the expiration of President Muhammadu Buhari’s administration in 2023, Mele Kyari yesterday took the baton from Dr. Makanti Baru as the Group Managing Director (GMD) of the Nigerian National Petroleum Corporation [...]

July 9, 2019 Oil & Gas
Army Bans Sale Of Petroleum Products In Jerry Cans

Army Bans Sale Of Petroleum Products In Jerry Cans

The Nigerian Army has placed a total ban on the sale of petroleum products in jerrycans in three states affected by the Boko Haram insurgency. The states are Borno, Yobe and Adamawa. An army spokesman, Ado Isa, said in a [...]

June 22, 2019 Oil & Gas
cooking gas

Nigerians Paid Less For Cooking Gas In April 2019

The price of cooking gas in Nigeria decreased by -0.87% month-on-month and decreased by -0.57% year-on-year, a National Bureau of Statistics, NBS, report has shown. The report titled, Liquefied Petroleum Gas, LPG, (Cooking Gas) price watch, was published on Tuesday [...]

May 15, 2019 Oil & Gas
Agip

FG Drags Agip And Brasoil To The Court Of Appeals For Undeclared Crude Oil Shipment

The Federal Government, on Wednesday, documented a Notice of Appeal, testing the choice of a Federal High Court Lagos, which expelled an obligation recuperation suit it recorded against Nigeria Agip Oil Company Ltd, and Brasoil Services Company Nigeria Ltd over [...]

May 9, 2019 Oil & Gas
Buhari Orders Import Waivers For 3 Modular Refineries

President Buhari Orders Import Waivers For 3 Modular Refineries

The projection by the Federal Government that Nigeria would begin fuel export by the end of 2019 is being threatened by imminent failure of 33 modular refinery licensees across the country. These modular refinery licenses, checks by New Telegraph shows, [...]

May 7, 2019 Oil & Gas
Governors Fuel Insecurity To Raise Security Votes – Magu

Governors Fuel Insecurity To Raise Security Votes – Magu

The acting Chairman of the Economic and Financial Crimes Commission, Mr Ibrahim Magu, on Wednesday hit at state governors, saying that some of them deliberately fuelled insecurity in their states just to collect more money as security vote. He noted [...]

May 2, 2019 Oil & Gas
Nigeria, Saudi Arabia Meet To Boost Refineries, Pipelines, Others

Nigeria, Saudi Arabia Meet To Boost Refineries, Pipelines, Others

Nigeria’s petroleum downstream sub-sector, especially refineries, pipelines and others may witness a major overhaul following ongoing talks between the Federal Government and the Saudi authorities in Riyadh. The Minister of Energy Industry and Mineral Resources of the Kingdom of Saudi [...]

April 26, 2019 Oil & Gas
petrol

Petrol Landing Cost Now N180 Per Litre, Says Kachikwu

The landing cost of Premium Motor Spirit, also known as petrol, is N35 higher than the pump price of N145 per litre, the Minister of State for Petroleum Resources, Dr Ibe Kachikwu, said on Tuesday. Kachikwu said the rise in [...]

April 17, 2019 Oil & Gas
scarcity of Premium Motor Spirit

Fuel Scarcity Hits Ekiti

The scarcity of Premium Motor Spirit commonly known as petrol bit harder in Ekiti State yesterday as most filling stations in the state were closed. The few stations, mostly those of Nigerian National Petroleum Corporation and major marketers, which opened [...]

April 14, 2019 Oil & Gas
petrol

Nigeria has Enough Fuel, Says Kachikwu

The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, on Sunday assured Nigerians that there is sufficient Premium Motor Spirit (PMS), also known as fuel in the country. Kachikwu, in an Interview with the News Agency of Nigeria (NAN) [...]

April 14, 2019 Oil & Gas
Construction Of Katsina Refinery

Nigeria, Niger Urged To Fast Track Construction Of Katsina Refinery

Nigeria and Niger Republic have been urged to fast track the construction of the Katsina Refinery to improve economic relations between the two nations. In an interview with Voice of Nigeria, the Governor of Katsina State, Aminu Masari said that [...]

April 13, 2019 Oil & Gas
Concerns As 211 Nigerian Oil Blocks Remain Idle

Concerns As 211 Nigerian Oil Blocks Remain Idle

More than 50 per cent of Nigerian oil and gas blocks remain untapped even as crude oil production continues to hover around two million barrels per day while gas shortages persist in the country over the years, ’FEMI ASU reports [...]

April 8, 2019 Oil & Gas
Khalid Al-Falih met with President Muhammadu Buhari On Oil Price

Khalid Al-Falih met with President Muhammadu Buhari On Oil Price Stability

Saudi Energy Minister Khalid Al-Falih met with President Muhammadu Buhari and discussed cooperation between the two OPEC member countries in the energy sector, the minister said in a tweet on Saturday. Al-Falih said that he met with Buhari on the [...]

April 7, 2019 Oil & Gas
Switzerland to sue Nigeria over 2018 oil tanker seizure

Switzerland to sue Nigeria over 2018 oil tanker seizure

Authorities in Switzerland have begun planning legal action against the Nigerian government for seizing and detaining a Swiss-flagged oil tanker in January last year. Reports by various online maritime websites said San Padre Pio and four of its original 16 [...]

April 4, 2019 Oil & Gas
crude oil rises

Crude Oil Price Climbs To $68 As Supplies Tighten

Crude oil price climbed more than one per cent with United States crude hitting a 2019 high yesterday after tight supply and positive signs for the global economy drove both benchmarks’ largest first-quarter gains in nearly a decade. The price [...]

April 2, 2019 Oil & Gas
NCC

NCC to clamp down on importers, traders without type-approval certificate

Worried by the high level of e-Waste being imported into the country, the Nigerian Communications Commission (NCC), is set to clampdown on importers and sellers of handsets and other telecommunications devices brought into the country without type-approval certificate. To this [...]

March 8, 2019 Oil & Gas
petrol subsidy

Experts to Buhari: Remove petrol subsidy, cut interest rates

Foreign and local economic experts have said President Muhammadu Buhari should put at the top of his second-term agenda the removal of petrol subsidy as well as the reduction of interest rates in a bid to stimulate investments and economic [...]

March 6, 2019 Oil & Gas
Nigeria loses out as operators shun local ship registry

Customs duty: Nigeria loses out as operators shun local ship registry

Prohibitive customs duty has been identified as the reason why Nigeria has not been able to benefit from earnings in vessel registration. Nigerian flagged ships are required to pay 15 per cent customs duty while the foreign flagged ones attract [...]

February 4, 2019 Oil & Gas