NNPC Rules out Fuel Scarcity This Year, Says it Has 2.9 bn Litres In Stock
Despite the industrial action embarked upon by the senior oil workers in the country, the Nigerian National Petroleum Corporation (NNPC)  has said that  there would not be petroleum scarcity  till the end of the year, as it  has over 2.9 billion litres of Premium Motor Spirit (PMS),  to service... Read more
FG to Kick off  Free Conversion of Cars Engines for Gas Usage from Oct
As part of measures to cushion the effect of the hike in price of fuel  on the citizenry , the Federal Government will commence the conversion of cars and generating plants for the use of  gas, free of charge  from next month . The Minister of State for Petroleum... Read more
Petrol Price Increases to N151.56 Per Litre
… as Oil Marketers Deny FG on N5.35bn  Subsidy payment The Federal Government has from  September 2, 2020, increased to N151.56 , the pump  price of a litre of  petrol , otherwise called premium motor spirit(PMS). The new development was contained in a memo released by the Pipelines and... Read more
World’s largest LNG Bunkering Ship Arrives in Rotterdam
The World’s Largest Bunkering Vessel     The 18,600-cbm LNG bunkering newbuild Gas Agility has finally arrived offshore Rotterdam as it prepares to start operations. The 135 meters long vessel owned by Japan’s Mitsui O.S.K. Lines serves a long-term charter contract with France-based energy giant Total. The vessel arrived... Read more
NASU Canvasses Reversal to  Old  Pump Price of Fuel
  The Federal Government has again been asked to revert to the old pump price of N123.50 per litre of fuel. The government had announced through the Petroleum Products Pricing Regulatory Agency (PPPRA) to marketers that the Premium Motor Spirit (PMS) or petrol should now sell for N143.8 from... Read more
Oil Theft: Nigeria Loses $750m In 2019
Mele Kyari, MD, NNPC   About $750 million was lost to  oil theft in 2019,  according to the  Nigerian National Petroleum Corporation (NNPC) Group Managing Director, Mallam Mele Kyari, who also  decried the growing activities of oil thieves and pirates, which he described as a threat to the operations... Read more
Smuggling of Nigeria’s Petrol  to Mali, Ghana  Others blamed on Price Disparity
Price disparity of Premium Motor Spirit, known as petrol , between  Nigeria on one hand   and  Ghana,  Burkina Faso, Mali and Cote d’Ivoire on the other hand.is responsible for  the massive smuggling of the product  to these countries , from Nigeria.   The Nigerian National Petroleum Corporation(NNPC) which made... Read more
FG Says Petrol Landing Cost Is Now N185 Per  Litre
  In what could be interpreted to mean an explanation for the ongoing subsidy on fuel consumption by Nigerians and justification of an  impending increase in the pump price of fuel  any moment, the Federal Government has said that the  landing cost of Premium Motor Spirit, also known as... Read more
FG Told to Halt Allocation of Oil Blocks to Individuals, Corporate Bodies
 The Federal Government has been asked to stop allocating oil blocks to individuals and corporate bodies.   Activist Lawyer, Femi Falana (SAN) gave the advice in a letter dated March 20 and addressed to President Muhammadu Buhari.   He said he would not hesitate to file a suit against... Read more
Bonny Light Price Rises to $67.48 Per Barrel
The price of Nigeria’s premium oil grade, Bonny light  has risen from $66.00 to $67.48 per barrel, the highest in recent times, as the Organisation of Petroleum Exporting Countries, OPEC; continue to eliminate excess oil from the global market. This showed an excess of $6.48 against the $60 per... Read more