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

  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

 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

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

Three new Independent Power Plants (IPPs) which are  expected to add 4,0000 megawatts of power to stabilise the national grid are being proposed for Abuja, Kaduna, and Kano as well as a fertilizer Plant  for Brass ,Bayelsa State by The Nigerian National Petroleum Corporation (NNPC). Chief Financial Officer of... Read more

 The Nigerian National Petroleum Corporation (NNPC) is seeking  collaboration with members of the African Union of Transportation and Logistics Organization to check rising incidents of products diversion.   The Corporation said smuggling of petroleum products remained a blight on the nation’s fuel supply and distribution matrix that must be... Read more

The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) on Sunday directed its members to shut down all loading operations by midnight. The directive was conveyed in a statement by DAPPMA’s Executive Secretary, Olufemi Adewole. The statement said oil marketers had disengaged employees due to their inability to... Read more

Oil prices could rise to 90 dollars per barrel by Christmas and to 100 dollars per barrel by the New Year, Trafigura’s Co-Head of Oil Trading Ben Luckock told a conference on Monday.   This would be an increase from the current eighty something dollars a barrel for Brent... Read more

Nigeria’s oil exports are expected to fall in July to just 1.43 million barrels per day(bpd) the lowest level so far this year, loading plans showed on Monday.   Reuters reported that the export plan for July comprised 48 cargoes, compared with 60 cargoes and a daily rate of... Read more

The Nigerian National Petroleum Corporation (NNPC) said  that it has completed the outstanding audit on its financial statements from the years 2011 to 2016, but it failed to make them public. it  stated in a statement by its spokesman Ndu Ughamadu, that the audit backlog  has since been formally... Read more