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
NNPC Plans Fertilizer, Power Plants in Abuja, Kano, Kaduna , Bayelsa
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
Fuel Diversion: NNPC Partners with African Transportation Union
 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
Oil Marketers Direct Members to Shut Down Operations
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 $100 a Barrel by 2019 – Trafigura
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 to Crash  to 1.43m Barrels Per Day  in July
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