NNPC Rules out Fuel Scarcity This Year, Says it Has 2.9 bn Litres In Stock
Oil and Gas November 11, 2020
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
Oil and Gas September 15, 2020
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
Oil and Gas September 3, 2020
… 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
Oil and Gas August 25, 2020
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
Oil and Gas July 12, 2020
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
Oil and Gas February 19, 2020
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
Oil and Gas July 4, 2019
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
Oil and Gas April 17, 2019
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
Oil and Gas March 24, 2019
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
Oil and Gas March 14, 2019
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