The Nigerian National Petroleum Company (NNPC) says the country will not experience petrol scarcity in December and beyond, as it has made adequate arrangements for supply. The Chief Financial Officer of NNPC ltd, Mr. Umar Ajia, disclosed this in Abuja on Monday when he appeared before an ad hoc committee of the House of Representatives […]Read More
The Federal Government of Nigeria has spent N12.43bn in 2022 on pipeline protection and maintenance has paid $4.04bn to five international oil companies as cash call arrears repayment. In a report obtained from the Nigerian National Petroleum Company Limited on Sunday, on pipeline security/maintenance cost showed that the N12.43bn was spent by the government through […]Read More
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has called for proactive measures to curb high rate of oil theft and pipeline vandalism to spur productions in Nigeria. PENGASSAN President, Mr Festus Osifo, made the call on Wednesday, in Abuja at a news conference heralding its new Advocacy Programme with the theme […]Read More
The Federal Government has disclosed that it paid oil marketers N103.03bn in the past eight months as bridging cost for the transportation of petrol across the country. The government’s clarification came two days after the Northern Forum of the Independent Petroleum Marketers Association of Nigeria, IPMAN, threatened to withdraw their services citing huge debts owed […]Read More
The Africa Oil Week has announced that former president, Rtd. Gen. Olusegun Obasanjo will continue his tenure as Chairman of Africa Oil Week for the foreseeable future. This was disclosed in an official statement released by the organisers. It read, “The former president of the Republic of Nigeria is continuing as chairman of the leading Oil […]Read More
The Chief Executive Officer and Group Managing Director of the Nigerian National Petroleum Company Limited (NNPC Ltd), Mele Kyari, has said the company would only follow suit with whatever the state decides on fuel subsidy. Malam Mele Kyari made the statement known on Tuesday to newsmen after President Muhammadu Buhari unveiled the New NNPC Ltd […]Read More
Russia’s invasion of Ukraine has made the global energy crisis even worse. Demand for oil had already begun to shoot up after the world’s major economies began to recover from the COVID-19 pandemic. But Moscow’s decision to invade its’ neighbour has prompted governments to seek supplies from elsewhere, contributing to the threat of a major […]Read More
The Organisation of Petroleum Exporting Countries (OPEC), led by Nigeria’s Sanusi Barkindo and its allies known as OPEC+, yesterday agreed to adhere strictly to their existing policy of gradual oil output increases in the coming months. However, the oil producers’ group revised its 2022 demand outlook upwards, even as it stated that it was sticking […]Read More
Total Nigeria Plc has appointed Dr. Samba Seye as the managing director of the company. According to a statement posted on the Nigerian Exchange Limited website, his appointment is effective from Wednesday, (today). He replaces Mr. Imrane Barry who has been reassigned to TotalEnergies SE Headquarters in Paris. The statement said before his appointment, Barry […]Read More
The Co-founder and Vice Chairman of Platform Petroleum Limited, Mr. Austin Avuru, has bemoaned Nigeria’s inability to use over $400 billion earned in the oil and gas exploration and exploitation in the last 60 years in the country to transform Nigeria and make life meaningful for the citizens. Avuru also stated that oil and gas […]Read More
The Petroleum Product Pricing and Regulatory Agency said on Thursday it did not have records of the volume of Premium Motor Spirit, otherwise known as petrol, being consumed daily in Nigeria. The agency said the only record available to it was that of the PMS being discharged at the various depots nationwide and the volume […]Read More
House of Representatives Committee on Finance on Wednesday walked out on the Pipeline Products Pricing Regulatory Agency (PPPRA), for failing to give appropriate figures on its daily output of Petroleum Motor Spirit (PMS), and other petroleum products. The Chairman of the Committee, James Faleke and members, after deliberations concluded that there were discrepancies in the […]Read More
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