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IPMAN threatens strike over petrol price increase

IPMAN threatens strike over petrol price increase

The Independent Petroleum Marketers Association of Nigeria, South-West, has threatened to stop lifting of petroleum products over the hike in the petrol pump price. The South-West Chairman of IPMAN, Alhaji Dele Tajudeen, described the hike in the pump price by ...

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Discos get tariff guidelines for additional power distribution

Discos get tariff guidelines for additional power distribution

The Nigerian Electricity Regulatory Commission has outlined guidelines which power distributors must adhere to when purchasing additional generation capacity that will lead to higher tariffs payable by power users. According to the commission, the tariff for such additional generation capacity ...

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FG appoints, redeploys NNPC top management staff

FG appoints, redeploys NNPC top management staff

The Federal Government has carried out some changes in the top management of the Nigerian National Petroleum Corporation. It made new appointments and redeployments at the corporation and confirmed Friday’s report of The PUNCH on resignation of NNPC’s Chief Operating ...

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Petrol price: NLC demands reversal, NECA backs govt

Petrol price: NLC demands reversal, NECA backs govt

The Nigeria Labour Congress has kicked against the new fuel price of N143.8 announced by the Petroleum Products Price Regulatory Agency on Wednesday, saying “this might just be the last straw that would break the camel’s back.” The congress demanded ...

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NUPENG gives FG two-week ultimatum over bad roads

NUPENG gives FG two-week ultimatum over bad roads

The Nigeria Union of Petroleum and Natural Gas Workers has given the Federal Government a two-week ultimatum to rehabilitate the bad roads across the country. NUPENG also asked the government to immediately address the issue of multiple roadblocks and extortions ...

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OPEC oil production hits 20-year low amid cuts

OPEC oil production hits 20-year low amid cuts

The Organisation of Petroleum Exporting Countries saw its oil output hit the lowest in two decades in June as Saudi Arabia and other Gulf Arab members made larger cuts, a survey by Reuters found. The group compliance in a supply ...

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DisCos explain continuous poor power supply

DisCos explain continuous poor power supply

Despite efforts to expand electricity transmission lines, and improve supply to end-users, power distribution companies (DisCos) have said the plans may fail if the sector is not properly aligned. The DisCos claimed the sector needs effective coordination and the alignment ...

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Petrol price hits N143.8, stakeholders push for total deregulation

Petrol price hits N143.8, stakeholders push for total deregulation

The pump price band for Premium Motor Spirit has been increased from N121.5 – N123.5/litre to N140.8 – N143.8/litre for the month of July 2020. However, different stakeholders, including petroleum products marketers and the Manufacturers Association of Nigeria, said total ...

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Oil production resumes on Bonga as operator concludes maintenance

Oil production resumes on Bonga as operator concludes maintenance

Following concerns raised by the Department of Petroleum Resources (DPR), on non-compliance to COVID-19 protocols in offshore oil fields, operators of the Bonga oil field have allayed fears, noting that production is being ramped up on the field. According to ...

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Federal Government hopeful of $5.7 billion investment from marginal fields

Federal Government hopeful of $5.7 billion investment from marginal fields

If the Federal Government succeeds with its on-going bid rounds for the 57 marginal oilfields being offered to investors, it might be able to attract about $5.7billion into the economy. Although the Department of Petroleum Resources (DPR) did not put ...

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Nigeria, other African oil exporters’ll lose $34bn – IMF

Nigeria, other African oil exporters’ll lose $34bn – IMF

The impact of the COVID-19 pandemic is estimated to cost Nigeria and other oil exporters in Africa a total of about $34bn in revenue. According to the International Monetary Fund, the projected decline in revenue is attributable to the dwindling ...

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Buhari inaugurates N1 trillion gas pipeline to boost electricity, others

Buhari inaugurates N1 trillion gas pipeline to boost electricity, others

•Tasks Kaduna, Kogi, FCT on project’s two-year delivery date President Muhammadu Buhari, in company of Governor Yahaya Bello of Kogi State and his Kaduna counterpart, Nasir El-Rufai, as well as the Minister of State for Petroleum Resources, Timipre Sylva, yesterday ...

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Power grid has collapsed 108 times after privatisation – TCN

Power grid has collapsed 108 times after privatisation – TCN

N’Assembly halts electricity tariff hike The nation’s electricity grid has collapsed 108 times after the power sector was privatised, data from the Transmission Company of Nigeria have shown. The TCN, which manages the national grid, is still fully owned and ...

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Ajaokuta-Kano pipeline’ll be completed in two years – NNPC

FG appoints, redeploys NNPC top management staff

The Nigerian National Petroleum Corporation targets to complete the $2.59bn Ajaokuta-Kaduna-Kano gas pipeline project in 24 months. It said the construction phase of the 40-inch by 614km pipeline project, which is being inaugurated virtually Tuesday (today) by the President, Major ...

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No going back on petrol price control, PPPRA insists

No going back on petrol price control, PPPRA insists

The Petroleum Products Pricing Regulatory Agency on Sunday insisted that it would continue fixing price bands for petrol despite opposition by oil marketers to the move. It also declared that a regulation for Premium Motor Spirit, popularly called petrol, had ...

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6 million households await meters as DisCos braces for new electricity tariff

6 million households await meters as DisCos braces for new electricity tariff

Despite unmet metering gaps to over six million customers/households, some electricity Distribution Companies (DisCos) have begun to inform customers that tariff will rise from July 1, following approval from the regulator and the Nigerian Government. With over six million Nigerian ...

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NNPC posts N9.53bn operational loss for March

FG appoints, redeploys NNPC top management staff

The Nigerian National Petroleum Corporation on Wednesday announced a trading deficit of N9.53bn for March 2020, which stood out as the oil firm’s first operational loss since October 2018. Findings showed that the last time the corporation posted a deficit ...

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Tension at NNPC as PENGASSAN threatens strike

Tension at NNPC as PENGASSAN threatens strike

There was tension at the Nigerian National Petroleum Corporation on Wednesday, prompting the Petroleum and Natural Gas Senior Staff Association of Nigeria to threaten that it may embark on an industrial action soon. It was gathered that the threat by ...

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Delta flow station: Nigeria loses 44,000bpd of crude

Petrol price hits N143.8, stakeholders push for total deregulation

Nigeria has been losing about 44,000 barrels of crude oil daily since Saturday following the shutdown of the Odidi and Batan oil flow stations by protesting youths in some Delta oil-producing communities. The flow stations remained shut as of Sunday ...

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IPPIS: Petrol scarcity looms as PENGASSAN, NUPENG threaten strike

Petrol price hits N143.8, stakeholders push for total deregulation

​ Nigeria may face petrol scarcity if oil workers make good the threat of withdrawing their services nationwide should the Federal Government insist on registering employees in the oil sector on the Integrated Payroll and Personnel Information System. The Petroleum ...

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