OIL & GAS
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NCDMB, NNPC, others seal pacts on methanol project
The Nigerian Content Development and Monitoring Board (NCDMB), Nigerian National Petroleum Corporation (NNPC), Brass Fertilizer and Petrochemical Company Limited and…
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NNPC’s insolvency crisis worry stakeholders
Financial experts have said that low profitability, threatens the operations of the Nigerian National Petroleum Corporation (NNPC) despite attempts to…
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$1.5bn for Port Harcourt refinery rehabilitation outrageous – Reps caucus
The minority caucus in the House of Representatives has rejected the $1.5bn approval for rehabilitation of the Port Harcourt refinery,…
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Buhari puts revenue generation from NLNG at $114bn
The President, Major General Muhammadu Buhari (retd.), on Monday, said the Nigeria Liquefied Petroleum Natural Gas company has generated $114bn…
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FG moves to revive oil fabrication yard in Lagos
The Federal Government has expressed its readiness to assist in reviving a multimillion-dollar oil fabrication yard in Lagos State stalled…
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Senate summons NNPC again, cites non-remittance of N4.07tn
The Senate Public Accounts Committee has again summoned the management of the Nigerian National Petroleum Corporation over alleged non-remittance of…
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NCDMB seeks participation of local firms in gas project
The Executive Secretary, Nigerian Content Development and Monitoring Board, Simbi Wabote, has called for the inclusion of local companies in…
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Petrol price hike imminent as NNPC declares N120bn subsidy unsustainable
The Group General Manager, Nigerian National Petroleum Corporation, Mele Kyari, on Thursday said the Federal Government subsidises Premium Motor Spirit…
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Fuel marketers raise diesel price to N265 per litre
Fuel marketers raise diesel price to N265 per litreAgainst the backdrop of the recent rise in global oil prices, some…
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DPR remits N2tn to FG, seals 11 filling stations
The Department of Petroleum Resources on Thursday announced that it generated over N2tn for the Federal Government in 2020, as…
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Oil price slumps to $63 as vaccine rollout stalls
The international oil benchmark, Brent crude, fell on Thursday for the fifth straight day to its lowest in two weeks…
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FG refineries earn N21bn, lose N778bn in five years
The government-owned refineries, being run by the Nigerian National Petroleum Corporation, reported a total loss of N778.71bn from 2015 to…
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Rising oil demand to exceed OPEC supply – IEA
The world’s growing thirst for oil, combined with lacklustre upstream investment, will require the Organisation of the Petroleum Exporting Countries…
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Nigeria’s daily oil production rises to 1.42 million barrels
Nigeria increased its crude oil production to 1.42 million barrels per day in February, the latest monthly report of the…
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23 ships discharge petroleum products, others at Lagos ports
The Nigerian Ports Authority said on Tuesday that 23 ships at the Lagos ports were discharging bulk wheat, bulk gypsum,…
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NNPC subsidiaries get seven-day ultimatum to appear before Reps
The House of Representatives’ Committee on Public Accounts Committee has issued a seven-day ultimatum to heads of the 17 subsidiaries…
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Petrol subsidy to gulp N102.96bn in March
Pump price doesn’t reflect market forces, petrol being subsidised – NNPC Private sector won’t invest in oil sector if subsidy…
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Transparency concerns dog proposed sale of refineries
Decouple BPE from mainstream bureaucracy, says Yusuf As the confusion remains over the pump price of petrol after Friday’s withdrawal…
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No increase in fuel price —PPPRA
The Petroleum Products Pricing Regulatory Agency has said it does not fix the price of Premium Motor Spirit, otherwise known…
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NLNG named gas company of the year
Nigeria LNG Limited announced on Wednesday that it won the ‘Gas Company of the Year Award’ at the recently concluded…
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