OIL & GAS
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Marketers kick against N5 reduction in petrol pump price
Against the backdrop of the N5 reduction in the price of Premium Motor Spirit (petrol) announced by the Federal Government,…
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FG announces reduction in fuel price to N162.44 per litre
The Federal Government has announced a reduction in the pump price of premium motor spirit, otherwise known as petrol, from…
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‘Tax exemption for modular refineries, LPG to reduce pollution, boost employment’
Tax reliefs and waivers for investors in modular refineries and Liquefied Petroleum Gas (LPG) plant will reduce environmental degradation and…
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Nigeria resumes petrol import from China
Nigeria, Africa’s biggest oil producer and exporter, has resumed importation of petrol from China, the world’s top crude oil importer.…
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NNPC projects N11tn revenue for 2021, $14bn industry spending
The Nigerian National Petroleum Corporation plans to generate N11.39tn revenue in 2021, while projecting an increase in oil and gas…
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FG plans one million gas-fired vehicles by 2021
The Federal Government on Sunday announced that the President, Major General Muhammadu Buhari (retd.), will roll out the National Gas…
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TCN admits national grid’s collapse, plans probe
The Transmission Company of Nigeria has said it will conduct investigations to establish the cause(s) of the multiple tripping that…
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NNPC presents first budget to N’Assembly in 43 years
The House of Representatives, on Thursday, hailed the Nigerian National Petroleum Corporation for presenting its budget to the National Assembly…
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Oil falls to $47 as fate of OPEC+ deal uncertain
The international oil benchmark, Brent crude, pared some of its recent gains on Thursday as what seemed to be shaping…
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Oil rises above $48 on COVID-19 vaccine hope
The international oil benchmark, Brent crude, rose above $48 per barrel on Wednesday, extending a rally driven by hopes that…
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Tank farm closure will hurt economy, say operators
Ijegun-Egba Tank Farm Owners and Operators Association has said any move to shut down its members’ tank farms will result…
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Buhari inaugurates 5,000bpd refinery in Imo
The President, Major General Muhammadu Buhari (retd.), has said the realisation of the refinery roadmap that was rolled out two…
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Crude in commercial quantity discovered in Benue Trough – NNPC
The Nigerian National Petroleum Corporation on Thursday said the volume of crude oil discovered in Benue Trough was in commercial…
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Nigeria to resume fuel imports from Niger Republic
Nigeria, Africa’s biggest oil producer, is set to resume the importation of petroleum products from a neighbouring country, Niger Republic.…
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Sylva, NNPC boss shun budget defence meeting with Reps
The Minister of State for Petroleum Resources, Timipre Sylva; and the Group Managing Director of the Nigerian National Petroleum Corporation,…
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Petrol price’ll increase when oil goes up – Sylva
The Minister of State for Petroleum, Timipre Sylva, on Monday said Nigerians would soon get used to hike in price…
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NNPC raises petrol depot price, marketers to sell at N168-N170/litre
The Petroleum Products Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation, has increased the ex-depot price of Premium…
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Nigeria’s fragile fiscal regime may stall $24bn oil, gas projects
With the continued delay in the passage of the Petroleum Industry Bill (PIB) leading to a frigile fiscal regime mired…
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Fuel scarcity looms as oil workers begin strike over IPPIS
There are palpable fears of fuel scarcity as members of the Petroleum and Natural Gas Senior Staff Association of Nigeria…
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Tank fire won’t disrupt fuel supply, says MOMAN
The Major Oil Marketers Association of Nigeria has said the recent fire outbreak at the depot of one of its…
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