OIL & GAS
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Ignore new fuel price, IPMAN tells marketers
Following the reduction of pump price of petrol from N125 per litre to N123.50 per litre, the Independent Petroleum Marketers…
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Tanker drivers, others to get 1,000 sanitisers per week –NUPENG
The Nigeria Union of Petroleum and Natural Gas Workers has unveiled plans to deliver a weekly supply of 1,000 bottles…
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NERC suspends electricity tariff increase
The Nigerian Electricity Regulatory Commission has suspended the proposed increase in electricity tariffs initially slated for Wednesday (today). NERC had…
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FG reduces petrol price to N123.5 per litre
The Federal Government on Tuesday night reduced the price of petrol from N125/litre to N123.5/litre. Current petrol price indicates a…
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COVID-19: Oil majors slash 2020 spending by 18%
The world’s biggest oil and gas companies are slashing capital spending this year following a collapse in oil prices driven…
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COVID-19: Stop loading fuel, NARTO tells tanker drivers
The national leadership of Nigerian Association of Road Transport Owners said it had directed its employees to withdraw their services…
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NNPC spent N218.18bn on ailing refineries in 2019
Nigeria’s refineries under the management of the Nigerian National Petroleum Corporation incurred a total expense of N218.18bn in 2019. The…
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Why oil licensing round bids may not hold this year
The possibilities of having an oil and gas bid round this year appears to be bleak as the coronavirus pandemic…
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Nigeria slashes crude selling prices to woo buyers
Nigeria has cut the official selling prices for its crude oil to record lows to clear a glut of unsold…
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Russia blames Gulf nations for oil price crash
Russia never sought a sharp oil price fall or an end to cooperation with Organisation of Petroleum Exporting Countries, and…
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Nigeria consumed N2.64tn petrol in 13 months, says NNPC
The Nigerian National Petroleum Corporation said on Sunday that it sold a total of 21.51 billion litres of petrol worth…
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Oil rises to $28 as Trump considers intervention
The international oil benchmark, Brent crude, halted its losing streak on Thursday, trading around $28 per barrel as the United…
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Oil price sinks to $24, lowest in 17 years
The price of Brent crude, the international benchmark, tumbled on Wednesday to the lowest level in 17 years as global…
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Oil drops to $28, dollar exchanges for N369
The price of Brent crude oil, the international benchmark, extended its decline on Tuesday, trading around $28 per barrel. Brent,…
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Oil crash: Nigeria may lose $8.63bn in six months
Recession looms, say LCCI, PENGASSAN, NUPENG Operators canvass deregulation, economic policy review Nigeria’s economy may slide into another recession…
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Oil Crash: Prepare For Tough Times – NNPC GMD
As the world grapples with the latest crude oil crash caused by the Coronavirus (COVID-19) epidemic, the Group Managing Director…
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Plunging Crude Oil Prices An Opportunity For Nigeria – MOMAN
According to Major Oil Marketers Association of Nigeria (MOMAN), falling oil prices in the international market will open up the…
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Oil dips to $32, Nigeria faces stiff competition
•We’re studying situation carefully, says NNPC Amid the escalating oil price war between Saudi Arabia and Russia, Brent crude, the…
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Shake-up as NNPC asks 40 GGMs, GMs to go
The management of the Nigerian National Petroleum Corporation has retired about 40 group general managers and general managers at the…
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Expected petrol pump price drops to N114.53 per litre
The expected open market price of Premium Motor Spirit, popularly known as petrol, has dropped to N114.53 per litre, N30.47…
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