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Oil & Gas - Page 22

U.S. Seizes Sanctioned Venezuelan Oil Tanker, Escalating Tensions

The United States has seized a sanctioned Venezuelan oil tanker off the country’s coast, President Trump announced Wednesday, escalating tensions with Caracas and sending oil prices higher. “We’ve just seized a tanker on the coast of Venezuela, very large, largest one ever,”

December 11, 2025

Business·News·Oil & Gas

Petrol Landing Cost Drops By N36, Offering Some Relief Amid High Prices

The cost of landing petrol in Nigeria has dropped by N36, reaching N900.28 per litre on Thursday, December 12, 2024. This price reduction, reported by the Major Energies Marketers Association of Nigeria, represents a 3.62% decline from the previous cost of N936.75

December 13, 2024

Business·News·Oil & Gas

Port Harcourt Refinery Rehabilitation Is over 90% completed — NNPCL Confirms

The Nigeria National Petroleum Company Limited (NNPCL) has announced that the New Port Harcourt Refinery (NPHR) is over 90% complete, with expectations to boost Nigeria’s local refining capacity. This update was shared by Mele Kyari, the Group Chief Executive Officer (GCEO) of

December 10, 2024

Business·News·Oil & Gas

Equinor Ends Operation In Nigeria After 30 Years, Sells $2bn Asset

Equinor has completed the sale of its stakes in Nigeria and Azerbaijan for a total of up to $2 billion. This move ends the Norwegian energy company’s 30-year presence in both countries as it seeks to streamline its global operations. The company

December 9, 2024

Fresh Petrol Price Hike Stokes Fears Of Further Inflation Spike In Nigeria

Business·News·Oil & Gas

Marketers Assure Petrol Price Drop, Zero Scarcity During Yuletide

Petroleum marketers have assured that there will be price reduction and zero scarcity of petroleum products nationwide, especially Premium Motor Spirit (PMS), during the Yuletide season. Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) gave the assurance after signing a deal

December 7, 2024

Port Harcourt Refinery Shutdown: Marketers Call On Minister, NNPCL GCEO To Intervene

Business·News·Oil & Gas

Work Ongoing On 150,000bpd Second Port Harcourt Refinery – Presidency

The presidency has confirmed that work is progressing steadily on the 150,000 barrels per day (bpd) plant of the Port Harcourt Refinery in Rivers State. Special Adviser on Information and Strategy to President Bola Tinubu, Mr. Bayo Onanuga, shared this update after

December 6, 2024

PMS Price: Marketers Raise Concerns Over Epileptic Fuel Supply

Business·News·Oil & Gas

How Marketers Import 2.3bn Litres of Fuel In 3 Months Despite Local Refinery Operations

Marketers Persist with Fuel Imports Despite the operational launch of two major refineries in Nigeria, the Dangote Petroleum Refinery and the Port Harcourt Refining Company, oil marketers have continued to import fuel. Between September 11 and December 5, 2024, a total of

December 5, 2024

Business·News·Oil & Gas

Port Harcourt Refinery: Mixed Feelings Over Nigeria’s Energy Future

The Long Journey to Resuscitating the Port Harcourt Refinery Nigeria’s Port Harcourt Refinery has long been a symbol of the nation’s struggle for energy independence. Once heralded as a beacon of industrial might, years of neglect turned it into a dormant shell,

December 5, 2024

Dangote Refinery: Mixed Reactions Among Marketers On Advance Payments For Petrol

Business·News·Oil & Gas

Dangote Refinery: Oil Marketers Differ On Advance Payment Rule

Refinery’s Advance Payment Policy Sparks Debate Oil marketers in Nigeria have shared diverse opinions on the recent directive from Dangote Refinery requiring advance payment before marketers can offtake petroleum products. This demand departs from the conventional post-delivery payment system previously common in

December 2, 2024

Business·News·Oil & Gas·Top Stories

Why Port Harcourt Refinery Has Not Commenced Bulk Sales – NNPC

The Nigerian National Petroleum Company Limited (NNPC) has clarified the operational status of the Port Harcourt Refinery, stating that bulk sales of refined petroleum products have not commenced due to the ongoing finalization of essential processes. Port Harcourt Refinery Still Undergoing Adjustments

November 30, 2024

Business·News·Oil & Gas

Port Harcourt Refinery Working At 90% As NNPC Refutes PETROAN’s 70% Operational Capacity

NNPC Denies PETROAN’s Statement The Nigerian National Petroleum Company Limited (NNPC) has clarified that the Port Harcourt refinery is operating at 90% of its capacity, not 70% as claimed by the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN). In a

November 29, 2024

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Venezuela Condemns Trump’s Threat, Pledges to Defend Sovereignty

The government of Venezuela has condemned what it described as

Bank of Japan Poised to Lift Rates to 30-Year High as Inflation Pressures Persist

The Bank of Japan (BOJ) is set to raise its

SEC Orders Full Registration of Tradable Instruments by January 2026

The Securities and Exchange Commission (SEC) has ordered all Capital

UK Targets Sugary Milk Drinks as Government Tightens Health Levy

The UK Labour government has expanded its existing sugar tax

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Oil & Gas - Page 22

U.S. Seizes Sanctioned Venezuelan Oil Tanker, Escalating Tensions

Petrol Landing Cost Drops By N36, Offering Some Relief Amid High Prices

Port Harcourt Refinery Rehabilitation Is over 90% completed — NNPCL Confirms

Equinor Ends Operation In Nigeria After 30 Years, Sells $2bn Asset

Marketers Assure Petrol Price Drop, Zero Scarcity During Yuletide

Work Ongoing On 150,000bpd Second Port Harcourt Refinery – Presidency

How Marketers Import 2.3bn Litres of Fuel In 3 Months Despite Local Refinery Operations

Port Harcourt Refinery: Mixed Feelings Over Nigeria’s Energy Future

Dangote Refinery: Oil Marketers Differ On Advance Payment Rule

Why Port Harcourt Refinery Has Not Commenced Bulk Sales – NNPC

Port Harcourt Refinery Working At 90% As NNPC Refutes PETROAN’s 70% Operational Capacity

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UK Targets Sugary Milk Drinks as Government Tightens Health Levy

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Oil & Gas - Page 22

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