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Oil & Gas - Page 76

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·Oil & Gas

Tinubu Tables Request After State Governors Back Fuel Subsidy Removal

The Nigerian Governors’ Forum (NGF) has thrown its weight behind the removal of fuel subsidy by President Bola Tinubu. According to the Chairman of the governors’ forum, AbdulRahman AbdulRazaq, Governor of Kwara State, the group will work with Tinubu to cushion the

June 8, 2023

Dangote Cement GMD Defends Company's Prices After Criticism

Business·Oil & Gas

NNPC Reveals Dangote Yet To Request Crude Oil Since Commissioning Refinery

The Nigerian National Petroleum Company (NNPC) Limited has revealed that Dangote Refinery is yet to receive crude as the company owned by Aliko Dangote hasn’t made any request. NNPC Limited spokesperson, Garba-Deen Muhammad, made this known while addressing the national oil firm’s

June 8, 2023

Business·Oil & Gas

Fuel Subsidy: FG Should Deregulate, Sell Refineries For Efficiency- Envoy To Burundi

Nigeria’s Ambassador to Burundi, Mr Elijah Onyeagba, has urged the Federal Government to adhere to the provisions of the Petroleum Industry Act (PIA) on deregulation to allow private sector players to come in. He said that private investors’ participation in the oil

June 6, 2023

Business·Oil & Gas

KPMG: Benin, Other Neighbouring Countries Benefit From Nigeria’s Fuel Subsidy

KPMG Nigeria has revealed that the removal of fuel subsidy by President Bola Tinubu has led to the price of petrol rising in Benin Republic. According to the financial consulting firm in its report; “Removing Fuel Subsidies in Nigeria,” the cost of

June 6, 2023

Fuel Stations To Increase Petrol Price To Over N700, Oil Marketers Give Reasons

Business·Oil & Gas

Gap In Black Market, Official USD Rates Won’t Let Us Import Fuel – Marketers

Oil marketers in Nigeria have revealed the reason importing fuel alongside the Nigerian National Petroleum Company (NNPC) Limited might be impossible. It was stated that their inability to source foreign exchange with the official rate could have dire consequences on private companies

June 6, 2023

Yusuf, has called on the Nigerian government to prioritise the need to address core issues currently affecting the citizens as a result of the removal of subsidy on Premium Motor Spirit (PMS) also known as petrol.

Business·Oil & Gas

Petrol Crisis: Why States Should Manage Refineries – Ex-labour Leader

As the challenge of local production and distribution of petroleum products continues to rock Nigeria, a former deputy president of the Nigeria Labour Congress (NLC), Amechi Asugwuni, has advised the Federal Government to consider the option of allowing states access to manage

June 5, 2023

Nigeria’s Crude Oil Production Surges To 1.3mbpd

Business·News·Oil & Gas

Oil Prices Jump 2% As Saudi Arabia Plans Deeper Output Cuts

Saudi Arabia plans to deepen oil output cuts in July and this has shut up oil prices by as high as two per cent (2%), more than $1.5 a barrel, on Monday. The world’s top exporter of crude oil had pledged to

June 5, 2023

NNPC Denies Plans To Increase Fuel Price

Business·News·Oil & Gas

NNPC Ends Oil Swap Contracts, To Pay Cash For Petrol Imports

NNPC Ltd, the Nigeria state oil firm, is winding down crude swap contracts as its chief executive announced decision to henceforth pay cash for gasoline imports. The NNPC Ltd has been importing petrol from consortiums of foreign and local trading firms and

June 5, 2023

Jigawa Residents Spent More On Petrol In June

Business·Oil & Gas

Local Production Of Petrol Can Save Nigeria $21bn Of FX – IPMAN

As the crisis of petrol supply rages due to dependency on import, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has asserted that Nigeria can save about $21 billion of Foreign Exchange (FX) in a year if the products are refined locally.

June 2, 2023

NNPC Doesn’t Have Fuel To Sell – Oil Marketers’ Depot Chairman Says

Business·Oil & Gas

Kyari Says Dangote, Port Harcourt Refineries Will Not Drop Fuel Price

Dangote Refinery, Port Harcourt Refining Company and other refineries expected to come onstream in Nigeria will not reduce fuel prices in the country. This is according to the Group Chief Executive Officer of Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, during

June 2, 2023

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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 76

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

Tinubu Tables Request After State Governors Back Fuel Subsidy Removal

NNPC Reveals Dangote Yet To Request Crude Oil Since Commissioning Refinery

Fuel Subsidy: FG Should Deregulate, Sell Refineries For Efficiency- Envoy To Burundi

KPMG: Benin, Other Neighbouring Countries Benefit From Nigeria’s Fuel Subsidy

Gap In Black Market, Official USD Rates Won’t Let Us Import Fuel – Marketers

Petrol Crisis: Why States Should Manage Refineries – Ex-labour Leader

Oil Prices Jump 2% As Saudi Arabia Plans Deeper Output Cuts

NNPC Ends Oil Swap Contracts, To Pay Cash For Petrol Imports

Local Production Of Petrol Can Save Nigeria $21bn Of FX – IPMAN

Kyari Says Dangote, Port Harcourt Refineries Will Not Drop Fuel Price

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