Dangote Refinery Pledges Uninterrupted Fuel Supply, Cites Tariff Policy as Boost to Local Industry
The Refinery currently produces over 45 million liters of PMS and 25 million liters of diesel daily.
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Oando, MRS Increases Fuel Price, Risk Losing Operational License Amid Gov’t Threat
Oando, MRS, and some filling stations have began selling Premium Motor Sprirt (PMS) above N165, three weeks after the Federal Government threatened to revoke license of firms that hike fuel price. Prime Business Africa had reported last week that the Nigerian National
Nigeria Loses Largest African Oil Producer Status To Angola, As OPEC Reveals Country’s Problem
Nigeria has yet again lost its position as the largest oil producer in Africa, after producing less crude compared to Angola in June. This is the second months the country will fall behind, with May being the first. Oil companies in Nigeria
Nigerian Gov’t Stops Seplat Energy, ExxonMobil’s $1.28 billion Oil Deal
Seplat Energy Plc’s plan to acquire ExxonMobil’s shallow water business in Nigeria, Mobil Producing Nigeria Unlimited (MPNU), has hit the rock following a lawsuit filed by the Nigerian National Petroleum Company (NNPC) Limited. The domestic oil and gas company had announced in
NNPC Increases Fuel Price In Own Filling Stations Amid Scarcity In Other Private Stations
The Nigerian National Petroleum Company (NNPC) Limited has increased price for premium motor spirit (PMS) at its filling stations amid fuel scarcity. Prime Business Africa gathered that NNPC retail stations hiked fuel pump by N10 on Sunday, with motorists and individuals buying
Oando Boss, Wale Tinubu, Says Business Suffering From Oil Theft, Reveal Losses
The Group Chief Executive Officer of Oando Plc, Wale Tinubu, said Nigeria’s Gross Domestic Product (GDP) is at risk of losing millions due to the crude oil barrels pumped by oil companies that are lost to sabotage and theft. Tinubu said the
Oil And Gas Industry Is Under Siege – Last Speech Of Late OPEC Sec-Gen, Mohammad Barkindo
The oil and gas industry was hit with a shock following reports that Organisation of the Petroleum Exporting Countries (OPEC) Secretary-General, Mohammad Barkindo, passed away suddenly. Barkindo’s death came hours after he granted a speech at the Nigerian Oil and Gas (NOG)
PIA Targets Daily Increase Of Nigeria’s Oil & Gas Production – NUPRC
One of the goals for drafting the Petroleum Industry Act (PIA) signed into law in 2021 was to increase daily production of oil and gas in Nigeria to meet energy needs and export,
Crude Oil Falls Below $100, As American Firm Projects New Low
Brent crude oil fell on Wednesday below $100 after trading above the level since April last year. The depreciation in its price was driven by projected global recession in light of soaring inflation. The commodity dip to $99.78 per barrel after concerns
NNPC’s Kyari, CBN’s Emefiele Accused Of Frustrating Fuel Subsidy Investigation
The House of Representatives Speaker, Femi Gbajabiamila, criticised Group Managing Director of the Nigerian National Petroleum Company Limited, Mele Kyari, and three others for failing to appear before the lawmakers. Nigeria’s green chamber had summoned Kyari, Minister of State for Petroleum, Timipre
Crude Oil Price To Hit $45, As US Firms, Citigroup, Goldman Sachs Disagree Over Cost
American banks are divided over the future price of crude oil, as Citigroup and Goldman Sachs issue opposing forecast regarding the commodity that has skyrocketed to $102.9 per barrel globally. Since trading reopened after the global lockdown induced by COVID-19, crude oil
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