The Nigerian National Petroleum Company Limited (NNPCL) has denied reports that it intends to become Dangote refinery’s sole distributor. NNPC stated that refineries could sell directly to marketers. Reacting to an allegations by the Muslim Rights Concern (MURIC), accusing it of undermining the Dangote refinery and monopolising its products, NNPC issued a statement on Saturday […]
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The Nigerian National Petroleum Company Limited (NNPCL) is seeking to engage reputable and credible operations and maintenance (O&M) companies to operate and maintain Warri and Kaduna refineries. The refineries are the Warri Refining and Petrochemical Company (WRPC) and the Kaduna Refining and Petrochemical Company (KRPC). “The O&M tender for WRPC and KRPC will be treated as […]
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Nigeria’s Minister of State for Petroleum Resources, Heineken Lokpobiri has said the twin problem of petrol smuggling and vandalism is caused by the products subsidy and corroded pipelines. Lokpobiri made this known at the just-concluded Energy and Labour Summit 2024 organised by Petroleum and Natural Gas Senior Staff Association of Nigeria in Abuja. According to […]
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Former governor of Anambra state and presidential candidate of the Labour Party, Peter Obi, has said the Dangote Petroleum Refinery and Petrochemicals will be beneficial to the country’s economy. Recall that President Muhammadu Buhari, inaugurated the refinery, which is currently the world’s largest single-train petroleum refiner, in Lagos State on Monday. Top government officials from […]
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Oil prices increased marginally on Wednesday as Brent crude, the benchmark against which Nigeria’s crude is priced, rose to $40 per barrel for the time since March. Brent crude rose by 43 cents, or 1.1 per cent, to $40 per barrel, as of 02:52 GMT. This came as the Minister of State for Petroleum Resources, […]
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The price of oil made a remarkable comeback on Thursday, after fresh US-Iran tensions erupted. The development also helped equities advance, after US labour market figures provided a glimmer of hope for the world’s top economy. At one point, the US crude oil benchmark, WTI, was up by 20 percent on the day, having earlier […]
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The Minister of State for Petroleum Resources, Chief Timipre Slyva, said that about one billion Barrels of Crude oil have been discovered in Northeastern part of Nigeria. Sylva made the disclosure at a news Conference to end the 2020 Nigeria International Petroleum Summit (NIPS), in Abuja on Wednesday. “The figure we are getting, the jury […]
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The Federal government said oil marketers would be paid N236 billion out of N348 billion approved by the National Assembly as outstanding subsidy claims on Friday, December 14. The Chief Operating officer, Nigerian National Petroleum Corporation (NNPC) Downstream, Henry Ikem-Obih, disclosed this to journalists in Abuja on Saturday. “The Debt Management Office (DMO) will by […]
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Oil marketers have given the federal government a seven-day ultimatum to settle outstanding debts to the sum of N800 billion, failing which depots would cease operation across the country. The marketers, comprising Major Oil Marketers Association of Nigeria (MOMAN), Depot and Petroleum Products Marketers Association (DAPPMA) and Independent Petroleum Products Importers (IPPIs), said failure to […]
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Brent crude oil prices hit their highest level since November 2014 on Monday ahead of U.S. sanctions against Iran that kick in next month. Brent sweet crude oil futures rose to as much as 83.27 dollars a barrel. U.S. West Texas Intermediate (WTI) crude futures were at 73.57 dollars a barrel. Brent was pushed up […]
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