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Oil and Gas
Colonial Pipeline Paid Hackers $5 Million In Ransom
Colonial Pipeline Co. paid nearly $5 million as ransom to East European hackers on Friday, just hours after the hacker group launched a crippling cyberattack that shut the largest fuel pipeline network in the United States.This is…
Nigeria’s Revenue Crisis May Worsen as India Slashes Crude Imports By $39.5bn
Nigeria’s revenue earning capacity has come under threat following the reduction of importation of crude oil by India.Data from India’s Petroleum Planning and Analysis Cell showed that the country, which took over from the United States…
We can’t continue fuel subsidy – FG
The Minister of State for Petroleum Resources, Chief Timipre Sylva, says the fuel subsidy regime is unsustainable in the face of dwindling revenue.He said that Nigerians must therefore prepare for increment in the pump price of…
Subsidy payment: NNPC slashes contribution to federation account
The Nigerian National Petroleum Corporation (NNPC) says increasing payment on fuel subsidy has caused its contribution to the federation account to dwindling considerably.The corporation disclosed this in a document titled, ‘January to…
Shell’s pipeline spills 213 barrels of crude into Bayelsa community
The Okordia-Rumekpe 14-inch crude truckline operated by Shell Petroleum Development Company (SPDC) has discharged some 213 barrels of crude oil into Ikarama community in Bayelsa.SPDC’s Media Relations Manager, Mr Bamidele Odugbesan,…
We’ll ensure no petroleum pump price increase- APC
The All Progressives Congress (APC) has assured that the pump price of petroleum products would not be increased in the nearest future.Sen. John Akpanudoedehe, Secretary, APC Caretaker and Extra-Ordinary Convention Planning Committee…
Petrol queues resurface in Abuja over price hike, scarcity speculation
Long queues have reappeared in Abuja for the purchase of Premium Motor Spirit (PMS), also known as petrol, one month after normalcy returned to the area.The News Agency of Nigeria (NAN) reports that long queues returned to retail…
Why FG alone can’t crash cooking gas price – Marketers
The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) says the Federal Government alone cannot halt the hike in the price of Liquefied Petroleum Gas (LPG) across Nigeria.Mr. Bassey Essien, Executive Secretary, NALPGAM,…
Shell confirms oil spill in Bayelsa community
The Shell Petroleum Development Company (SPDC) has confirmed oil spill from its facility at Agbura-Otuokpoti area of Yenagoa, the state capital.The company’s Media Relations Manager, Bamidele Odugbesan, confirmed the incident in an…
Fuel scarcity looms as tanker drivers threaten strike
The Petroleum Tanker Drivers (PTD) Branch of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has threatened to withdraw its services if the installation of safety valve is not made mandatory in petroleum trucks with effect…
We will Maintain Current Petrol ex-Depot Price- NNPC
The Nigerian National Petroleum Corporation (NNPC) says it will maintain the current ex-depot price of Premium Motor Spirit, also known as petrol, until the conclusion of ongoing engagement with the organised labour.…
Nigeria Doesn’t have Resources to Build New Refineries Now – Kyari
The Nigerian National Petroleum Corporation (NNPC) has said that the country does not have the financial muscle now to build a new refinery going by the economic situation of the country.Mele Kyari, NNPC Group…
”We are doing rehabilitation, not turnaround maintenance” – NNPC
The Nigerian National Petroleum Corporation (NNPC) said on Monday that the 1.5 billion dollars approved for the Port Harcourt refinery was for complete rehabilitation and not turnaround maintenance.The Group Managing…
Duport Modular Refinery 80% Completed, Ready for Inauguration Q4 2021 – NCDMB
The Nigerian Content Development and Monitoring Board (NCDMB) says the 2,500 Barrels Per Day modular refinery being established at Egbokor, Edo State, would be ready for inauguration by the fourth quarter of 2021.…
Oil theft allegations: Aiteo says it got short-changed alongside FG of 16 million barrels by Shell
Aiteo Exploration and Production Company on Friday alleged that the 16 million crude shortfall recorded at the Bonny Export Terminal between 2016 and 2018 is owned by them and the Federal Government.Mr Ndiana Matthew, Group Head, Media…
Refinery Rehabilitation: Ex-ANAN President Tasks FG on Judicious Use of $1.5bn
Dr Samuel Nzekwe, a former President, Association of National Accountants of Nigeria (ANAN) has called for judicious use of the $1.5 billion earmarked for the rehabilitation of the Port-Harcourt refinery.Nzekwe made…
Bayelsa Community Vacates Conoil’s Crude Production Flow Station Over Expired MoU
Residents of Koluama in Bayelsa have vacated a crude production flow station operated by Conoil Production at Ango field shut down on March 8, after a dialogue with the oil firm.The facility was shut over…
8 Petrol Stations Sealed for Selling Above Approved Pump Price -DPR
The Department of Petroleum Resources (DPR), Enugu Field Office on Monday sealed eight petrol stations in Enugu for dispensing Premium Motor Spirit (PMS) above the approved government pump price.The Head,…
Petrol Marketers Revert to N175 Per Litre in South East
Consumers of Premium Motor Spirit (PMS) in Awka, the Anambra capital and its environs heaved a sigh of relief following the quick reversal of Petrol price from between N200 and N212 to between N175 and N180 per litre.The News…
Petrol hike: IPMAN directs members to revert to old price of N170
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has directed its members in the South East zone to revert to the old price of N170 and N175 per litre.Mr Chinedu Anyaso, Chairman of IPMAN Enugu Community Depot in…
No fuel price increment until conclusion of FG, labour talks – Petroleum Minister
The Minister of State for Petroleum Resources, Timipre Sylva, says there will be no increment in the pump price of petrol until the conclusion of consultation with organised labour.Sylva gave the assurance while addressing newsmen on…
No hike in petrol price for now – Marketers
Major Oil Marketers Association of Nigeria (MOMAN) and Independent Petroleum Marketers Association of Nigeria (IPMAN) say there is no hike in the pump price of Premium Motor Spirit (PMS) or petrol.The groups confirmed the development in…
#PetrolPriceHike: NNPC Insists No Increase in Ex-Depot Price In March
The Nigerian National Petroleum Corporation (NNPC) has insisted that the ex-depot price of petrol will not be increased in March.The corporation stated this in a tweet on Friday, in apparent reaction to the hike in the retail price of…
#PetrolPriceHike: Nigerians Furious At N212 Per Litre Increment
Angry reactions have started to trail the Federal Government's announcement of a hike in the retail price of petrol to N212.6 per litre.The Herald had reported that the Petroleum Products Pricing Regulatory Agency (PPPRA) made the…
FG hikes petrol price to N212 per litre
The Petroleum Products Pricing Regulatory Agency (PPPRA) has hiked the retail price of petrol to N212.6 per litre.The agency revealed this in a petrol pricing template published midnight Thursday on its website.According to the…
Full Deregulation of Petroleum Downstream Sector -Expert
Malam Bello Rabiu , a Former Chief Operating Officer, Upstream of the Nigerian National Petroleum Corporation (NNPC) says that full deregulation of the Nigerian downstream oil sector does not stop with removal of subsidies by…
Wike wants PIB to allocate 10 per cent of revenue to oil-bearing communities
Gov. Nyesom Wike of Rivers on Thursday advocated that the Petroleum Industry Bill (PIB), currently before the National Assembly, should allocate 10 per cent oil revenue to host communities.Wike made the call when members of the National…
Dangote Grooms Nigerian Engineers to Manage Refinery Complex on Completion
The management of Dangote Oil Refinery is preparing young Nigerian graduates to take over the management of its 650,000 barrels per day single train refinery when it becomes operational in 2022.Already, the company has trained several…
No Plan to Increase Petrol Price – NNPC
The Nigerian National Petroleum Corporation (NNPC) has advised motorists to stop panic buying of Premium Motor Spirit (PMS) also known as petrol saying it has no plan to increase the ex-depot price in March.NNPC disclosed in a…
Dangote Refinery to Sell Refined Crude to FG – Emefiele
The Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, says arrangement is being made to enable the Dangote Refinery sell refined crude to Nigeria in naira when it commences production.Emefiele also disclosed that the…