OIL & GAS

A year after Nigeria’s state-oil firm secured an injunction from an Abuja high court restraining the sale of shares of ExxonMobil Nigerian units to any third party, Mele Kyari, head of the NNPCL, claims the corporation had no hand in scuttling divestment plans…

The Nigerian National Petroleum Company Limited (NNPCL) has said that there have not been payments for subsidy on Premium Motor Spirit (PMS) otherwise called petrol or fuel to marketers since January 2016. It stated that it will reconcile subsidy deductions with the federation. These…

The projected mass rollout of Compressed Natural Gas (CNG) refilling outlets across all states of Nigeria is becoming a reality with seven banks ready to manage a revolving fund facility from the African Development Bank(AfDB). The Independent Petroleum Marketers Association of Nigeria (IPMAN)…

The Independent Petroleum Marketers Association of Nigeria (IPMAN) and Association of Distributors and Transporters of Petroleum Products (ADITOP) have denied plans to increase petrol price to N700 per litre. The associations in an interview with the News Agency of Nigeria (NAN), in Abuja…

President Bola Tinubu has begun putting in place a structural approach to make available cheap fuel through compressed natural gas (CNG) and liquefied natural gas (LPG) to mitigate the effects of the subsidy removal on Nigerians. The Group CEO of the Nigerian National…

The Nigerian National Petroleum Company Limited (NNPCL) on Tuesday, denied claims that it already gave a license to Alhaji Aliko Dangote, owner of the Dangote refinery to import the Petroleum Motor Spirit (PMS) also known as petrol pending completion of his refinery The…

The Nigerian National Petroleum Company Limited has issued a fresh circular to oil marketers on how much they will pay to get petroleum products. This came about two weeks after the Federal Government announced the removal of fuel subsidy. NNPCL Retail, in a circular…

The Nigerian National Petroleum Company Limited (NNPCL) has released a new ex-depot price of N479.50 per litre of Premium Motor Spirit (PMS) petrol to the marketers. It was also gathered the marketers are not against the removal of subsidy but are worried that the…

Nigeria has agreed to cut its Organisation of Petroleum Organisation (OPEC) crude production, to ensure global oil market stability, a statement by the country’s delegation to the meeting in Vienna, has said. Alongside other African countries which have struggled in the last few…

With the removal of subsidy on petrol in the country,  the Nigerian National Petroleum Company Limited (NNPC) is set to discontinue crude oil swap in favour of cash payments for petrol imports. To this effect, the company is  is winding down crude oil…