OIL & GAS

The Nigerian National Petroleum Company (NNPC) Limited says it is not aware of any “missing” N20bn in the company. The company’s spokesman, Garba Deen Muhammad, in a statement on Monday, said the company knew nothing about the payment of the sum of N20bn…

World oil prices soared Monday after several top producers led by Saudi Arabia sprang surprise output cuts that defied US calls for higher production to keep inflation down. Crude futures surged almost eight percent at one stage after multiple members of the OPEC+…

The Nigeria Labour Congress and the Trade Union Congress have given conditional support for the removal of fuel subsidy.   The two labour bodies said that they would only allow the removal of fuel subsidy if the incoming administration of Bola Tinubu takes steps…

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says President Muhammadu Buhari has approved the amendment of the bid round calendar for 2022/23. The Commission Chief Executive (CCE), NUPRC, Gbenga Komolafe, in a statement on Saturday, said the approval is to accommodate the concerns…

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) says a litre of Premium Motor Spirit (PMS) commonly known as petrol should sell for between N360 and N400 after the subsidy regime. PENGASSAN President, Festus Osifo made this known to newsmen…

Nigeria is struggling to find buyers for its oil as strikes in the French refining sector and seasonal maintenance at plants elsewhere in Europe cut into the OPEC producer’s sales. Between 20 and 25 shipments of Nigerian crude for April loading are still…

The Nigerian National Petroleum Company Limited has said a total of 488.94 million litres of petrol was distributed to 63 depots across the country in the one week spanning March 11 to 17, 2023, to stabilise supply. This marked an increase of 44.2…

The Federal Government, through its Nigerian National Petroleum Company Limited, has increased the supply of Premium Motor Spirit, popularly called petrol, to independent oil marketers, in a bid to avert a further hike in the pump price of the commodity. Oil marketers confirmed on…

Eroton Exploration and Production Company Limited has assured that, it remains the Operator of OML-18 in line with the provisions of the Joint Operating Agreement (JOA), adding that, any dispute whatsoever between the parties are reserved exclusively for resolution under the Dispute…