OIL & GAS

Nigeria expects to stop importing petroleum products before or around the third quarter of 2023, the Minister of Petroleum Resources, Chief Timipre Sylva, has said. Reuters quoted Sylva as saying that a refurbished refinery in the city of Port Harcourt in the oil-producing…

One week after the presidential flag off of the Kolmani drilling, the Nigerian National Petroleum Company Limited (NNPC) yesterday sealed a $1.4 billion external project finance agreement jointly arranged by Standard Chartered Bank UK and the United Bank for Africa for the…

For the first time in weeks since the scarcity of Premium Motor Spirit, popularly called petrol, began, the Federal Government opened up and declared on Wednesday that there was no plan to increase the pump price of petrol, at least during the…

The Nigerian National Petroleum Company Limited (NNPC) has blamed the fuel queues in Lagos State and Abuja on some construction projects going on in the state. NNPC’s Executive Vice President, Downstream, Mister Adeyemi Adetunju, gave this explanation while addressing a news conference in…

The National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Okoronkwo, has said almost all the depots owned by Nigeria National Petroleum Corporation Ltd are not working, hence the persistent fuel scarcity in the country. Okoronkwo stated this during…

The lowest price the Nigerian National Petroleum Company Limited can sell Premium Motor Spirit, popularly called petrol, to marketers, assuming there is no subsidy, is N400/litre, it has been learnt. Oil marketers, who made the disclosure on Sunday, also gave other reasons for…

Hope for improved power supply to companies and entities operating in Lekki Free Zone axis of Lagos State has risen as NIPCO Gas Limited has signed an agreement with the NNPC Gas Marketing Limited (NGML) and Lekki Free Zone Development Company (LFZDC)…

The Major Oil Marketers Association of Nigeria (MOMAN) says it is working with the Nigeria National Petroleum Company (NNPC) Limited to improve the distribution of petrol across the country. Clement Isong, chief executive officer of MOMAN, said this on Saturday in an interview…

The frequent appearance of queues of desperate motorists at filling stations in search of Premium Motor Spirit, otherwise known as petrol, could affect the Christmas and New Year festivities, oil marketers stated on Friday. It was also gathered that oil marketers were now…