OIL & GAS

The federal government says the fixed pump price of premium motor spirit (PMS) remains N165 per litre as stipulated in the petroleum product pricing template. This was made known by top officials of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the…

The Independent Petroleum Marketers Association of Nigeria (IPMAN) yesterday faulted the Pipelines and Product Marketing Company (PPMC) for the recent scarcity of premium motor spirit (PMS) in the country. The Chairman, IPMAN, Lagos Satellite Depot, Mr. Akin Akinrinade, at a media briefing…

Employees of the Independent Petroleum Marketers Association of Nigeria (IPMAN) will not get their salaries until they obtain the Permanent Voter Card (PVC). This came on the heel of an earlier directive by IPMAN’s National President, Mr Chinedu Okoronkwo, asking its employees nationwide…

President Muhammadu Buhari has approved a raise in freight rate for petroleum transporters above the current N25 per kilometre to enable transporters get diesel in trucking petrol and other products. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), in a statement on…

The South West Zone of the Independent Petroleum Marketers Association of Nigeria (IPMAN), on Wednesday, said petrol may sell for between N180 and N200 per litre in the zone. The Zonal Chairman of the Association, Dele Tajudeen who gave the hint in…

Revenue made by the Nigerian National Petroleum Corporation from crude oil sales in one year has been put at N1.7trn. The corporation’s latest monthly and financial report for August said the sum was earned from March 2020 to March 2021 after it lifted…

Operators in the oil and gas sector as well as other stakeholders are uncomfortable with the continued rise in the amount spent in subsidising Premium Motor Spirit, popularly called petrol, as it jumped to N947.51bn between January and April 2022. An analysis of…

The Group Managing Director of Nigerian National Petroleum Company (NNPC) Limited, Mr. Mele Kyari, yesterday, assured Nigerians of its resolve to complete the ongoing rehabilitation of Port Harcourt Refinery by March, 2023. Kyari gave the assurance during the resumed investigative hearing into…

The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr. Gbenga Komolafe, has said Nigeria lost about N434 billion (about $1 billion) to oil theft between January and March this year. The huge amount lost to oil theft was disclosed…

National cooking gas demand has dropped by 38 percent, according to the Nigerian Association of Liquefied Petroleum Gas Marketers, NALPGAM. The revelation came on the heels of clamours by a group of experts on Tuesday that demand for Liquefied Natural Gas, popularly known…