OIL & GAS

The Independent Petroleum Marketers Association of Nigeria, Gusau Depot, has threatened to stop transporting petroleum products within Sokoto, Kebbi, Zamfara and parts of Katsina state. The threat came following the Federal Government’s failure to settle its N40bn outstanding payment to IPMAN members, IPMAN’s…

Fuel queues persisted in the Federal Capital Territory on Monday as motorists waited for hours at filling stations to get the Premium Motor Spirit, PMS. Several filling stations were closed while some of those selling the PMS stopped mid-day on the excuse that…

As the Nigerian National Petroleum Company Limited (NNPC) continues to default in its contribution to the federation account, Saudi Aramco, owned by the Saudi Arabian government yesterday posted an 82-per cent jump in its first quarter profits. While Nigeria has failed to…

Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has faulted claims by Independent Petroleum Marketers Association of Nigeria (IPMAN) that its members are owed N500 billion bridging refunds. The agency said that so far paid over N58 billion to oil marketers as bridging…

The Association of Distributors and Transporters of Petroleum Products, ADITOP, says the high cost of Automotive Gas Oil, AGO, used by petroleum tankers and the low freight rate are responsible for current fuel scarcity in the FCT. The AGO, popularly called diesel…

Major Oil Marketers Association of Nigeria (MOMAN) has debunked claims Aviation Turbine Kerosene (ATK), also known as aviation fuel, was sold at N700 per litre in some parts of the country. Mr Clement Isong, executive secretary of MOMAN spoke to News Agency of…

The scarcity of the Premium Motor Spirit (PMS), otherwise known as petrol, worsened in the Federal Capital Territory (FCT) yesterday. Black market dealers had a rosy day as they sold a litre for N450 and 10 litres for N4,500. While the retail outlets…

The House of Representatives on Monday held a stakeholders meeting to resolve the crisis trailing the aviation fuel price increase, with the Nigerian National Petroleum Company Limited and domestic airline operators reaching a deal. It was agreed that the NNPC would supply Jet-A1…

The Nigerian National Petroleum Corporation has ascribed the sudden appearance of fuel queues in parts of Abuja to low loadouts and increased purchases that characterise post-holiday periods. Recall that most filling stations in Abuja and neighbouring states of Nasarawa and Niger that dispensed…

Some petroleum products marketers have warned that the pressure being mounted by local airline operators on the federal government to begin arbitrary control of the price of Aviation Turbine Kerosene (ATK), commonly known as aviation fuel, was to force government to introduce…