FG lied, Petrol subsidy is back - Marketers insist 
Business Oil & Gas

FG lied, Petrol subsidy is back – Marketers insist 

Oil marketers have countered the position of the Federal Government, as they insisted that the current pump price of Premium Motor Spirit, (Petrol) should not be less than N800/litre if the product was not subsidized. The marketers made this claim on Tuesday. The Federal Government had through its Nigerian National Petroleum Company Limited denied reintroducing

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Steer clear of Badagry waterways, Navy warns Petrol smugglers 
Metro Oil & Gas

Steer clear of Badagry waterways, Navy warns Petrol smugglers 

Nigerian Navy on Saturday, warned petroleum dealers in the town over smuggling of Premium Motor Spirit (PMS), known as petrol, to neighbouring countries. Capt. Adams Aliu, the Commanding Officer, Forward Operating Base (FOB) Badagry, gave the warning at a stakeholders’ meeting with the Petroleum Dealers Association, Badagry Chapter, at the Base office. “If the Federal

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Fuel Subsidy: FG allegedly paid N169.4bn in August, may pay N1.68trn in September
Business Oil & Gas

Fuel Subsidy: FG allegedly paid N169.4bn in August, may pay N1.68trn in September

The Federal Government(FG) may spend about N1.68tn as subsidy on Premium Motor Spirit, popularly called petrol, from September to December this year, an analysis of data provided by oil marketers and the sector has shown. PMS dealers stated that the pump price of petrol should be between N890 to N900/litre based on the fall of

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Dangote Petroleum Refinery importing crude, Group ED reveals
Business Oil & Gas

Dangote Petroleum Refinery importing crude, Group ED reveals

The Dangote Petroleum Refinery is currently importing crude oil and expects its first crude cargo in two weeks’ time, the Executive Director, Dangote Group, Devakumar Edwin, has revealed. Although the Nigerian National Petroleum Company Limited(NNPCL) trades crude oil on behalf of Nigeria, Edwin in an interview said the NNPCL had committed its crude to other entities.

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LPG Import From Russia Widely Welcomed
Oil & Gas

LPG Import From Russia Widely Welcomed

PESHAWAR: After arriving the first cape of Lequified Petrolium Gas via Torkham border, customs authorities on Wednesday said that as per the agreement Russia and central Asian republics have to export  0.2 million metric tons of Lequified Petroleum Gas(LPG) to Pakistan every month. Collector Custom Appraisement Torkham Muhammad Ashfaq told media that first cape of

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Anambra govt allays fears over fuel scarcity as IPMAN shuts petrol stations
Oil & Gas

Anambra govt allays fears over petrol scarcity as IPMAN shuts petrol stations

Anambra State government has assured residents of the state of adequate supply of petroleum products, saying oil marketers and dealers in the state were not on strike.  Commissioner for Petroleum and Mineral Resources, Anthony Ifeanya gave the assurance on Wednesday following closure of petrol stations in the state by the Independent Petroleum Association of Nigeria

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Demolition: Tension as IPMAN shuts petrol stations in Anambra
Oil & Gas

Demolition: Tension as IPMAN shuts petrol stations in Anambra

There was tension Wednesday in major towns in Anambra State following closure of petrol stations in the state by the Independent Petroleum Association of Nigeria (IPMAN). The development led to sharp increase in transport fare by motorists as most residents resorted to trekking long distances to their destinations. Reacting, Chairman of IPMAN, Enugu depot covering

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NUPENG threatens shutdown in Lagos over harassment
Oil & Gas

NUPENG threatens shutdown in Lagos over harassment

…says youths intimidating and extorting money from petroleum truck drivers, who are NUPENG/PTD members plying the road The Nigeria Union of Petroleum and Natural Gas, NUPENG, workers in Lagos State have written to the state governor, Mr Babajide Sanwo-Olu, to check the activities of persons it described as unscrupulous elements harassing its members. The letter,

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Gas: More trouble for Nigerians over imminent hike in price
Oil & Gas

Gas: More trouble for Nigerians over imminent hike in price

‘Gas consumers stood the risk of further price hike as long as dollar continued to strengthen’ Nigerians may face more trouble as there are strong indications that gas prices will further rise as marketers have hinted that the high exchange rate of dollar to naira is having a negative impact on importation. National Operations Controller,

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IPMAN protests illegal levies in Portharcourt
Oil & Gas

IPMAN protests illegal levies in Portharcourt

Members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) on Saturday took to the streets over what they called illegal collection of levies by the Petroleum Tanker Drivers (PTD) of the National Union of Petroleum and Natural Gas Workers (NUPENG). IPMAN members during the protest on Saturday in Portharcourt, Rivers State capital, moved to

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Group urges FG to grant oil pipeline protection contracts to Southeast youths
Business Oil & Gas

Group urges FG to grant oil pipeline protection contracts to Southeast youths

A pressure group, Movement for Just Utilization of Resources in the South East (M-JURSE), has urged the Federal Government to grant oil pipeline protection contracts to youths of host communities. National Coordinator, Mr Stanley Okafor in a statement, said the move would stem the tide of vandalization and oil theft in the region. He said

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Importation of Petrol will end by 2023, says NNPC boss
Business Oil & Gas

Importation of Petrol will end by 2023, says NNPC boss

The Nigerian National Petroleum Company Limited has said that the country would stop importing petroleum products by 2023. The Group Chief Executive Officer of the NNPC, Mele Kyari disclosed this during a press briefing at the state house in Abuja, on Tuesday. Speaking during the weekly Ministerial Briefing, hosted by the Presidential Communication Team at

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