Members of the newly inaugurated Body of Neutrals for Upstream Dispute Resolution Centre in Lagos have been charged to use their expertise in resolving conflicts in the oil and gas sector. Preforming the ceremony, the Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, Engr. Gbenga Komolafe expressed optimism that with the calibre…
The Nigerian National Petroleum Company Ltd (NNPCL) has said Dangote Refinery and other domestic refiners are “free to sell directly to any marketer on a willing buyer, willing seller basis”, thereby dismissing the allegation of the national oil company becoming a sole offtaker. The NNPCL was reacting to the Muslim Rights Concern (MURIC’s) claim that…
The Edo State Government has announced an indefinite postponement of resumption of all schools in the state over the hike in fuel price. T!he government announced this in a memo signed by the Permanent Secretary in the Ministry of Education, Ojo Akin-Longe, in Benin on Saturday. The permanent secretary said the resumption, scheduled for September…
The Federal Government on Friday issued a ‘Licence to Construct’ to UTM Offshore Limited for the development of a 2.8 million tonnes per annum Floating Liquefied Natural Gas facility. This historic project, the first of its kind in Nigeria, aligns with the government’s ongoing efforts to boost gas production, distribution, and utilisation under the Decade…
Several commercial transport operators in Ilorin on Thursday stormed some major streets in the metropolis to protest the new hike in petrol pump price. During the protest, they expressed their displeasure with the sudden price hike, with the action leading to untold hardship for thousands of commuters.The protests which commenced on Thursday morning significantly disrupted…
Dangote Group has denied reports that the Nigerian National Petroleum Company Limited, NNPCL, has started lifting fuel from its refinery. It was reported that NNPCL lifted petrol from Dangote Refinery and sold it for N897 per liter to Nigerians. The report comes amid the declaration by the Chairman of Dangote Group, Aliko Dangote, that the…
The Nigerian National Petroleum Company Limited has revealed that September 15, 2024, is the date it would commence lifting Premium Motor Spirit from Dangote Refinery.In a statement by NNPCL spokesperson, Olufemi Soneye, the Executive Vice President of Downstream of the Company, Adedapo Segun disclosed this while speaking on TVC News’ “Journalists’ Hangout” show on Thursday,…
The Organisation of Petroleum Exporting Countries and its allies (OPEC+) on Thursday, September 5, agreed to pause its planned oil output hike for two months after the benchmark Brent crude futures crashed to a 14-month low earlier this week amid fragile demand and plentiful supply, especially after the Libya deal resolution reports. OPEC’s key coalition…
The Coalition of Northern Groups (CNG), has rejected the price increase of Premium Motor Spirit (PMS), aka petrol.The newest price hikes, implemented by the Nigerian National Petroleum Company’s (NNPCL) Retail Management, range from N855 to N897 per litre, depending on the location, from the previous N568-N617.Independent marketers have adjusted their prices to between N930 and…
The Minister of State Petroleum Resources (Oil), Senator Heineken Lokpobiri has charged Oando Energy Resources Nigeria Ltd to hit 100,000 barrels per day mark after the acquisition of the Nigerian assets of the Nigerian Agip Oil Company, NOAC.The $783 million deal which was finally concluded last month made the company as one of the major…
