The Federal government has rubbished reports on social media suggesting that the Ministry of Petroleum has ordered NNPCL to sell fuel at N1000, above the approved pump price.A report, intending to mislead the public and cause panic, which is devoid of truth, circulating in the media had maliciously claimed that the minister of Petroleum, Hon….
Owner of Lagos-based refinery Aliko Dangote, on Tuesday, spoke on the pricing of petrol produced at his 650,000 barrels per day facility.The refinery owner said as soon as his company finalises modalities with the Nigerian National Petroleum Company Limited (NNPCL), the product will hit the market. “Our PMS (Premium Motor Spirit) can be in filling…
Oando Plc has warned individuals and entities against spreading false information about the Nigerian Agip Oil Company (NAOC) transaction. In a statement on Monday signed by Ayotola Jagun, the company’s secretary, Oando said it will sue those that do not desist from spreading inaccurate information. On August 22, Oando said it completed the acquisition of Eni’s 100 percent shareholding in the…
The Dangote refinery in Nigeria, Africa’s biggest and newest crude processing facility, is set to soon begin production of gasoline, potentially upending global gasoline flows. For years, Nigeria has been importing the gasoline it consumes, but the newly operational refinery is poised to turn OPEC’s largest African crude oil producer from a gasoline importer to…
The lingering fuel crisis in the country may last longer as the nation’s oil company, the Nigeria National Petroleum Company Limited (NNPCL) has admitted to owing petrol suppliers to the tune of about $6 billion. Nigerians have not had it so good this year as fuel queues have dotted filling stations across the country, with…
The announcement of the Nigerian National Petroleum Corporation Limited (NNPCL) on being unable to sustain fuel supply is a game plan, according to experts. On…On Sunday, Chief Corporate Communications Officer of the NNPCL, Olufemi Soneye, admitted that the national oil company is owing suppliers, but did not specify the exact amount.“NNPC Ltd has acknowledged recent…
Raising the windfall tax on the UK’s oil and gas companies will hit the government’s main goal of growing the economy, the industry has warned. Offshore Energies UK (OEUK) said the planned hike would cause investment in the sector to plunge and result in a loss of £13bn to the UK economy from 2025 to…
The Nigerian National Petroleum Company Limited has stated plans to engage reputable operations and maintenance companies for the Warri Refining and Petrochemical Company and the Kaduna Refining and Petrochemical Company. The NNPC, in a notice on its website, said this was to ensure reliability and sustainability to meet the nation’s fuel supply and energy security…
So much of Nigeria’s resources have been wasted under elaborate maintenance that leaves the refineries poorer than they were and their managers richer than they should have been. Originally scheduled for completion in 2019, the refurbishment and upgrade of the Port Harcourt Refinery, located in Nigeria’s oil-rich Niger Delta region, have remained at the promised…
