A gloomy picture of unending petrol crisis

Were the ongoing scarcity of the Premium Motor Spirit (PMS) or petrol a mere matter of demand and supply base, it would have been...

Subsidy: FAAC meets today as NNPC deductions threaten states’ allocations

The planned deduction of N242.53bn fuel subsidy from the Federation Account this month by the Nigerian National Petroleum Company Limited is raising uncertainty among...

Brent rises to $115 as EU considers Russia oil ban

Brent crude, the global oil benchmark, appreciated in price on Monday, moving up by 7.3 per cent or $7.88 to $115/barrel at 7.54pm Nigerian...

Queues persist in northern states despite 1.824 billion litres fuel supply

• National oil company denies PMS price review claims The queues by motorists for Premium Motor Spirit, popularly called petrol, particularly in Abuja and northern...

Nigeria fails to meet OPEC’s 1.78mb per day quota

For two consecutive months – January and February – Nigeria failed to meet its quota as allocated by the Organisation of Petroleum Exporting Countries...

55 oil companies owe FG N1.32tn -NEITI report

  …370 oil spill cases recorded in 2020, says agency …’Oil sector revenues dropped by 40% in 2020′ …Pay NLNG dividends to Federation Account, NEITI tells NNPC The...

NNPC to Nigerians: Avoid Panic Buying, We Have 1.7bn Litres Of Petrol In Stock

The Nigerian National Petroleum Company (NNPC) Limited has urged Nigerians to avoid panic buying, adding that it has enough petrol in stock. Mele Kyari, group...

Worsening petrol scarcity cripples cities, businesses

By Nwanosike Onu, Awka; John Ofikhenua, Frank Ikpefan, Abuja; Toba Adedeji, Osogbo; Simon Utebor, Yenagoa; Ernest Nwokolo, Abeokuta; Okungbowa Aiwerie, Asaba; Yinka Adeniran, Ibadan;...

What IOCs must do before diversting from Nigeria, by NNPC

International Oil Companies (IOCs) must address the issues of abandonment of assets and decommissioning of sites before divesting from the country, the Nigerian National...

IPMAN, NUPENG disagree over rise in petrol price

The Independent Petroleum Marketers Association of Nigeria and the Nigeria Union of Petroleum and Natural Gas Workers are at loggerheads over the pump price...

Toxic fuel: lawyer threatens to sue

A lawyer, Olakunle Morohundiya, has threatened to file a suit against the Chief Executive, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) over importation...

Brittania-U kicks as consortium blames it for toxic petrol

Four companies involved in the importation of Premium Motor Spirit (PMS), known as petrol, yesterday said they did not test for methanol. They said the...

Stations run out of petrol, scarcity paralyses states

• Small businesses grounded, labour threatens strike, PDP flays Sylva Many filling stations in Nigeria are still not dispensing Premium Motor Spirit, popularly called petrol, ...

Five petrol-laden vessels from Belgium turned back

Five Nigeria-bound petrol-laden vessels from Belgium were turned back, Nigerian National Petroleum Company (NNPC) Limited said yesterday. The country is still reeling under scarcity of...

Kyari: Cost optimisation key to NNPC’s profitability

Nigerian National Petroleum Company (NNPC) Group Managing Director Malam Mele Kyari has said cost optimisation was very key in driving its profitability. He noted that...

NNPC subsidiary links scarcity to withdrawal of toxic petrol

A subsidiary of Nigeria National Petroleum Company (NNPC) Limited has attributed the scarcity of petrol in parts of the country to the discovery of...

Petrol panic in Lagos, Abuja

The fear of scarcity spread across the metropolis. In Abuja, the queues, which have lingered for some days, continued. In both cities, black marketers flooded major...

No refinery in the world can survive in a subsidy regime – Timipre Sylva

The Minister of state for petroleum, Timipre Sylva has stated why Nigeria needs to move away from fuel subsidy. In program on Nigerian Television Authority...

Nigeria, Angola, others miss OPEC target

Nigeria and Angola rank among the largest under producers of crude oil in January, accounting for the failure of the Organisation of Petroleum Exporting...

Technology can facilitate energy access, transition, says NNPC GMD

Nigeria and other African countries must leverage technology and innovation to facilitate energy access and transition, the Group Managing Director/Chief Executive Officer of the...