Fuel queues returned to Nigerian cities on Monday as many motorists scrambled to get petroleum products, hours after President Bola Ahmed Tinubu announced his government would stop fuel subsidy regime. During his inauguration, Tinubu declared that there would no longer be a petroleum subsidy regime as it was not sustainable. The President said the current […]
The Nigerian National Petroleum Company Limited says it has about 2.1 billion litres of petrol in stock. It, therefore, advised Nigerians against panic buying as it has an adequate supply for now. The company gave the assurance in a statement by its Chief Corporate Communications Officer, Garba-Deen Muhammad. It stated that the 2.1 billion litres […]
The Nigeria LNG (NLNG) has signed a Memoranda of Understanding (MOU) with three Nigerian teaching hospitals to flag off the second phase of its multi-billion-naira hospital support programme (NLNG-HSP). The NLNG-HSP is NLNG’s national Corporate Social Responsibility initiative, according to Andy Odeh, General Manager, External Relations and Sustainable Development. CSR initiative, Odeh said in a […]
The Independent Marketers Association of Nigeria (IPMAN) says petrol will be available and affordable in the next two weeks. IPMAN National Operations Controller, Mike Osatuyi, gave the assurance when he was featured on Arise TV’s Morning Show in Lagos on Wednesday. Osatuyi said that marketers were putting in place measures to end fuel scarcity across […]
Oil extended gains, on Tuesday, on supply disruptions and as COVID restrictions eased in China, the world’s largest crude importer. Brent crude futures were up 90 cents, or 1.15 per cent, to $78.89 per barrel by 1020 GMT. on the other hand, the U.S. West Texas Intermediate (WTI) crude futures gained 67 cents or 0.92 […]
By Our Correspondent The Independent Petroleum Marketers Association of Nigeria (IPMAN) has attributed import bottlenecks and showering foreign exchange challenges to the current scarcity of petrol. Mr Mike Osatuyi, the Operations Controller of lPMAN, announced this to newsmen in Lagos on Sunday. Osatuyi said this became necessary to inform the general public against the backdrop […]
President Muhammadu Buhari says his administration has attracted over $3 billion in investment in the Oil and Gas Sector. Mr Femi Adesina quoted Buhari as stating this at the inauguration of the Kolmani Integrated Development Project in Bauchi. Such investment, he said, is coming at a time of near-zero appetite for investment in fossil energy. […]
By Our Correspondent Mallam Mele Kyari, the Group Chief Executive Officer of Nigerian National Petroleum Corporation (NNPC) Ltd., has challenged stakeholders to exploit the country’s huge oil and gas resources to boost the economy. Kyari spoke at the ongoing 40th annual international conference and exhibition of the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos […]
Saudi Arabian state oil producer Aramco, on Tuesday, posted a 39 per cent jump in its third-quarter net income that beat analysts’ forecasts, boosted by higher crude oil prices and volumes sold. Aramco’s net income rose to $42.4 billion for the three months to Sept. 30 from $30.4 billion a year earlier, it said in […]
Oil prices rose on Tuesday, paring losses from the previous session, as a weaker U.S. dollar offset widening COVID-19 curbs in China that have stoked fears of slowing fuel demand in the world’s second-largest oil consumer. Brent crude for January delivery rose 73 cents, or 0.8 per cent, to $93.54 a barrel at 0406 GMT […]