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House Seeks to Establish More Petrol Depots

Paul Effiong, Abuja In order to address the incessant scarcity of fuel, the House of Representatives is seeking to establish more depots in the country. Moving the motion at yesterday’s plenary, Uju Kingsley observed that there are insufficient depots to

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Marketers Mull New Pump Price

Price no longer feasible at N165 – IPMAN As Lagos, Abuja worse hit Cyril Ogar, Teddy Nwanunobi and Rotimi Asher, Lagos Nigerians are now paying more for petrol despite the official price still fixed at N162.50 and N165 per litre.

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Dirty Fuel: Reps Rule Out Sanctions for NNPC, Importers

Lateef Bamgbose House of Representatives said nobody would be sanctioned for the supply of adulterated Premium Motor Spirit, PMS, otherwise known as petrol, which caused a major crisis in the fuel chain with many car engines damaged by the dirty

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OPEC Maintains Cautious Strategy Despite Ukraine War

Teddy Nwanunobi Despite the ongoing war in Ukraine, the Organization of Petroleum Exporting Countries alliance, OPEC+, yesterday, is turning on the oil tap only moderately by sticking to the production increase of the past months. Rising from an online ministerial meeting,

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NNPC Resolves Low-Spec Fuel, Unexpected Queues

Ibrahim Lawal The Nigeria National Petroleum Corporation (NNPC) Ltd has taken quick and bold steps in addressing the problem of low-spec petroleum and unexpected queues which was quickly withdrawn by its affiliates. This followed a special directive from the CEO/

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Theft, Vandalism: Nigeria Loses Fuel Worth N33.6billion In 24 Months

Gloria Ajibike As Nigeria’s oil and gas industry continues to grapple with the menace of oil theft and pipeline vandalism, the country has in the last 24 months, lost crude oil valued at an estimated N33.6billion. Industry data revealed that

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Diesel Price Rises Further By 18.5% To N343/Litre

As  LPG demand surges over NLNG’s 100% domestic supply Cyril Ogar It is obvious that the  average retail price of Automotive Gas Oil ,Diesel, is on steady rise reaching N343 per litre as at Wednesday, representing 18.5% rise when compared

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China’s Oil Sale Is A Clear Message To OPEC+

China made headlines last week with the news that it was going to release some crude oil from its strategic petroleum reserve and sell it in a move that Bloomberg called “an unprecedented intervention.” Indeed, this was the first time

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Oil, Gas GDP Declines By N3.25trn In Two Years

Yahaya Umar The contribution of crude petroleum and natural gas sector, which is a sub-sector under the mining and quarrying sector, to Nigeria’s Gross Domestic Product dropped from N13.45tn in 2018 to N10.2tn in 2020, signifying a N3.25tn or 24.16

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Anambra, Kogi Join Oil Producing States, Await 13% Derivation Fund

Dickson Pat Anambra and Kogi States may have finally joined the league of Oil Producing States in Nigeria as their oil wells have been recognised by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC). The development is sequel to a

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