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Depot and Petroleum Products Marketers Association of Nigeria, DAPPMAN, has disclosed many oil marketers are closing shop as they are not making a profit due to the high cost of PMS sold to them by the NNPC. …
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Private depot owners are lamenting Nigerian National Petroleum Corporation’s (NNPC’s) decision   to sell Premium Motor Spirit (PMS) to them at N117 per litre, admitting that the price is not only outrageous, but not cost effective. The…
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The Managing Director and Chief Executive Officer, Financial Derivatives Company Limited, Mr Bismarck Rewane, has said fuel subsidies are a huge drain on government’s revenue. Rewane stated this in his presentation at the Lagos Business…
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…Corporation says marketers not importing are seeking higher margin The Nigeria National Petroleum Corporation (NNPC) has allegedly driven oil marketers out of the business of importation of Automotive Gas Oil (AGO) or diesel by making…
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Oil production from fields in Nigeria in 2018 were 70,166,496 (70 million) barrels more than what were produced in 2017, a report by the Nigerian National Petroleum Corporation (NNPC) has disclosed. The document titled: “NNPC Monthly…
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The Economic and Financial Crimes Commission, EFCC, says it has taken delivery of eight suspected oil thieves, including Cameroonians allegedly caught while bunkering illegally refined PMS, from the Nigerian Navy Ship, NNS Victory. NNS…
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Nigeria may save more than $5 billion annually if the country deregulates its downstream petroleum sector, the immediate past president of the Nigerian Association of Energy Economists (NAEE), Prof. Wumi Iledare, has disclosed. Speaking…
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The dismal performance of the country’s three refineries, Warri, Port Harcourt and Kaduna refineries, continued, as the refineries posted operating deficit of N8.36 billion in January 2019, according to data released by the Nigerian…
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Chief Martin Onovo, a petroleum sector technocrat and versatile politician, has taken a look at the recommendation of the International Monetary Fund (IMF) for Nigeria to remove of fuel subsidy, and stated that the organisation’s counsel…
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There are speculations making the rounds that the Nigerian government may have reached an advanced level in plans towards 100 percent removal of subsidy it puts on refined petroleum products consumed by its citizens. This expensive and…
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