Downstream

Spot trade slowed to a crawl on Wednesday, as a stand-off between buyers and sellers got intensified. Bonny Light and Qua Iboe for March loading were once again offered near $2.50 a barrel above dated Brent, from about $2.15-2.20, but…
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No fewer than 19 vessels are expected to berth at the Onne port between January 18 and 30, 2019. Out of the 19 vessels, six are laden with 425,000 tons of liquefied natural gas (LNG). The names of the LNG vessels, according to the…
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THE Major Oil Marketers Association of Nigeria (MOMAN) has said it is not thinking or considering resumption of petroleum products importation at the moment because the regulatory environment is not profit driven. It also observed that…
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The downstream sector of the Nigerian oil and gas industry is in desperate need of reform as unresolved challenges continue to dampen private sector players' appetite to invest further. The recent announcement by the Chairman of Forte…
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It is often said that necessity is the mother of invention. The crises that bedevilled the petroleum products supply chain, especially Premium Motor Spirit (PMS), informed the Federal Government’s decision in May 2003 to set up the…
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Stakeholders in Nigeria’s energy ecosystem have said that retaining the current subsidy regime in the country’s petroleum downstream segment is unsustainable as it produces inefficiency in the value chain, thus impeding industry progress. …
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●As ties with lenders hit all-time low Major privately-owned fuel importing, trading and marketing firms in Nigeria have embargoed investment plan in modular refinery. This decision, which, according to checks by New Telegraph, came…
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The Major Oil Marketers Association of Nigeria has said most oil marketing companies in the country are running at a loss, while many have closed shop as a result of the “tough operating environment.” The new Chairman, MOMAN, Mr…
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The Nigerian National Petroleum Corporation says it has blocked leakages in the country’s oil and gas downstream sector valued at $1bn (N307bn at the official exchange rate of N307 to a dollar) per annum. The corporation said the…
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A policy group has revealed in its latest report, In its report released on 15 January, the Global Economic Policy Initiative, GEPin, said Nigeria presently ranks number six in the world only behind Venezuela, Sudan, Iran, Kuwait and…
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