Downstream

THE National Bureau of Statistics, NBS report, released yesterday, showed that the average price paid by consumers for premium motor spirit (petrol) decreased by -15.1% year-on-year and -1.1per cent month-on-month to N145.80 in December…
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The Petroleum Equalisation Fund says its Sensor Monitoring Project will help to track the quantity of Premium Motor Spirit, also known as fuel, consumed in the country. The PEF Executive Secretary, Alhaji Ahmed Bobboi, disclosed this…
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The Petroleum Products Pricing Regulatory Agency (PPPRA) has disclosed that between 2016 and 2018, a period of three years, Nigerians consumed an average of 51 million litres of petrol every day. It explained that the consumption figure…
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There are fresh indications that the Federal Government may have concluded plans to increase the pump price of Premium Motor Spirit (PMS), popularly called petrol, from N145 per litre to between N185 and N200 per litre shortly after the…
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The best time for the Federal Government to totally stop subsidy on petrol and completely deregulate the downstream sector is now when global crude oil prices are still trading low, economy and energy experts have said. Brent crude, the…
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A massive hike of 240 per cent in the prices of petrol and diesel goes into effect today in Zimbabwe. Petrol was selling for 1.32 dollars (N481) per litre before Sunday’s hike. Now, it will be sold at $3.31 per litre. However, its…
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The Department of Petroleum Resources on Thursday declared that it had given a grace period of three months for all illegal filling stations and gas plants to regularise their facilities or face the full wrath of the law. It disclosed…
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The Nigerian Ports Authority (NPA) says it is expecting 38 ships to bring in petroleum products, food and other goods at Apapa and Tin Can Island Ports, from Jan. 10 to Jan. 22. Agency reports have it that three of the 38 ships will…
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The Nigerian National Petroleum Corporation (NNPC) is set to implement effective commercial framework that would halt the export of propane and butane, which are major components in the production of Liquefied Petroleum Gas (LPG), also…
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THE oil price rebound, yesterday, reached a significant point, selling at $60 per barrel, as the Organisation of Petroleum Exporting Countries, OPEC, continue to withdraw excess oil from the international market. Prices of Brent, West…
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