News

Italy’s supermajor Eni has announced that it will reduce Capex in 2020 by around €2 billion, equal to 25% of the total Capex planned, and opex by around €400 million. In 2021, Eni expects a Capex reduction of around €2.5-3 billion, equal…
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Only the old hands at the Coffeyville oil refinery could remember anything like the prices posted this month. The small Kansas plant in the heart of rural America was offering just $1.75 a barrel for Wyoming sweet crude. With more than…
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Nigerian National Petroleum Corporation, NNPC pipeline along Ojukwu Street, Navy Town axis of Satellite Town in Lagos is leaking, the News Agency of Nigeria reports. This was confirmed on Thursday by the Director General Lagos State…
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Petrol is a very important and the most used commodity in every economy. Petrol is used by every industry. The prices of petrol varies from place to place but countries with large oil reserves offer cheaper petrol than countries which…
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Amid the coronavirus pandemic affecting Nigeria and all parts of the world, Nigerian house of Representative members just took delivery of the Toyota Camry 2020 version. On a closed door session on February 5, 2020, the Reps had…
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Today, three billion people around the world are confined. "As a result, there may well be a drop in demand this year of around 20 million barrels a day, according to some,” said Fatih Birol, during a conference call. Global oil demand…
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The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) n Thursday said its preliminary findings show that Liquefied Petroleum Gas (LPG) (cooking gas) did not cause the Abule Ado explosions of March 15. It, however, said…
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In a bid to curb the spread of the coronavirus in Kaduna, the state government has announced a 24-hour curfew till further notice. Beginning midnight of Thursday, residents are ordered to stay inside their homes from dusk to dawn,…
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A large overhang of April-loading west African crude was depleting slowly on Wednesday owing to some Chinese spot purchases but refiners continued to eschew light grades with high gasoline and jet fuel yields. Nigerian firms were…
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The Petroleum Product Retail Outlet Owners Association of Nigeria (PETROAN), yesterday demanded compensation from the Federal Government to its members across the country for losing over N10 billion following the slash on fuel pump price…
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