Valuechain - Nigeria's foremost Online Energy News Platform

...As NNPC denies inflating fuel import figures Lagos Chamber of Commerce and Industry, LCCI, has described fuel subsidy which the World Bank said cost Nigeria N731 billion in 2018, as the biggest fiscal burden currently staring the…
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The Independent Petroleum Marketers Association of Nigeria (IPMAN) yesterday raised the alarm over the fear of a looming fuel scarcity. Its National Vice President, Alhaji Abubakar Maigandi, who spoke with The Nation in Abuja,…
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Nigeria is in the process of building the world’s biggest oil refinery. Many locals hope it will contribute to alleviating poverty in the country. Aliko Dangote’s idea is to produce 650,000 barrels of oil a day and refine it in Nigeria to…
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A total export sale of $265.15 million was recorded in December by the Nigerian National Petroleum Corporation (NNPC). The corporation’s 2018 financial report said the revenue is 60.34% lower than the previous month. Crude oil export…
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Petrocam Trading Nigeria Limited has unveiled its intentions about local refining saying that the firm does not have any plans of investing in refinery in Nigeria until there is deregulation. The company’s Admin and Sales Manager, Eyo…
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With only 18 per cent of total gas produced utilised locally, the Federal Government has advocated increase in volume made available for power generation and utilisation in industrial firms, especially as almost half of the domestic volume…
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A World Bank report called the “Nigeria Biannual Economic Update” for 2018, which was released on Monday and obtained by THISDAY yesterday in Abuja disclosed that Nigeria spent N731 billion to subsidise petrol consumption in the year under…
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The Petroleum Technology Association of Nigeria (PETAN) has urged Nigerians in the oil and gas industry to build capacity in order to take full advantage of the growing opportunities in the sector. PETAN, an association of Nigerian…
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Goldman Sachs has adjusted its second quarter (Q2) 2019 Brent oil price forecast upwards by 11.5 per cent from $65/barrel to $72.50/b to reflect stronger assumptions on OPEC output cuts, further tightening of U.S. oil sanctions on…
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...To leap further on Libya, other crises The price of Bonny Light, Nigeria’s premium oil grade has risen from $70 to $71.74 per barrel in the international market, the highest in 2019, as the Organisation of Petroleum Exporting…
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