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Premium Motor Spirit, otherwise called petrol, now sells for between N200 and N220 per liter at the independent marketers’ service stations in Nsukka, Enugu State. The News Agency of Nigeria is reporting the hike in the price…
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The Petroleum Products Pricing Regulatory Agency (PPPRA) says a total of 85,264.803 Metric Tonnes (MT) of Liquified Petroleum Gas (LPG), also known as cooking gas, was supplied nationwide in the month of August. The Agency…
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"Crude inventories fell by 6.4 million barrels in the week to September 10 to 417.4 million barrels, the EIA said, compared with expectations in a Reuters poll for a 3.5 million-barrel drop" By Teddy Nwanunobi Oil prices slipped…
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By Teddy Nwanunobi The resolution of the corporate crisis that has engulfed London-listed oil firm, Lekoil (Cayman) Limited, may take longer than anticipated as Lekoil Nigeria begins legal action to address concerns on various…
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“This year, our revenue budget was N3.2 trillion. By the end of August 2021, we have generated up to 70 per cent" By Teddy Nwanunobi The Department of Petroleum Resources (DPR) has set a revenue generation target of N3.2 trillion…
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By Teddy Nwanunobi Contrary to 1.38 million barrels per day (mbpd) that Nigeria pumped in the month of July, the oil-rich West African nation pumped 0.11mbpd lower in the month of August. The latest Monthly Oil Market Report…
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"...strike action had been called off with immediate effect" Independent Petroleum Marketers and Dealers Association and Petroleum Tanker Drivers Association in Imo State on Wednesday’s afternoon called off their strike action after…
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"Downside risks include a new COVID-19 wave, taper tantrum, a China debt crisis, and the return of Iranian crude barrels" Oil prices could hit $100 per barrel over the next six months if we have a colder-than-usual winter, which…
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By Teddy Nwanunobi For the first time in history, the duo of the Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), HE Mohammad Barkindo, and the Minister of Economy and Petroleum of Venezuela, HE Tareck…
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“NNPC share of loss in OKLNG was not recognised since the accumulated share of loss is higher than the initial investment” Olokola Liquefied Natural Gas (OK LNG) project and West African Gas Pipeline (WAGP), capable of making…
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