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Parent company of Nigerian Agip Oil Company, NAOC, has lifted force majeure on Brass terminal, Bonny NLNG and Okpai power plant following restoration of the Ogoda/Brass 24″ oil pipeline at Okparatubo, Nembe Local Government Area,…
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Oil prices climbed over 7% on Thursday after the International Energy Agency (IEA) said three million barrels per day (bpd) of Russian oil and products could be shut in from next month and despite the U.S. Federal Reserve’s decision to…
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The federal government has warned depot owners to desist from selling Premium Motor Spirit (PMS) above the ex-depot price approved by the government or face severe sanctions.Minister of state for Petroleum Resources, Chief Timipre…
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Hope for lower price as PHR depot gets supply Power generation remains low, no payment for unused capacity — NERCAs the Federal Government continues efforts to resolve the energy crisis facing the country, independent marketers…
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In the last one month, Nigerians have been experiencing fuel scarcity because of the importation of the adulterated litres of PMS from Belgium into the country. Though in the last few days, the queues in some of the filling stations in…
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The Federal Government says it will deal decisively and sanction any Depot Owner caught selling petroleum products beyond the approved Ex-Depot price in the country.Chief Timipre Sylva, Minister of State, Petroleum Resources, made…
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The president of the umbrella body that represents the gas industry, Nigeria Gas Association (NGA), Mr. Ed Ubong has said the Petroleum Industry Act (PIA) is the key that can transform the oil and gas sector, describing it as the…
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The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it is in the process of upgrading and deploying the National Production Monitoring System (NPMS) facility towards curbing crude oil theft in Nigeria.Chief…
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The Organisation of Petroleum Exporting Countries (OPEC) has kept its key oil market projections for 2022 unchanged, but it expects to adjust the forecasts in the coming weeks when there is more clarity on the impact of the conflict in…
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President Muhammadu Buhari has expressed sincere regrets for the inconvenience caused to citizens of the country following a prolonged shortage of petroleum products, something that the administration has successfully averted in its…
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