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A total of 150.4 million barrels of crude oil valued at N3.04tn was swapped for refined petroleum products by the Nigerian National Petroleum Corporation between September 2018 and September 2019, latest figures from the oil firm showed. …
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The Nigerian Senate has called for a total overhaul and rehabilitation of the refineries operated by the Nigeria National Petroleum Corporation (NNPC). The red chamber made the call after Senator Yusuf Yusuf, who cited orders 42 and 52,…
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The reliance on bank borrowings to finance its operations continued to have a negative impact on the fortunes of Total Nigeria Plc as it has recorded a decline of 69 per cent in its bottom-line for the year ended December 31, 2019. …
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Nigeria has the lowest penetration of liquefied petroleum gas, popularly called cooking gas, despite being rich in gas resources, the Federal Government has said. The Minister of State for Petroleum Resources, Timipre Sylva, who said…
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OPEC is in discussions to bring forward its scheduled March 5-6 meeting as the oil market continues to be buffeted by the impacts of the coronavirus outbreak. Algerian energy minister Mohamed Arkab said Wednesday a decision would be…
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The Nigerian Content Development and Monitoring Board (NCDMB) announced on Wednesday that it has partnered Rungas Prime Industries Limited in the establishment of a 400,000 per annum Type 3 LPG Composite Cylinder Manufacturing Plant in…
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A Nigerian court on Thursday issued an arrest warrant for former oil minister Dan Etete and two others in relation to an oilfield that is the subject of corruption cases in Italy and Nigeria, the government’s anti-fraud unit told Reuters. …
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The Senate on Thursday directed its Committee on Petroleum Resources (Downstream) to investigate the expenditure of over $25 billion on the turn around maintenance of the nation’s four refineries in the last 25 years. The move by the…
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There are indications that the nation’s security architecture may witness significant focus shift this Thursday, as President Muhammadu Buhari last night summoned a high level meeting with his Service Chiefs for a meeting. The meeting…
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The Economic and Financial Crimes Commission, EFCC on Wednesday, took delivery of MV Gratitude, a bunkering vessel and its crew of six, intercepted on January 9, 2020 by officers of the Nigerian Navy, Forward Operating Base, Yenagoa,…
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