Breaking: FG makes u-turn, jerks up fuel price
The federal government has just announced an increase in the petroleum product price from the current N123.5k to between N140.80 and N143.80 per litre. Details loading…
PETROLEUM
Oil firms deliberately destroying Niger Delta environment – Bayelsa gov
Bayelsa state Governor, Senator Douye Diri, has lamented what he described as the deliberate despoliation of the Niger Delta environment by oil companies operating in the region. Governor Diri who expressed displeasure over the decade-long environmental injustice in the region, said the situation was worsened by the unfair derivation sharing formula of the federal government to the oil producing states, Read More
FG announces new petrol price
The Petroleum Products Pricing Regulatory Agency (PPPRA) has reduced the pump price of petrol to N121.50 per litre. The agency in a memo to petrol marketers dated 31st of May, 2020, created a price band of N121.50 to N123.50 for the price of the product at filling stations. The memo reads: “After a review of prevailing market fundamentals in the Read More
Breaking: Former NNPC GMD Baru confirmed dead
The Nigerian National Petroleum Corporation (NNPC) has announced the demise of its former Group Managing Director (GMD), Dr. Maikanti Kacalla Baru. Dr. Baru, a consummate Mechanical Engineer, died after a brief illness, NNPC Group General Manager, Group Public Affairs, Dr. Kennie Obateru revealed in a release Saturday morning. The release said NNPC Group Managing Director, Mallam Mele Kyari, expressed shock Read More
Breaking: NNPC slashes ‘petrol price’
The Nigerian National Petroleum Corporation (NNPC) has announced a reduction in the ex-depot price of petrol from N113.28k per litre to N108.00K per litre across all its products loading facilities. With the new price regime, it’s expected that pump price will be reviewed downward. A release Wednesday, in Abuja by Group General Manager, Group Public Affairs Division NNPC, Dr. Kennie Read More
Breaking: Russia aligns as OPEC takes final decision on oil output cut
Another meeting of Organisation of Petroleum Exporting Countries (OPEC) on oil output cut has just ended on Easter Sunday, 72 hours after an earlier online gathering took place. We will bring full details of the outcome of the meeting. However, here is the full remarks by OPEC Secretary General Brief high-level remarks by OPEC Secretary General, HE Mohammad Sanusi Barkindo, Read More
COVID-19: Like Ghana, give Nigerians 2 months free electricity – NASS tells Buhari
Leadership of the National Assembly, Wednesday, tasked President Muhammadu Buhari-led federal government of Nigeria to provide free electricity supply to all Nigerians for two months as part of palliative stimulus for cushioning the effects of lockdown being applied against the spread of Coronavirus in the country. It also called for fairness and equity in the distribution of palliatives across the Read More
Fuel scarcity: DPR warns marketers against hoarding
The Department of Petroleum Resources (DPR), Sokoto/ Kebbi states Zonal office Tuesday warned filling stations owners against selling above government approved prices. Speaking with newsmen after visiting some filling stations in the Sokoto metropolis, the Controller, Zonal field operations, Alhaji Mohammed Makera, also warned against hoarding and under dispensing of the commodity. He emphasised that his department would not hesitate Read More
Bayelsa: We’ll enforce compliance of new PMS price- DPR
The residents of Bayelsa state have expressed their dissatisfaction on social media over the failure of filling stations to comply with federal government’s directive to sell Premium Motor Spirit (PMS) at ₦125 per litre. Meanwhile, the Department of Petroleum Resources (DPR), has called for calm, saying it would take a while for dealers to adjust to the new pump price. Read More
Revealed! Outcome of NNPC recruitment exercise as Nigerians search for more employment oppurtunities
As more Nigerians continue in search of more oppurtunites to work, the Nigerian National Petroleum Corporation (NNPC) has ended their recent recruitment exercise. This is even as it announced the recruitment of 1,050 graduate trainees. According to the corporation’s Acting Group General Manager, Group Public Affairs, Mr. Samson Makoji, the Human Resources Division of the NNPC had since commenced the Read More
Seplat Petroluem appoints new non-executive director, as Hochard retires
The Board of Directors, Seplat Petroleum Development Company Plc has announced the retirement of Mr Michael Hochard as a Non Executive Director of the Company. The company said that Mr Hochard in his role as the Chief Executive officer of Maurel & Prom (“M&P”) was appointed to the Board of SEPLAT in 2009 as a nominee of M&P and served Read More
Breaking: Court orders arrest of ex-Petroleum Minister over Malabu oil scam
Abuja High Court has ordered the arrest of a former Minister of Petroleum, Dauzia Loyal Etete, in connection with his alleged Malabu Oil scam. Details loading…
As PMB rekindles hope for Ajaokuta-Kaduna-Kano gas pipeline…
It is on record that since coming on board, the President Muhammadu Buhari administration has consciously, consistently and continuously prioritise the unlocking and harnessing of the potential of the country’s resources including gas resources to increase domestic and industrial power supply, raise living standards of Nigerians and furthermore support sustainable economic growth and diversification of the Nigerian economy. President Muhammadu Read More
DPR to grant NDPR licence to operate 1000bpd modular refinery
The Department of Petroleum Resources (DPR), said plans are ongoing to grant Niger Delta Petroleum Resources Ltd. (NDPR) licence to operate its 1000 barrel per day Modular refinery that will be inaugurated soon. NDPR is a subsidiary of Niger Delta Exploration & Production Plc. (NDEP). This was made known in a statement issued by the Director/Chief Executive Officer (CEO) of Read More
Breaking: Finally, Jonathan’s ex-Minister Deziani Allison-Madueke forfeits jewelries worth $40m
A final forfeiture order has been granted by the Federal High Court sitting in Lagos to the federal government on the $40m worth of jewelries seized from the premises of the former minister of Petroleum Resources, Diezani Allison-Madueke. Justice Nicholas Oweibo ruled that the former Minister had failed to show cause why the jewelries should not be forfeited to the Read More
Elections: Rights activist demands petrol price palliatives, slams IPMAN factional leader
An Abuja-based legal luminary and rights activist, Dr Kayode Ajulo, has called on the federal government to look at the option of introducing palliatives that can help mitigate the cost of living of vulnerable segments of the society in the country. Ajulo made the appeal when he spoke selected journalists at his Minister Hills office in Abujo. He said the Read More
Petrol to sell for N140 before rescheduled elections
Reports say the Independent Petroleum Marketers Association of Nigeria (IPMAN) has directed its members nationwide to reduce petroleum pump price from N145 per litre to N140. National President of the association, Chinedu Okworonkwo, who disclosed this in a statement signed by the chairman of the association, Bashir Dan-Malam, said the price slash would be effective between February 20 and February Read More
DPR to Nigerians: Don’t panic, we ‘ve enough fuel at yuletide
As Nigerians celebrate Christmas on Tuesday, December 25, 2018, the Department of Petroleum Resources (DPR) has assured motorists and others that there is adequate supply of petroleum products across the country during the yuletide season. The DPR Zonal Operation Controller, Kaduna Zone, Malam Isa Tafida told energy correspondents in Kaduna that there is over 25 million liters of PMS in Read More
JVC: Nigeria owing oil companies $5.1bn – NNPC
Facts emerged on Thursday that Nigeria is currently owing International Oil Companies $5.1 billion in the Joint Venture Cash Call business arrangement. Also, the Nigerian National Petroleum Corporation (NNPC) denied any form of mismanagement or stealing from the $3.2billion allegedly withdrawn from the Nigeria Liquefied Natural Gas (NLNG) account from 2015 till date. The $5.1billion debt incurred by Nigeria in Read More
FG, oil marketers reach truce, as subsidy claims hit N1trn
The Senate has urged the federal government to, as a matter of utmost urgency, direct all concerned agencies to immediately pay arrears of fuel subsidy owed oil marketers, which now stands at N1trillion from the initial N429billion. It also urged the federal government to engage marketers immediately and agree on all outstanding liabilities to put an end to all subsidy claims. The Read More
Extradition: ‘Why Diezani may not return for trial soon’
There are indications that the federal government may not get the required cooperation from the governments of United Kingdom, United States of America, Canada and others, where alleged looters of the nation’s wealth are currently taking refuge, Blueprint can authoritatively reveal. This is coming on the heel of moves by the Acting Chairman, Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, Read More
Osisioma pipeline explosion: death toll hits 200, as youths protest
The death toll from last Friday Osisioma fuel pipeline explosion has risen to 200, even as protesting youths from the host communities of Nigerian National Petroleum Corporation, NNPC, depot, yesterday, shut operation at the facility over the incident. The youths, numbering 2,000, who barricaded the gate of the depot with a coffin containing the corpse of one of the victims, Read More
Saudi Arabia targets $600b Sovereign Wealth Fund
Saudi Arabia’s Crown Prince Mohammed bin Salman said the kingdom’s main sovereign wealth fund (PIF) will surpass its target of increasing its financial clout to $600 billion by 2020, as part of the efforts to wean economy off oil. “We are now above $300 billion, we’re getting close to $400 billion. Our target in 2020 is around $600 billion. I Read More
NNPC records 17.16bn trading surplus in April 2018
The Nigerian National Petroleum Corporation (NNPC) has consolidated on its operational performance with a trading surplus of 17.16 billion in the month of April, 2018. This represents a 5.43 billion improvement representing 46.29 per cent on the trading surplus recorded in the previous month. NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, who disclosed this in a Read More
Buhari yet to receive petroleum industry bill – Presidency
The Presidency said on Wednesday that President Muhammadu Buhari is yet to receive the harmonised Petroleum Industry Governance Bill (PIGB) by the two chambers of the National Assembly on March 28, 2018. Senior Special Assistant to the President on National Assembly Matters (Senate), Senator Ita Enang, said his findings revealed that the bill is still undergoing standard operating legislative processes of the National Read More