The Nigerian National Petroleum Company Limited (NNPC Ltd) has confirmed that Nigeria’s oil output had dipped below 1.5 million barrels per day (mbpd) following unbridled theft in the petroleum industry. The company’s Group Managing Director (GMD), Malam Mele Kyari, who gave this hint on Tuesday at the 5th National Union of Petrol and Engineering and […]
Delta State Governor, Ifeanyi Okowa, has charged the Nigeria Union of Petroleum and Natural Gas Workers’ (NUPENG’s) leadership to sustain its contributions towards the country’s sustainable economic growth and stability. The governor made the call on Tuesday when he received the new leadership of the union which paid a courtesy visit to Government House, Asaba, […]
The Centre for the Promotion of Private Enterprise (CPPE), a private sector advocacy and economic think tank, has advocated that urgent steps needed to be taken to consummate the reform process with the full activation of the Petroleum Industry Act as well as other measures required to make the country fully optimize the potential in […]
The Federal Government at the weekend has reassured electricity consumers nationwide of its determination to end the lingering power supply crisis with sustained investments. The Minister of Power, Engr. Abubakar Aliyu, gave this assurance while rounding off his trip to Germany, during which he visited the Frankfurt-based Siemens Energy company’s facility. During the visit, the […]
The Federal Government on Monday blamed Nigeria’s inability to explore the revenue opportunities of the current rising crude oil prices in the international market on prolonged years of neglect of the nation’s hydrocarbon resources industry. The Minister of Information and Culture, Alhaji Lai Mohammed, who made this remark at a media briefing in Abuja, lamented […]
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has linked the lingering fuel scarcity nationwide to the inability of marketers to source adequate foreign exchange (forex) required for importation of refined products to meet domestic demand. The PENGASSAN President, Mr. Festus Osifo, explained that oil marketers had been unable to obtain forex […]
Nigeria’s crude oil grade, Bonny Light, on Tuesday traded at $116.1 per barrel at the international oil market. This is even as the Nigerian government has, over the past months, been struggling to meet its OPEC-approved oil quota. The latest OPEC’s Monthly Oil Market Report (MOMR) for March 2022, Nigeria’s crude oil production dropped to […]
Nigeria’s total merchandise trade value rose to N11,707.20 billion in the fourth quarter (Q4) of 2021, representing 11.79 percent higher than the value recorded in Q3, 2021, totalling N10,472.42 billion. Briefing journalists on the key highlights of the merchandise trade in the quarter under review at the ‘Statistics House’ in Abuja, the Statistician General of […]
The Major Oil Marketers Association of Nigeria (MOMAN) on Thursday said that the withdrawn adulterated petrol from circulation some weeks ago had been re-blended for distribution nationwide The MOMAN Executive Secretary, Mr. Clement Isong, who spoke in Lagos, confirmed that the re-blending of the sub-standard petrol was almost completed by the major marketers as directed […]
The Nigerian National Petroleum Company Limited (NNPCL) has expressed interest in the acquisition of the power plants put up for sale by the Federal Government through the Nigeria Integrated Power Plants (NIPPs). The company’s Managing Director, Mallam Mele Kyari, who disclosed this when he led top management team of the entity on a courtesy visit […]