Petroleum products distributors under the aegis of the Association of Distributors and Transporters of Petroleum Products (ADITOP), has opposed the alleged increase of truck loading fees for petrol by the Petroleum Tanker Drivers Association (PTD) as the headwinds in the downstream market remained unabated The National President of the association, Alhaji Lawal Dan-Zaki, in a statement in […]
Ogun State Government has commenced the process of converting fossil-powered vehicles to Compressed Natural Gas (CNG) powered in furtherance of its E-Mobility and Gas Mobility Programme. The programme involves the conversion of mass transit buses from fuel to gas and tricycles and motorcycles to electric. To transform the plan into reality, a team of technical […]
The International Energy Agency (IEA) has charged global leaders on the need to address emissions from gas supplies, in spite of natural gas increasing roles in rapidly growing world’s energy markets. The Executive Director of the global organization, Fatih Birol, gave this charge during the July 18 LNG Producer-Consumer Conference which held in Tokyo, Japan. […]
The Independent Marketers Association of Nigeria (IPMAN) has linked the latest upward review of petrol pump price by oil marketers nationwide to the recent increase in crude oil prices at the international market and other domestic fiscal and monetary policy factors. The association’s National Operations Controller, Mr. Mike Osatuyi, who was quoted as making this […]
The Chief Executive Officer, Seplat Energy Plc, Mr. Roger Brown, has advocated the need for regulatory reforms and other measures in Nigeria’s upstream and midstream segments of the energy sector as a strategic step towards attracting more investments into the hydrocarbon resources industry. Brown, who made this remark at the 2023 Nigeria Oil & Gas […]
The Nigerian National Petroleum Company Limited (NNPCL) has reported the interception of a vessel conveying 800,000 litres of suspected stolen crude oil from the shores of the country The company’s Group General Manager, Corporate Communications Department, Mr. Garba Deen Muhammad, who gave this hint in a statement on Monday, indicated that the vessel and its […]
The Organization of Petroleum Exporting Countries (OPEC) has expressed optimism about oil demand growth prospect next year despite the current market slowdown in the global market. Sources close to the oil cartel hinted that it would likely maintain an upbeat view on oil demand growth for next year when it publishes its first outlook later […]
Latest reports on Liquefied Natural Gas (LNG) export into the global market indicated that Nigeria recorded a huge shortfall in her export volume in 2022 as challenges in domestic natural gas production and feedstock at export facilities undermined the country’s capacity for production of hydrocarbon resources. Specifically, the reports indicated that LNG exports from Nigeria […]
The Centre for Promotion of Private Enterprise (CPPE), has charged the Central Bank of Nigeria (CBN) to adopt proactive measures to moderate the current volatility in the official foreign exchange (FX) market following its June 14 FX unification policy was adopted. Since the policy announcement, high intra-day volatility has characterized the trading sessions at the […]
….says govt could safe N11trn from fuel subsidy removal by 2025 The World Bank Group has said that Nigeria can leverage the new reforms of the President Bola Tinubu-led administration to address her current macroeconomic imbalances. The Washington-based development finance institution made this remark during the launch of the June 2023 edition of the Nigeria […]