Energy

Gloomy months ahead for Nigeria, Others…As OPEC Forecasts Lower Oil Demand

Gloomy months lie ahead of Nigeria and other crude oil exporters as OPEC on Monday forecast lower demand for crude next year. The forecast came as rival producers, such as the United States pump more and top oil exporter Saudi Arabia, eager to avoid a return of oversupply, had cut production. The higher prices that have followed the OPEC-led deal ...

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Nigeria Imports 6.149b billion Litres of Petroleum Products in Q1

Nigeria imported 6.149 billion liters of refined petroleum products in first quarter of 2018, according to the latest report by the National Bureau of Statistics (NBS). As contained in a report on NBS website, published by Shipping Position on Wednesday,  5.67 billion litres of Premium Motor Spirit (PMS), also called petrol was imported into the country within the period under ...

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4501 Loaded Petrol Tankers Vanish In December

…As NNPC Insists that Fuel Price Remains at N145 per Litre The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru said 4501 petrol trucks were simply untraceable, vanishing from the Nigerian radar, during the biting fuel supply crisis. “Due to massive diversion, hoarding, panic buying and smuggling, coupled with the information that three Direct Sales Direct ...

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Petrol Scarcity: Buhari summons Kachikwu, Baru, DSS, Others

Presidency on Tuesday in Abuja summoned critical stakeholders in the nation’s oil sector and the leadership of security agencies in the country over the fuel scarcity crisis, which lingered through Christmas celebration in Nigeria. The News Agency of Nigeria (NAN) reported that the meeting, presided by the Chief of Staff to the President, Alhaji Abba Kyari, was held behind closed ...

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DPR suspends Six Fuel Marketers Over Diversion

The Department of Petroleum Resources (DPR), Eket field, says it has suspended six marketers in Akwa Ibom for diverting petroleum products The DRP Operations Controller in Akwa Ibom, Mr Tamunoiminabo Sundaye, disclosed this to the News Agency of Nigeria (NAN) in Eket on Sunday. Sundaye said that the marketers lifted 180,000 litres of petrol from NNPC Calabar depot to an ...

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Fuel scarcity in Nigeria: Obiano Hails Stanel Group’s Steadfastness

Governor Willie Obiano of Anambra State has commended the Chairman of Stanel Group, Mr Stanley Uzochukwu, for fuel availability, accurate metre and for maintaining official pump price of N145/litre in Awka while other stations either have no product or selling above N185/litre in the wake of fuel scarcity in the country. Stanel World, Akwa is witnessing unprecedented crowd and queue ...

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Nigerian National Petroleum Corporation Uncovers 144 Trucks of Hoarded Petrol

Security agents and Nigerian National Petroleum Corporation (NNPC) monitoring team have discovered 144 trucks of petrol not streamed by some marketers in Kano. The NNPC Group General Manager, Public Affairs Division, Ndu Ughamadu, made this known in a statement in Abuja on Friday. Ughamadu stated that the team was set up to rapidly end petroleum products supply gaps in parts ...

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