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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Ekiti Fuel Marketers Dare NNPC, Adjust Metres above N145 per litre

As against several appeals to Nigerians that the federal government has no plans to increase pump price of petroleum motor spirit (PMS) in the country, many independent fuel marketers in Ekiti state from Wednesday adjusted their pump to prices ranging between N150 per litre to N165 per litre, above the supposed official maximum price of N145 per litre. Motoring World’s ...

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Dangote Plans to Crash Fuel pump Prices in Nigeria

Dangote Refinery currently under construction would save Nigeria $12 billion annual import substitution, create 4,000 direct jobs and crash prices of petroleum products. Mr Babajide Soyode, the Technical Consultant to Alhaji Aliko Dangote, said the project would add value to the economy as it would also create 145,000 indirect jobs. He said that the refinery would lower the prices of ...

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Crude Oil Prices Shoots above $65

Brent crude oil prices jumped above $65 per barrel after the shutdown of the Forties North Sea pipeline knocked out significant supplies from a market that was already tightening due to OPEC-led production cuts. Brent crude futures on Tuesday, the international benchmark for prices of crude, were at $65.07 dollars a barrel at 0211 GMT. U.S. West Texas Intermediate (WTI) ...

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Nigerian Government Orders NNPC to Clear Fuel Queues by Weekend

…As Ekiti Filling Stations Remain Under Lock and Key The Nigerian National Petroleum Corporation (NNPC) has been ordered to clear fuel queues in Lagos and Abuja not later than Saturday. The nation’s Minister of Information, Lai Mohammed, who disclosed this to State House Correspondents after the FEC meeting presided over by Vice President Yemi Osinbajo at the Presidential Villa Wednesday, ...

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