Energy

NNPC Gets $2b Discount on Re-Negotiated Contract

The Nigerian National Petroleum Corporation (NNPC) has secured $2 billion discount from re-negotiated upstream contracts being executed by its various service providers in the last one year. The Group Managing Director of the corporation, Dr Maikanti Baru, made this known in a message to mark one year of his headship of the organisation. In a statement by Mr Ndu Ughamadu, ...

Read More »

Fuel Scarcity Paralyses Burundi

Fuel shortages have paralysed the small central African nation of Burundi, threatening further damage to an economy already moribund after years of political violence and raising questions about the role of the country’s only oil importer. The problem has damaged two big foreign investors, Kenya’s KenolKobil and South Africa’s Engen, a subsidiary of Malaysian parastatal Petronas. The shortages, which forced ...

Read More »

Major Disaster Averted On Lagos-Ibadan Expressway

What could have turned out to a major disaster in Magboro, Ogun State along Lagos-Ibadan Expressway was on Thursday averted by the Lagos State Emergency Management Agency (LASEMA) with salvaging of a 50,000 litres of truck conveying Premium Motor Spirit otherwise known as petrol from catching fire. The incident occurred during early morning rain when a truck with registration number ...

Read More »

29 Ships with Petrol Expected

Twenty-nine ships, laden with petroleum products, food items and other goods, are expected to arrive Apapa and Tin-Can Island ports in Lagos from May 22 to June 3. According to “Shipping Position’’’, a publication of the Nigerian Ports Authority (NPA), the ships contained general cargo, empty containers, petrol and containers laden with goods. It said that 15 others were at ...

Read More »

12 Ships Discharging Petrol, Others – NPA

Seventeen ships are discharging petroleum products and other commodities at Apapa and Tin-Can Island ports in Lagos, the Nigerian Ports Authority (NPA), said on Friday. NPA explained that they were discharging petrol, general cargo, containers and diesel. The News Agency of Nigeria (NAN) reports that 29 others laden with petroleum products and other goods are expected to arrive in Lagos ...

Read More »

Oando Seeks Approval to Refurbish Nigerian Refineries

Mr. Wale Tinubu, the Managing Director, Oando Plc on Thursday said that the company would seek approval from the Federal Government for the refurbishment of one or two refineries. The Company’s facts behind the figures at the Nigerian Stock Exchange (NSE) in Lagos, show that refurbishment of the refineries would enable the country to end fuel importation. Tinubu stated that ...

Read More »

Nigeria to Stop Petrol Import 2019, NNPC Reaffirms

The 2019 target set by the Nigerian National Petroleum Corporation to exit importation of Premium Motor Spirit (PMS) will be a reality, Group Managing Director, Dr. Maikanti Kacalla Baru, has said. Dr. Baru gave the assurance while fielding questions from journalists on the sidelines of the ongoing Offshore Technology Conference (OTC) in Houston, United States, on Monday. The GMD, who was ...

Read More »

Nembe Creek Trunk Line Shut, 232k Barrels Trapped

Nigeria stands to experience a shortfall in its oil exports earning as Shell Plc said it had shut down the Nembe Creek Trunk Line, which exports Bonny Light crude oil. The company said it shut the trunk line to remove theft points. The managing director of Shell Petroleum Development Company (SPDC) said the company was working to “remove a significant ...

Read More »

Petroleum Marketers Shelve Strike, Resolves to Support FG

The Independent Petroleum Marketers Association of Nigeria, IPMAN, on Monday announced the suspension of a scheduled nationwide strike after meeting with the Group Managing Director of the Nigerian National Petroleum Corporation, NNPC. IPMAN said this in Abuja in a statement released by Mr Ndu Ughamadu, NNPC Group General Manager, Public Affairs Division.‎ ‎According to the statement, ‎Chairman of the IPMAN Committee ...

Read More »

Nigerian Senate to Investigate $17 Bln Subsidies Received By Oil Firms

Nigeria’s upper house of parliament will investigate allegations the state oil company illegally inflated funds it collected from an official subsidy scheme to 5.1 trillion naira ($17 billion) between 2006 and 2015, lawmakers said on Wednesday. The Senate’s decision to launch an investigation followed an emergency motion raised by Senator Dino Melaye, who told the Senate there were possible irregularities ...

Read More »

Search here

error: Content is protected !!