Chief Bode George, a prominent figure in the Peoples Democratic Party (PDP), has called for greater transparency and accountability in the oil and gas sector. He urged the Federal Government to be forthright with Nigerians about the status of fuel…
President Bola Tinubu has revealed that Nigeria spends N2 trillion each month on importing petrol and diesel. In a recent nationwide address, Tinubu explained that despite Nigeria’s vast oil and gas resources, his administration inherited a situation where the country…
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed that the country spends $600 million monthly on fuel importation. He attributed the high import bill to the fact that neighboring countries, reaching as far as Central…
On Monday, it was reported that the Dangote refinery and other local refineries in Nigeria have not yet begun purchasing crude oil from the NNPC in naira, as directed by President Tinubu. The Crude Oil Refiners Association of Nigeria (CORAN)…
Former President Olusegun Obasanjo has suggested that those benefiting from fuel importation are likely to obstruct the Dangote Petroleum Refinery. Obasanjo’s comments follow allegations by Aliko Dangote that certain groups are trying to sabotage his $20 billion refinery project. He…
The House of Representatives has dissolved the ad-hoc Joint Committee on Downstream and Midstream activities, which was investigating the Nigeria National Petroleum Company Ltd. (NNPCL) and the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). Rep. Akin Rotimi, spokesperson for…
By Matthew Denis The Nigerian National Petroleum Company Limited has completed plans to employ more workers. spokesperson, of the cooperation Mr Olufemi Soneye, confirmed this in a statement on Friday. Soneye explained that the recruitment would be for various positions…
Country Chairman and Chief Executive Officer of TotalEnergies EP Nigeria Limited, Mr. Mathieu Bouyer has called on the federal government to ensure good fiscal incentives and healthy competition that will drive operating costs of production down for deep water projects…
The Independent Petroleum Producers Group (IPPG) has issued an urgent call to action for the oil and gas sector to address dwindling production levels and under-investment. The call was made by Abdulrazaq Isa, OFR, Chairman of IPPG in his industry…
THE price of OPEC basket of 13 crudes stood at $93.12 a barrel on Monday, September 11, 2023, compared with $92.84 last Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes, ORB, is made up of the following: Saharan Blend…
