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Oil major, Chevron Corp. has confirmed paying $6.25 billion in taxes and shared oil production to Nigeria, Angola, and Equatorial Guinea in 2023, three times more than the company paid …
Chevron confirms $6.25bn tax payment to Nigeria, others Read More
In a typical petrol marketers’ reaction, most of the fuel stations in Lagos Monday shut their gates against motorists, claiming that tankers have run dry. This follows admission by the …
Analysts warn of economic crisis as petroleum products’ shortage continue Read More
The Dangote Petroleum Refinery, one of Nigeria’s most ambitious industrial projects, may experience additional delays in its petrol production schedule. The facility, which has been conducting test runs, was initially …
Dangote refinery faces potential petrol production delay amid testing phase Read More
To start with, before the twin policies of fuel subsidy removal and exchange rates unification by the President Bola Tibunu administration, the official price of petrol (PMS) was about N192, …
Petroleum price normalisation at work Read More
The Niger Delta Development Commission (NDDC) has stated its readiness to partner with the Ministry of Petroleum Resources (Gas) in the implementation of the sustainable development projects and programmes that …
NDDC, petroleum ministry to partner on development, power generation Read More
The exploitative $17 billion refined petroleum products importation by African countries from refiners in Europe is set to end with the coming on stream of Africa’s largest refining facility in …
Dangote ends $17bn annual Africa’s petroleum products import from Europe Read More
A Federal High Court, sitting at Ikoyi, Lagos on Wednesday, February 7, ordered the federal government to fix the prices of goods and petroleum products within seven days. Justice Ambose …
Fix price of goods within 7 days, Court orders FG Read More
Dangote Petroleum Refinery has commenced production of diesel and aviation fuel. President of Dangote Group, Alhaji Aliko Dangote, elatedly thanked President Bola Ahmed Tinubu for his support, encouragement, and …
Dangote ecstatic as Petroleum refinery begins production Read More
A joint budget defence session by the Senate and House of Representatives Committees was brought to an abrupt end as a representative of the two ministers in charge of Petroleum …
Budget defence stalled as lawmakers turn back petroleum ministers’ representative Read More
Both the Independent Petroleum Producers Group (IPPG) and the Oil Producers Trade Section (OPTS) have urged the federal government to pay the $1.3 billion owed to gas producers to encourage …
Petroleum, oil producers want FG to pay $1.3bn debt owed to gas producers Read More
After weeks of speculations on who gets what, President Bola Ahmed Tinubu, Wednesday, announced portfolios for the newly appointed ministers after successful screening and confirmation by the Senate. The list …
Tinubu moves Niger Delta ministry to SGF, becomes petroleum minister Read More
As part of efforts to reduce difficulties encountered by workers due to the removal of fuel subsidy, the Permanent Secretary in the Ministry of Petroleum Resources, Amb. Gabriel Aduda has …
Petroleum ministry unveils two buses to ease staff transportation cost Read More
June 17, 2023, marked exactly 20 days since Senator Bola Ahmed Tinubu took instrument of power from President Muhammadu Buhari as the 16th Head of State and 8th democratically elected …
20-day BAT presidency: Petroleum subsidy withdrawal and matters arising Read More
The Group of Seven (G7) rich nations have agreed to speed up the development of renewable energy while calling for the reduction in natural gas consumption. This is as they …
G7 ministers agree to speed up renewable energy development Read More
Nigeria may have spent well about $15.19 billion (N7 trillion) as a result of flawed downstream deregulation policy as well as the challenges posed by the ongoing Russia, Ukraine conflict. …
Loopholes in deregulation of downstream costs FG $15bn in subsidies Read More
As the Nigerian National Petroleum Company Limited (NNPCL) becomes a totally commercial outfit, the Organisation for the Oil Exporting Countries (OPEC) has acknowledged that Nigeria’s petroleum production was the most …
Kyari’s reform signature at NNPC Read More
The Nigeria National Petroleum Company Limited (NNPCL) has said that Nigeria’s crude oil production output will climb to 1.8 million barrels per day, in line with OPEC production quota. The …
Crude oil production to climb 1.8m barrels per day — Kyari Read More
Media aide to Minister of State Petroleum Resources, Horatius Egua, has apologised to Nigerians and industry operators on a media publication error. Egua had Monday February 20, 2023 released a …
Sylva aide apologises over media publication error Read More
The Benue state government Thursday issued a warning against Petroleum marketers selling fuel above pump price. The state government also resolved that within one week, the Task Force on Petroleum …
Revert to official pump price, Ortom tells petroleum marketers Read More
The Nigerian National Petroleum Corporation Limited (NNPCL) says it has Premium Motor Spirit (PMS) in stock that is sufficient to serve Nigerians for more than 30 days. Executive Vice President …
We have petrol in stock to last for 30 days – NNPC Ltd Read More
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has directed retail outlets to accept the use of Point of Sale (PoS) machines for payment by customers. The regulator warned …
Accept payment through PoS or face sanctions, NMDPRA tells retail outlets Read More
The Citizens United Against Subversion (CUAS), and Coalition for Peace In Nigeria (COPIN) have commended the Department of State Services (DSS) over the ultimatum it handed yo players in the …
Fuel Scarcity: CSOs commend DSS over ultimatum to regulator, marketers Read More
The founder/Chief Executive Officer (CEO), Centre for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, has said since one of the major drivers of inflation is high energy costs, …
Suspend taxes on imported petroleum products, CPPE boss tells FG Read MoreMinister of State for Petroleum Resources Timipre Sylva has said that despite the high cost of diesel and aviation fuel, it would be difficult for the government to intervene as …
FG can’t intervene in high diesel price due to deregulation – Sylva Read More
The National Bureau of Statistics (NBS) says the average retail price paid by consumers for Premium Motor Spirit (Petrol) increased to N173.08 in May. This is according to the NBS …
Petrol retail price soared in May – NBS Read More