New findings have revealed that the market open price of petrol has hit N160 per litre. This is as a result of the landing cost that...
The Petroleum Products Pricing Regulatory Agency (PPPRA), which controls the cost of petrol in the country, is in disarray and this is disrupting the implementation of...
Amidst kerosene scarcity in parts of Nigeria, it has been confirmed that the NNPC had since October 2016 stopped all direct involvements in importing the products...
More than the $6.5 billion, representing about 70 per cent expected income generation by the Nigerian National Petroleum Corporation (NNPC), between 2015 and 2016 has been...
Nigeria will from this year begin to track the volume of its crude oil production from fields of production and loading bays, to sales destinations in...
What to do with Nigeria’s inefficient and under-performing petroleum refineries is still a cause for concern. On Sunday, the Nigerian National Petroleum Corporation (NNPC) said that...
What looks like a serious row is brewing in the downstream oil sector with major oil marketers threatening total withdrawal of supply unless the Nigerian National...
There are strong indications that about five bank chiefs may soon face trial over $153million allegedly withdrawn by the ex- Minister of Petroleum Resources, Mrs. Diezani...
What was expected to bring a long lasting peace to the Niger Delta area seems to have been lost following an announcement on Wednesday by the...
The Nigeria Extractive Industries Transparency Initiative (NEITI) audit report for 2014 has revealed what the average watcher of the Nigerian economy knows, that the Nigeria National...
The three tiers of government comprising federal, states and local government councils shared a grand total of N4.97 trillion as federation revenue approved by the Federal...
Nigerian President, Muhammadu Buhari, is unimpressed by the poor revenue contribution of the Nigerian National Petroleum Corporation (NNPC) to the National treasury, following the quarterly report...
All efforts by some oil firms in Nigeria to lobby the National Assembly for support against a recent allegation that they were covering up debts of...
Senator Dino Melate (APC, Kogi State) has derided the present administration for allowing corruption thrive in the NNPC in spite of its stance against graft. The...
The Federal Goveenment is making plans to construct a 1,000 kilometre pipeline from Niger Republic to the Kaduna Refinery. The pipeline, according to the Group Managing...
The management of Port Harcourt Refining Company (PHRC) has announced its readiness to commence the production of Aviation Turbine Kerosene (ATK) popularly known as aviation fuel....
Unable to meet its financial obligations in the Joint Ventures (JVs) with international oil companies in the country, the Federal Government has pulled out. Minister of...
If the Nigerian government is able to resolve the Niger Delta crisis, the country will enjoy at least $3 billion cash call annually from the National...
Nigerian government has at last bowed to the stringent conditions handed down to it by the International Monetary Fund (IMF) before any financial assistance could be...
The hope of having the price of kerosene come down sooner has been dashed with the insistence by the Nigerian National Petroleum Corporation (NNPC) that it...
Experts have described as a waste of resources government’s proposal to spend about $2 billion for turn around maintenance (TAM) of Nigeria’s three refineries any moment...
Contrary to official claims, the oil sector in Nigeria has suffered its worst fall as the country is said to have recorded a drop of about...
Attacks on oil facilities by Niger Delta militants and activities of oil pipeline vandals cost Nigeria $7billion (about N2.1trillion) from January 2016 till date, the Nigerian...
Barely a week after the ExxonMobil Exploration Company announced it was divesting from one of its major downstream subsidiary, OPL223 and OML Ventures, in Nigeria, the...
The Nigerian National Petroleum Corporation, NNPC, on Tuesday said there is no plan to increase the pump price of petrol. According to the NNPC, the current...
An international oil outfit, Baker Hughes, has noted that Nigeria has consistently shut down its offshore oil rigs from 12 to 8, recording four shutdowns between...
In what looks like a confirmation of speculations over the past weeks, the Nigerian National Petroleum Corporation (NNPC) has admitted that the current market price of...
Despite efforts by the Federal Government to hold dialogue with Niger Delta militants, they have continued to threaten International oil companies in the country. The Greenland...
In a bid to regain its lost impact on the international oil market, Nigeria has opted to slash the official selling price of the country’s crude...
For a nation which economy is already officially in recession due mainly to reduced revenue generation, this is not good news. The Nigerian National Petroleum...
At least $376.5bn was lost as a result of militants’ attacks on gas facilities in Nigeria between June and September 2016. This resulted from a 45 per cent drop in production of the Joint Venture assets and the Nigerian Petroleum Development Company (NNPC) within the period. The NNPC latest monthly...
Non passage of the Petroleum Industry Bill (PIB) has cost Nigeria $250 billion in the last five years, Nigerian Extractive Industries Transparency Initiative (NEITI) said on...
Former President Olusegun Obasanjo has said there was nothing wrong for Nigerian government to sell national assets at a time of recession like the present one...
Noticeable tension has gripped officials of the ministries, NNPC and its subsidiaries following the move by the Nigeria House of Representatives to commence probe into an...
The Minister of Finance, Mrs. Kemi Adeosun, has disclosed that a total sum of N510.2 billion was approved by the Federation Account Allocation Committee (FAAC) for...
Facts have emerged that major and independent marketers in the country are owing the Federal Government about N86.4bn as at July 2016. According to reports, a...
Following signs that peace will soon return to the Niger Delta region, major oil and gas companies in Nigeria with operations in downstream and upstream activities have begun assessment of the actual cost of the crisis on their damaged faculties, according to an investigation. So far, an...
The Federal Government and oil marketers, Wednesday, said there is no truth in rumours making the round over an imminent increase in the pump price of...
The Senate on Monday warned those calling for another increment in pump price of fuel, to desist, as such development is not needed with the present...
The Nigerian National Petroleum Corporation (NNPC) has raised a fresh alarm, drawing attention to activities of militants in the Niger Delta region of the country. It...
The inability of Nigeria to put a total stop to gas flaring has seen the country losing an average of $692.66 million annually from flaring an average of 224. 22 billion standard cubic feet (SCF) of the product. For an economy in recession, this...
Nigerians may be out for another cycle of fuel scarcity as the shortage of dollars has started having its toll on fuel importation by the Nigerian...
The Federal Government has been provided with a golden opportunity to end the renewed militancy in the Niger Delta, as Traditional rulers and other stakeholders from...
The Central Bank of Nigeria (CBN) has readmitted United Bank for Africa (UBA) Plc into the foreign exchange (forex) market after the commercial bank hurriedly remitted...
The Central Bank of Nigeria (CBN) has brought down the hammer on nine banks for flouting extant financial regulations. The apex bank has banned them from taking...
Nigeria National Petroleum Corporation (NNPC), oil pipelines were blown up in the delta region on Friday in attacks alleged to have been carried out by the...
By Joseph Edgar… Dear President Buhari, I am constrained to write to you directly this morning on the frenzied search for oil in the northern basin...
President Muhammadu Buhari has also directed the Nigerian National Petroleum Corporation (NNPC) to commence a search for crude oil in the Benue Trough. This is coming...
A hot chase by men of the Lagos State Police Command who followed the movement of a woman at about midnight has led to the discovery...
By Majeed Dahiru… President Muhammadu Buhari came to power with a lot of promise. He enjoyed enormous good will from a cross section of the very...