The Minister of State for Petroleum Resources, Mr Ibe Kachikwu, said the Oil and Gas sector in Nigeria had witnessed positive transformation since the “Declaration of Cooperation” by OPEC and non-OPEC members. Kachikwu said this in an interview with journalists on the sideline of the 7th OPEC International Seminar taking place in Vienna, Austria, with […]
…A big and welcome project for Africa, says Ghanaian VP Ahead of the completion of the Dangote Oil Refinery, petroleum importing African nations and Bulk Oil Distributors based in Ghana have expressed eagerness to patronise the Nigerian Refinery when production starts. The oil buyers said arrangements have been put in place to import petroleum products […]
Mr. Olutaye Ayeni, the 7th prosecution witness in the ongoing trial of Jide Omokore, an ally of former minister of Petroleum Resources, Diezani Allison-Madueke on Thursday gave a vivid account of how Omokore used his company (Atlantic Energy) to purchase cars for friends and associates. The witness, a Chief Executive Officer, Skymit Motors who was […]
The National Assembly on Wednesday passed the much touted Petroleum Industry Governance Bill (PIGB) with 5 percent levy on fuel sold across the country. According to the lawmakers, Nigerians will have to pay more for fuel as the levy will be used to fund the Petroleum Equalization Fund (PEF) as reflected in the new bill. […]
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Dr. Maikanti Baru, has restated the corporation’s commitment to support indigenous companies operating in the oil and gas industry to grow to their fullest potential. The GMD who stated this in Lagos on Thursday at the official unveiling of 11 new helicopters to […]
Nigeria is urged to embrace the new technology which will soon overtake the world in the area of the petroleum retail industry which has evolved over the past three decades – in terms of structure, layout, ownership and technologies. Processes are more streamlined through integrated process and systems, from mechanical DU, tank gauges, to electronic, […]
The House of Representatives on Tuesday received the report of its ad hoc committee on the Petroleum Industry Bill (PIB). The bill seeks to address the issues of governance, host communities and provide the regulatory framework for the country’s petroleum industry. Presenting the report during plenary Tuesday, the Chairman of the ad hoc committee, Rep. […]
The Peoples Democratic Party (PDP) has said that the failure of the President Muhammadu Buhari-led Ministry of Petroleum Resources to find any solution to the biting fuel crisis in the country has wrecked the nation’s economy. This is just as the party slammed the Minister of State for Petroleum, Dr. Ibe Kachikwu over his proposals […]
The combined team of officials of the Nigerian National Petroleum Corporation (NNPC) and the Department of Petroleum Resources (DPR), led by the Group Managing Director of the NNPC, Dr. Maikanti Baru, has heightened the tempo of unscheduled visits to fuel stations across the Federal Capital Territory suspected to be involved in underhand dealings. The raid, […]
The Department of Petroleum Resources (DPR), Kogi state has sealed five filling stations in Lokoja for selling Premium Motor Spirit (PMS) above the government regulated price of N145 per litre. The operations controller of DPR in Kogi state, Amos Jokodola, who ordered the sealing while inspecting all the filling stations to assess the level of […]
Nigerians may have to prepare for a long period of horrifying petrol scarcity as the Depot and Petroleum Products Marketers Association (DAPPMA) (fuel depot owners) and the Nigerian National Petroleum Corporation (NNPC) are currently bickering over a N21.7 billion debt and who should be blamed for the persisting crisis hurting Nigerians. While the depot owners […]
The lingering fuel crisis in Nigeria has been attributed to the nefarious activities of petroleum marketers who are hoarding the products to create artificial scarcity thereby sabotaging the efforts of government to make the premium motor spirit available to the citizenry in the country. In a press statement made available to newsmen in Abuja by […]
A senior lawyer, Mr Femi Falana (SAN) has said that Maikanti Baru, group managing director of the Nigerian National Petroleum Corporation (NNPC), and Ibe Kachikwu, minister of state for petroleum, deceived Nigerians by saying there was enough fuel to supply consumers. In a statement on Monday, Falana said despite the assurance given by the duo, […]
The Nigerian National Petroleum Corporation (NNPC) on Sunday said the landing cost of imported petrol is now N171 per litre, but emphatically stated that it will continue to make it available to Nigerians at the approved N145 a litre. The Group Managing Director of the NNPC, Maikanti Baru, disclosed the new level of subsidy as […]
Motorists went wild with joy on Monday at Mani Petrol Station, Mowe, Ogun State as the Department of Petroleum Resources (DPR), turned Santa Claus and offered them free petrol. The free fuel by the DPR was the result of a sanction imposed on the owner of the station, who had ignored an earlier warning to […]
Owing to the decision made by the Nigerian National Petroleum Corporation to ensure availability of Premium Motor Spirit, (PMS), the National Association of Road Transport Owners (NARTO) and Petroleum Tanker Drivers (PTD) have pledged to throw their weight behind the NNPC in its efforts to rid the hiccups being experienced in the supply and distribution […]
Six major petroleum marketers are already loading products round the clock from their various depots in Lagos for onward trucking to all parts of the country. This is according to the Nigerian National Petroleum Corporation (NNPC), as part of its intensified efforts to flood the market with Premium Motor Spirit (PMS), otherwise called petrol and […]
The Department of Petroleum Resources (DPR), has placed stiff penalties against depot owners who engage in illicit activities. This is contained in a statement signed by Zonal Operations Controller, DPR Lagos, Wole Akinyosoye. ‘It has come to the notice of the department that some depot owners are selling PMS to unlicensed bulk buyers and some […]
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has advocated zero tolerance for corruption in all the arms of the corporation. In a press statement, Baruon stated this though a mail-broadcast message sent to the staff of the corporation by the NNPC Anti-Corruption Committee, as part of the activities […]
In recognition of what it described as outstanding contributions to the development of local content in the Nigerian oil and gas industry, the Petroleum Technologies Association of Nigeria(PETAN) has honoured Shell companies in Nigeria with Aret Adams’ Award for Excellence. PETAN announced the recognition at the 2017 award night in Lagos – making it the […]
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