Removal of petrol subsidy necessary for long-term economic prosperity – Tinubu
President Bola Tinubu has stated that the decision of his administration to remove subsidy on Premium Motor Spirit (PMS) or petrol was premised on the need to ensure long-term energy…
Nigeria’s interventions in oil and gas sector to safeguard investment value – Tinubu
President Bola Tinubu says his administration will continue to provide the needed interventions in the oil and gas industry in line with the provisions of the Petroleum Industry Act (PIA).…
NNPC fulfils promise, delivers rehabilitated Port Harcourt refinery in schedule
The Nigerian National Petroleum Company (NNPC) Ltd. has fulfilled its pledge of achieving the mechanical completion of rehabilitation work on Area 5 Plant of the Port Harcourt Refining Company (PHRC).…
Tinubu stops collection of VAT, import duty on cooking gas
The federal government has announced the exemption of the importation of liquefied petroleum gas (LPG) and its equipment from the payment of customs duty and value-added tax (VAT). The development…
Petrol scarcity looms as tanker drivers launch protest, vow to dump NUPENG
The Petroleum Tanker Drivers (PTD) have launched a nationwide protest and threatened to severe ties with their parent union, the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) if…
FG to cancel refinery licences not in use – Petroleum minister
Dr Heineken Lokpobiri, minister of state for petroleum resources (oil) said the licences of refineries not in use will be cancelled. He was speaking in Bayelsa at the weekend following…
NNPC set to allocate six million barrels of crude oil to Dangote Refinery
The Nigerian National Petroleum Company (NNPC) Limited is expected to allocate six million barrels of crude oil to Dangote Refinery in December 2023. The move by the national company is…
Rehabilitation: Kaduna refinery ready by end of 2024 – Petroleum minister
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has revealed that the ongoing quick-fix project at the Kaduna Refinery and Petrochemicals Company Limited, KRPC, will be back…
Ribadu confirms Nigeria still losing over 400,000 barrels of crude oil per day
National Security Adviser (NSA), Malam Nuhu Ribadu, has confirmed that the country is still losing 400,000 barrels of crude oil daily to local and international thieves despite efforts to end…
Cooking gas price hike looms, Nigerians brace for more pain
The price of cooking gas is set to rise again next week, according to the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM). The association's president, Olatunbosun Oladapo, said the…