The Federal Government has said it would further review its pricing template for petrol with the aim of removing several multi-layered charges and costs that affect the pump price of petrol at service stations across the country.
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Experts fret over petroleum industry outlook To douse tension in the oil-rich Niger Delta, the Federal Government plans to award to indigenes of the region marginal fields’ oil blocks abandoned by the oil majors as being not commercially viable. The plan is in line with the government’s larger objective of reducing major incidents of restiveness to about 90 per cent […]
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The Nigerian National Petroleum Corporation (NNPC), on Tuesday disclosed that its Mosimi Depot in Ogun State, has come back into operation a year after pipeline vandals forced it to go offline, and is now loading petroleum products for onward distribution to other parts of the country. The corporation stated that the development would boost supply and distribution of petroleum products […]
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The Petroleum Tanker Drivers, PTD, branch of the Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, yesterday, evening suspended their nationwide indefinite strike, following Federal Government’s approval of bridging cost allowance from N6.20 to N7.20. National Chairman of PTD, Mr. Salimon Oladiti, who confirmed the suspension of strike, after a meeting with representatives of the Federal Government at the […]
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The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has invited leaders of the Petroleum Tankers Drivers (PTD) section of the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) and the National Association of Transport Owners (NARTO) to a meeting today as part of the efforts to avert the strike planned by PTD, which […]
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Key stakeholders from the coastal Gbaramatu Kingdom, Delta State, where ex-militant leader, Government Ekpemupolo (aka Tompolo), hails from have met with the Federal Government officials to prepare the ground for participation in the new policy to introduce modular refineries in the Niger Delta. The team from Gbaramatu led by the former Chairman of the Delta State Oil Producing Areas Development […]
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The Nigerian National Petroleum Corporation (NNPC) has said it would support plans by the federal government to formalise illegal crude oil refining operations in the Niger Delta, saying it was part of the antidotes to criminality including militancy in the region. According to the corporation, the government’s decision would take away from the streets of the region, many of its […]
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The Federal Government is currently working towards making some illegal refiners in the Niger Delta and local communities in the region shareholders in the proposed modular refineries concept. This is one of the falls-out of the ongoing engagements in the region being spearheaded by Vice-President Yemi Osinbajo. A government official who spoke on the condition of anonymity disclosed this to […]
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The Nigerian National Petroleum Corporation (NNPC) and the Independent Petroleum Marketers Association of Nigeria (IPMAN) are heading for a collision over the introduction of Bulk Purchase Agreement (BPA) fee by the corporation. The marketers alleged that NNPC introduced BPA fee of N125,000.00 yearly for bulk buyers of petrol and also directed that each marketer should make five years upfront payment, […]
Continue reading »The Nigerian National Petroleum Corporation, NNPC, yesterday, denied any plan to further hike the price of Premium Motor Spirit, PMS, also known as petrol, stating that current realities on ground didn’t support any increase. Addressing newsmen in Abuja, Group General Manager, Group Public Affairs Division of the NNPC, Mr. Muhammad Garba-Deen, said there was absolutely no plan by the Federal […]
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Former and present Group Managing Directors of the Nigerian National Petroleum Corporation have expressed fears that the current pump price of N145 per litre is no longer feasible. They said the amount does not correspond with the price-determining components of the commodity and the fluctuations of the foreign exchange rate. They stated this after a one-day meeting they held with […]
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As part of the efforts to address frequent disruptions to the supply of crude oil to the Kaduna Refinery and Petrochemical Company (KRPC) as a result of the Niger Delta militancy, the Nigerian National Petroleum Corporation (NNPC) is considering importing crude oil from Chad and Niger Republic, investigations by THISDAY have revealed. This is coming as the President of the […]
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