The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has threatened to revoke the licences of oil operators or settlors who failed to remit the three per cent statutory fees to oil communities before September ending.

The NUPRC management on Friday said its attention had been drawn to the agitation by host communities in the oil and gas producing areas of the Niger Delta region over the delay by industry settlors/operators in remitting the statutory fees.… Read the rest

Joseph Obele, the Chairman, Independent Petroleum Marketers Association of Nigeria, Rivers State Chapter has said the price of Premium Motor Spirit, known as petrol, would drop to N200/per litre if the country’s refineries are fixed.

Obele disclosed this on Friday in a statement while reacting to the soaring price of fuel after subsidy removal in June.

President Bola Ahmed Tinubu’s administration had pledged to get the Port Harcourt refinery to begin production by December 2023.… Read the rest