The Dangote Petroleum Refinery is currently importing crude oil and expects its first crude cargo in two weeks’ time, the Executive Director, Dangote Group, Devakumar Edwin, has revealed.
Although the Nigerian National Petroleum Company Limited trades crude oil on behalf of Nigeria, Edwin in an interview with S&P Global Commodity Insights on Monday, said the NNPCL had committed its crude to other entities.… Read the rest
Following the recent increase in crude oil price to $94 and fears that Premium Motor Spirit (PMS) might cost more, marketers have dismissed the apprehension.
According to them, there has been no announcement by the Nigerian National Petroleum Company Limited (NNPCL) in that respect.
Marketers had explained that the price of crude oil and the exchange rate account for over 80 percent of the cost of petrol.… Read the rest
Gas retailers are sounding the alarm, warning that the price of a 12.5kg cooking gas cylinder could surge to N18,000 by December if the Federal Government does not intervene to regulate the actions of terminal owners.
Olatunbosun Oladapo, the President of the Nigerian Association of Liquefied Petroleum Gas Marketers, raised these concerns about the soaring cost of Liquefied Petroleum Gas (LPG), commonly known as cooking gas.… Read the rest
The Nigeria Extractive Industries Transparency Initiative (NEITI) said on Monday that the oil and gas industry generated over $23billion in 2021.
The Executive Secretary of NEITI, Dr Orji Ogbonnaya Orji said this while presenting highlights on the 2021 Oil and Gas report unveiled in Abuja.
According to Orji, the revenue sources included sales of federation crude oil and gas, taxes, royalties, concession rental, gas flare penalty, bonus and license fees, as well as transportation fees.… Read the rest
Six months after the Federal Government’s proposed plan of floating a national carrier, stakeholders have intensified the call for the establishment of a national fleet and vessel ownership by individuals to enable the country to participate in international shipping trade.
Recall that a former Minister of Transportation, Rotimi Amaechi, had in 2016, unfolded the Federal Government’s plan to float a new national shipping line.… Read the rest
The Nigerian National Petroleum Company Limited, on Sunday, announced the appointments of three new Executive Vice Presidents.
NNPCL appointed Oritsemeyiwa Eyesan as the new Executive Vice President, of Upstream; Olalekan Ogunleye as Executive Vice President, of Gas, Power, and New Energy; and Adedapo Segunas as the Executive Vice President, of Downstream.
The announcement, which was posted on the company’s X (formerly Twitter) handle early Sunday, stated that the appointment of the new EVPs was with immediate effect.… Read the rest
Nigeria and other global energy leaders will today converge at the 24th edition of the World Petroleum Congress in Calgary, Canada to deepen talks on sustainable energy transition.
Group Chief Executive Officer of Nigerian National Petroleum Company(NNPCL), Mr. Mele Kyari, is expected to be on a panel session at the global energy event to be supported by the Commission Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission(NUPRC), Mr.Gbenga… Read the rest
The Nigerian National Petroleum Company Limited (NNPCL) on Saturday announced it has signed a gas supply agreement with Indorama Eleme Petrochemicals Limited.
According to NNPCL, the signing of the agreement was in a bid to promote the use of natural gas by large-scale gas utilization industries.
“NNPC Ltd. and Indorama Eleme Petrochemicals Ltd., have signed a Memorandum of Understanding (MOU) to explore and develop suitable opportunities within the remits of both parties’ interests across the hydrocarbon value chain in Nigeria,” the oil firm said in a statement signed by Garba Deen Muhammad, the company’s chief corporate communications officer on Saturday.… Read the rest
More than 600 years ago, Zheng He, a Chinese navigator, led fleets to sail across oceans to Africa with precious goods such as gold, silver, silk, porcelain, tea, and so on, opening the “Maritime Silk Road” and conveying China’s wish for good relations with Africa.
Nowadays, the 43rd escort fleet of the Chinese Navy visited beautiful Africa once again in the fleet of cooperation, peace, and friendship, commencing friendly visits to five West African countries, including Nigeria.… Read the rest
The Fridays For Future (FFF) Nigeria and Climate Live Nigeria, has called for an end to fossil fuels production and usage in Nigeria.
Mr Kingsley Odogwu, National Coordinator and Country Representative of the organisation said this at the Climate Justice Road-walk campaign, on Friday in Abuja.
He said that the campaign was aimed at raising awareness on the effects of fossil fuels and the need for the Federal Government to transit to renewable energy sources.… Read the rest