The Nigerian Shippers’ Council, NSC, said it has approved negotiated and reviewed haulage rates from Eastern ports to various destinations in the country.
The rates approved were in consideration of cost moderation, cargo transport issues and acceptable by all parties, including freight forwarders and truck owners.
Addressing the meeting in Lagos, the Executive Secretary and Chief Executive Officer of NSC, Pius Akutah, commended the stakeholders for their concerted efforts during the negotiation.… Read the rest
The Nigerian National Petroleum Company Limited (NNPC) on Thursday said that it plans to replace almost all the over 5,000 pipelines network scattered across the country in the next three years.
Nigeria currently transports a large portion of its fuels through tankers and other inefficient means, considerably raising the cost of production and by extension the pricing of products.
Speaking at the 2024 edition of the Society of Petroleum Engineers Oloibiri Lecture Series and Energy Forum (SPE OLEF) held in Abuja, the NNPC Group Chief Executive Officer, Mr Mele Kyari, explained that pipelines remain the most efficient and cost-effective way of transporting petroleum products.… Read the rest
THE former Director-General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Dakuku Peterside, has said that implementating attractive roadmap policy framework will boost blue economy.
Peterside said this in an interview with the News Agency of Nigeria (NAN) in Port Harcourt on Wednesday.
He said, the “foundational thing to do to enhance the blue economy is to put in place attractive roadmap that would woo investors into the sector.”… Read the rest
NNPCL was reacting to reports suggesting a drop in pump prices for Premium Motor Spirit and Automotive Gas Oil as reported in some sections of the media (not PUNCH Online).
The Chief Communications Officer, NNPCL, Olufemi Soneye, dispelled the speculations in a statement made available to journalists.… Read the rest
President Bola Tinubu has executed Policy Directives to improve the investment climate and position Nigeria as the preferred investment destination for the oil & gas sector in Africa.
A statement by presidential spokesman, Ajuri Ngelale on Wednesday, said this is in keeping with the President’s dedicated efforts to remove obstacles to investments in Nigeria, harness the nation’s resources and diversify the economy for the benefit of all Nigerians.… Read the rest
The Minister of State for Environment, Dr Iziaq Salako, has said the ministry through the National Oil Spill Detection and Response Agency will be commencing periodic review of the plans of international and indigenous oil companies to ensure they stay on course to end routine gas flaring by 2030.
Salako said this in Abuja on Tuesday at the national stakeholders engagement meeting on methane mitigation and reduction in Nigeria’s oil and gas sector.… Read the rest
The torrential fall of the Naira which has turned the petroleum supply chain into a quagmire is fast eroding the projected gains after the federal government finally removed the petrol subsidy regime.
Oil marketers and government officials also appear not to be on the same page when it comes to the actual landing cost of Petroleum Motor Spirit and the impact that Nigeria’s fluctuating currency has had on the importation of the product.… Read the rest
Secretary General of the Maritime Organisation of West and Central Africa (MOWCA), Dr. Paul Adalikwu, has stepped up interaction with the United States Government to lift restrictions placed on some member countries allegedly implicated in illicit shipping activities.
Adalikwu, who led a delegation from the MOWCA Secretariat to the US Embassy in Abidjan for a first leg of the strategic consultation aimed at promoting seamless participation of MOWCA countries in international trade within the global maritime space, reiterated the organisation’s commitment to the best ethical and lawful maritime practices.… Read the rest
Nigerian Academy of Engineering (NAE) has called on the Federal Government to divest its 51 per cent equity in refineries.
It noted that the suggestion was one of the sustainable ways to raise capital from the private sector for their upgrade and optimal performance at 445,000 barrels per day (bpd).
The academy’s president, Prof. Azikiwe Onwualu, made the submission yesterday in Abuja.… Read the rest
The Nigerian National Petroleum Company Limited (NNPC) has said that Nigeria would need between $10 billion and $15 billion in the next two to three years to ramp up its existing gas infrastructure.
The Group Chief Executive Officer of the NNPC, Mele Kyari, gave the estimate at the 2024 edition of CERAWeek, a global oil and gas event in Houston, the United States, organised by S&P Global.… Read the rest