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Breezy News Nigeria

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Home Business Oil & Gas (page 10)

Oil & Gas

Seized petrol to be auctioned at ₦400/litre – Customs

By Breezynews
30 December 2024
in :  Oil & Gas
0
15

The Nigeria Customs Service (NCS) has announced plans to auction 15,325 litres of seized Premium Motor Spirit (PMS), commonly known as petrol, at ₦400 per litre to help ease transportation challenges during the festive season. The National Coordinator of the service’s Operation Whirlwind, Hussein Ejibunu, made this announcement on Saturday during a press briefing at the Customs Training College in …

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20 illegal refineries raided by troops, 8 arrested in N/Delta

By Breezynews
30 December 2024
in :  Oil & Gas
0
6

The 6 Division of the Nigerian Army has successfully dismantled 20 illegal oil refining sites, recovered 90,000 litres of stolen petroleum products, and arrested eight suspects in a major operation across the Niger Delta. The raid, conducted in collaboration with sister security agencies, targeted criminal activities in Rivers, Bayelsa, Akwa Ibom, and Delta States between 23 and 29 December 2024. …

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CBN attributes oil revenue decline to old pipeline infrastructure, operational inefficiencies

By Breezynews
27 December 2024
in :  Oil & Gas
0
36

The Central Bank of Nigeria (CBN) has attributed the significant decline in oil revenue for the third quarter of 2024 to ageing pipeline infrastructure and operational inefficiencies According to the apex bank’s latest economic report for the third quarter of 2024, oil revenue fell by 24.72 per cent to N1.30 trillion compared to the second quarter of 2024. This drop …

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Market forces reason fuel was reduced to N899/litre — Dangote

By Breezynews
26 December 2024
in :  Oil & Gas
0
84

President of Dangote Group, Aliko Dangote, has explained that the reduction in the price of petrol from his refinery was in response to market forces. Africa’s richest man disclosed this during an interview in an Arise TV documentary posted on YouTube and obtained by our correspondent on Wednesday. According to him, the move was to protect the interests of the …

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Shell’s $5b investment confirms Nigeria as top investment destination – Group

By Breezynews
26 December 2024
in :  Oil & Gas
0
15

The Democratic Front (TDF) has said that the announcement of a $5 billion final Investment Decision (FID) by Shell on the Bonga North Deep Offshore field is yet another proof of the investment-friendly mindset of the Tinubu administration. In a statement by its Chairman, Mallam Danjuma Muhammad, and Secretary,  Chief Wale Adedayo, the group noted that it showed that International …

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Fuel to sell at N935/litre from Monday – IPMAN

By Breezynews
22 December 2024
in :  Oil & Gas
0
11

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that the price of petrol will drop to N935 per litre by Monday in view of Dangote Refinery’s new arrangement. IPMAN said the new price was necessitated by the reduction in Dangote Refinery’s fuel ex-depot price and uniform arrangement, which would enable marketers to sell at N935 in their outlets …

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Marketers in suspense as NNPCL, Dangote refinery reduce petrol price

By Breezynews
22 December 2024
in :  Oil & Gas
0
6

Intense pricing competition emerged in the nation’s downstream sector on Saturday after the Nigerian National Petroleum Company Limited (NNPCL) reduced its ex-depot price of Premium Motor Spirit (PMS), commonly referred to as petrol, to N899 per litre. This decision, coming days after the Dangote Refinery reduced its price to N899, was confirmed by the Petroleum Products Retail Outlets Owners Association …

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Port Harcourt refinery shuts down again after $1.5b rehabilitation

By Breezynews
21 December 2024
in :  Oil & Gas
0
27

Less than a month after the Port Harcourt Refining Company appeared to have resumed production, the facility has stopped working. According to Saturday PUNCH, who visited the refinery on Thursday, 19 December 2024, observed that the lifting of Premium Motor Spirit (petrol) had stopped. Saturday PUNCH gathered that the lifting of petrol actually stopped last Friday, 13 December, as the …

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IOCs divestment: Navigating regulations, unlocking growth opportunities for indigenous oil companies 

By Akpandem James
20 December 2024
in :  Oil & Gas
0
8

In recent years, international oil companies (IOCs) operating in Africa have been moving to sell off some of their assets and relocate to more profitable, environmentally and socially friendly operational landscapes. While some considered moving from one jurisdiction to another within the continent, others contemplated a complete exit. About 26 oil blocks were to change hands in the process, amid …

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Emulate Dangote Refinery – PETROAN tells NNPCL

By Breezynews
19 December 2024
in :  Oil & Gas
0
7

The Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, has urged the Nigerian National Petroleum Company Limited, NNPCL, to slash its ex-depot price of Premium Motor Spirit, PMS, commonly known as petrol. The spokesperson for PETROAN, Joseph Obele, made this call in a statement on Thursday. This comes after Dangote Refinery reduced its ex-depot petrol price to N899.50 per …

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