In what border operations analysts have described as clinical engagements aimed at ending the protracted smuggling activities, the Nigeria Customs Service (NCS) disclosed it has generated over N500 million from petroleum smugglers across the country. Arewa PUNCH investigations revealed that the newly inaugurated customs special task force team called “Operation Whirlwind” generated the said amount following sting operations carried out …

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged Dangote Refinery to consider reducing its ex-depot price from N970 per litre since the estimated cost of landing petrol on Nigeria’s shores has dropped to N900.28 per litre. Last 29 July, the Federal Executive Council (FEC) endorsed President Bola Tinubu’s proposal for the sale of crude to local refineries in …

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has sought a reduction in the price of petrol across the country. The group urged the Dangote refinery to consider reducing its ex-depot price from N970 per litre since the estimated cost of landing petrol on Nigeria’s shores has dropped to N900.28 per litre. President Bola Tinubu had during a Federal Executive …

In a landmark development for Nigeria’s oil and gas sector, Oriental Energy Resources Limited has launched a $315 million Floating Production, Storage and Offloading (FPSO) vessel designed to significantly enhance the nation’s crude oil production. The FPSO vessel, with a storage capacity of one million barrels, which will kick off with an initial production of 17,000 barrels per day before …

Between the end of the first and the opening weeks of the second quarters of every year, a diverse group of energy professionals from around the world converge at the Offshore Technology Conference (OTC) in Houston, Texas, to network, share knowledge, showcase innovations and generally advance the global energy sector from their respective and collaborative perspectives. Nigeria, a major petroleum-producing …

The Federal Government has declared that Nigeria’s oil production, including condensates, increased by 9.9 per cent to 1.69 million barrels per day in November 2024, up from 1.538mbpd recorded in October 2024. According to the latest data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), an agency of the Federal Government, liquid crude oil production rose by 11.42 per …

Crude oil refiners and other players in the downstream sector have stated that the dollar charges on locally refined Premium Motor Spirit (PMS), popularly called petrol, coupled with the cost of importing crude are major reasons for the high cost of the product when compared to imported PMS. Data obtained from the Major Energies Marketers Association of Nigeria on Tuesday …

NNPC Limited (NNPCL) has said that the new Port Harcourt refinery is over 90 per cent completed. The Port Harcourt Refining Company (PHRC), operates two refineries; the old plant with a capacity of 60,000 barrels per stream day (bpsd) and a new facility with 150,000 bpsd, bringing the refinery’s combined crude processing capacity to 210,000 bpsd. Receiving leaders of the …

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has begun lifting Premium Motor Spirit (petrol) from the Dangote Petroleum Refinery, according to The PUNCH. This follows an agreement reached with the refinery last month by IPMAN. It was learned that IPMAN members have so far lifted millions of litres of petrol from the Dangote refinery located in the Lekki free …

Committed to securing the maritime borders of the country, the Nigerian Navy has deployed 15 warships and three helicopters for this year’s Chief of Naval Staff (CNS) sea exercise aimed at curbing maritime threats and improving security in the Gulf of Guinea. The exercise will showcase the navy’s ability to protect the maritime environment for national economic prosperity as well …