The Federal Government, on Tuesday, offered 12 oil blocks and five deep offshore assets for sale as it marketed the assets to global oil sector investors at the ongoing 2024 Offshore Technology Conference in Houston, United States. Speaking at the African Oil Industry Opportunities Session, a side event at the 2024 Offshore Technology Conference, the Chief Executive of Nigerian Upstream …

NNPC Limited (NNPCL) has warned motorists and the public against panic buying of Premium Motor Spirit (PMS), commonly referred to as petrol. In a statement on Tuesday, NNPCL’s Chief Corporate Communications Officer, Mr. Olufemi Soneye said the corporation emphasised that the supply and distribution of petrol across the nation have witnessed significant improvements. According to Soneye, NNPCL officials have conducted …

In line with his commitment to significantly leverage gas to grow the economy, President Bola Tinubu will commission three critical gas infrastructure projects being undertaken by NNPC Limited (NNPCL) and partners. According to the President’s spokesperson, Chief Ajuri Ngelale, the projects support the Federal Government’s effort to grow value from the nation’s gas assets while eliminating gas flaring. “The delivery …

The House of Representatives Committees on Petroleum Resources (Midstream and Downstream) yesterday assured Nigerians that the long queues at filling stations across the country will disappear in the next one or two days. They said the logistic problems that led to fuel scarcity, which caused untold hardship among Nigerians, have been resolved. The committees’ Chairmen Ikenga Ugochinyere and Henry Odianosen …

The Federal Government, on Tuesday, announced that it was set to issue a fully valid operating licence to the 650,000 barrels per day capacity Dangote Petroleum Refinery. It announced this at the Stakeholders’ Consultation Forum on Midstream and Petroleum Host Community Development Trust Regulations organised by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in Abuja. The NMDPRA, an agency …

NNPC Limited (NNPCL) began offloading 240 million litres of Premium Motor Spirit (otherwise called petrol) on Monday, as it stepped up efforts to tackle the worsening nationwide petrol scarcity. But filling stations in various locations sold the product at an average price of N800 per litre. According to The PUNCH, the South-West Regional Coordinator of the Nigerian Midstream and Downstream …

The National Association of Nigerian Students (NANS) has threatened to embark on mass action if the Federal Government fails to take immediate steps to address the current fuel scarcity in the country. The students’ body also asked the Group Managing Director of NNPC Limited (NNPCL), Mallam Mele Kyari to resign if he could not take decisive actions to resolve the …

The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the nnpc Limited over the “failure to account for and explain the whereabouts of the alleged missing $2.04 billion and N164 billion oil revenues”. According to SERAP, this followed the allegations documented in the recently published 2020 audited report by the Auditor-General of the Federation that NNPCL failed …

There is no succour yet for motorists and other petrol end users despite the Thursday statement by the Nigerian National Petroleum Company Limited (NNPCL) that it had resolved the logistic problems that sparked the supply crisis. Reports from across the country yesterday showed that many filling stations had no fuel to sell. Some sold over and above the threshold of …

Petrol shortages facing Abuja and neighbouring states intensified yesterday as more stations ran out of the product leaving commuters and motorists struggling to go about their daily business. Chaos reigned at few filling stations dispensing the product with black marketers hiking petrol price to N1,500 per litre from N1,000 per litre sold the previous day. Checks around the city showed that …