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 …

The Port Harcourt Refining Company has clarified that its operations were not completely halted but scaled down to facilitate improvements at the facility. It disclosed this on Sunday as the Independent Petroleum Marketers Association of Nigeria (IPMAN) insisted that it would not buy from the Port Harcourt refinery if the Nigerian National Petroleum Company Limited (NNPCL) sells fuel from the …

The 6 Division of the Nigerian Army has ramped up its campaign against illegal oil bunkering in the Niger Delta, dismantling 56 illegal refineries, recovering over 1.2 million liters of stolen crude, and arresting 17 suspects. The operations, conducted between 25 November and 1 December 2024, spanned Rivers, Bayelsa, Delta, and Akwa Ibom states, according to the acting Deputy Director …