The Nigerian Navy (NN) said on Thursday that those behind recent media attacks on the service are “soon-to-be-arrested criminals involved in crude oil theft”. This is as the service noted that it has been working harmoniously with all maritime stakeholders in the country and beyond, contrary to views in some quarters. The Navy noted that the involvement of private maritime …

The Nigerian National Petroleum Company Limited (NNPC Ltd) has said there is no imminent increase in the cost of petrol. A statement by the chief corporate communications officer of the company, Olufemi Soneye also cautioned motorists against panic-buying. The response came amidst a report that the company on Tuesday clashed with petroleum marketers under the aegis of the Independent Petroleum …

The Minister of Information and National Orientation, Mohammed Idris has said that the private sector has a leading role in actualising the federal government initiative on Compressed Natural Gas (CNG) in the country. Idris stated this yesterday in Abuja at the commissioning of the ABG CNG Plant and graduation of 40 CNG Conversion Technicians. Idris who described the effort of …

The Dangote Petroleum Refinery, on Monday, received the fourth shipment of one million barrels of bonny light crude oil, supplied by the Nigeria National Petroleum Corporation Limited (NNPCL). A statement from the $20 billion firm stated that the oil company was expecting the fifth crude oil shipment soon. The plant had earlier received three shipments of crude oil, as officials …

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has rolled out its action plan for 2024 and near term 2024 to 2026, highlighting in broad terms the regulatory approach and actions to be implemented in furtherance of its mandate as the apex regulatory agency established to supervise upstream petroleum operations in Nigeria. In a statement on New Year’s eve, the commission …

The coming on stream of Port Harcourt and Dangote refineries may only lead to marginal reduction in the cost of petroleum products and not a significant price crash, some oil and gas experts have said. According to the experts, who spoke to newsmen on Sunday in Abuja, ancillary costs such as freight and port charges, among others would have been …

Within 12 months, the average retail price of Household Kerosene (HHK) soared by 18.78% from N1,083.57 in November 2023 to N4,583.44 in November 2022. The National Bureau of Statistics (NBS) made this known in its document tagged: “The average retail price per gallon of Household Kerosene paid by consumers in November 2023 was N4,583.44, showing an increase of 0.03% from …

Despite the federal government’s policy to reduce the price of Liquified Petroleum Gas (LPG), also known as cooking gas, the price has continued to increase even during the yuletide season. An economist, Dr Ayo Anthony, told the News Agency of Nigeria (NAN) in Abuja that it takes time for government policies to impact the economy. The federal government announced the …

The Nigeria Labour Congress (NLC) has warned against a possible takeover of the Port Harcourt Refinery by cabals of government. The union also demanded an audit of the refinery and called on the Federal Government to purge the refinery of “elements” that led to its collapse in the first instance. NLC Head of Information, Benson Upah, made this known in …

The federal government has announced that the Port Harcourt Refining Company (PHRC) is currently 77.4 per cent completed even as it has fulfilled its pledge of achieving the mechanical completion of rehabilitation work on Area 5 Plant of the refinery. The Nigerian National Petroleum Company (NNPC) Limited, which made this known, said rehabilitation work has been ongoing at the Refinery …