The National Bureau of Statistics (NBS), says the average retail price of a litre of petrol increased from N202.48 in November 2022 to N648.93 in November 2023. NBS said this in its Petrol Price Watch for November 2023 released in Abuja on Thursday. It stated that the November 2023 price of N648.93 represented a 220.49 per cent increase over the …

The Nigerian government said deploying the flagship Amal gas leak detection device will accelerate the country’s adoption of compressed natural gas (CNG), a preferred energy source for homes, transportation, and industry. The minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, made this known during the Commissioning of Amal Technologies Gas Leak Detection and Printed Circuit Board Manufacturing Facility in …

President Bola Tinubu has inaugurated the Board and Management team of NNPC Limited at the State House, Abuja. Mr. Pius Akinyelure is the new Non-Executive Board Chairman of the company, while Mallam Mele Kyari retains his position as the Group Chief Executive OOfficer Others include Alhaji Umar Isa Ajiya, the Chief Financial Officer, and Ledum Mitee, Non-Executive Director. The rest are …

Tantita Security Services Limited has countered the Nigerian Navy over the crude oil vessel that was seized in the coastal waters of Ondo state. The Nigerian Navy had accused Tantita Security of being involved in illegalities, but the security company is claiming the Navy is preventing its operatives and other security agencies from boarding the seized vessel for further investigations. …

Dangote Oil Refining Company says its plant is awaiting the second shipment of barrels of crude in three weeks after it received its maiden one million barrels on Friday. The company, in a statement, said the STASCO vessel sailed to the refinery’s single-point mooring, where it was discharged into the refinery’s crude oil from the Shell International Trading and Shipping …

The Nigerian Navy on Thursday said its personnel arrested a 77-metre-long Motor Tanker Vinnalaris 1 Lagos. It also accused the personnel of Tantita Security Services – a private security company, owned by an ex-Niger Delta warlord, Government Ekpemupolo (popularly known as Tompolo) of involvement in the illegal activities. The Nigerian Navy said the vessel had 17 crew members onboard at …

A Senate committee, on Thursday, threatened to report some oil and gas companies in the country to the Economic and Financial Crimes Commission (EFCC) if they are found culpable of misappropriating a Central Bank of Nigeria (CBN) intervention loan of N135 billion. The Chairman of the Senate Committee on Gas Resources, Hon. Agom Jarigbe, issued the threat when the beneficiary companies appeared before the …

The pan-Yoruba socio-cultural and political organisation, Afenifere, on Thursday, urged the Federal Government to work toward meeting its December deadline for the operation of refineries in Port-Harcourt, Rivers State. During a recent meeting with the leaders of the Nigeria Labour Congress and the Trade Union Congress, President Bola Tinubu assured that the Port-Harcourt refinery would commence operation by December, this …

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has waded into the dispute between Chevron Nigeria Limited and some communities within the company’s Warri exploration and production area in Delta State, over the composition and naming of the Host Communities Trust Fund. Both parties in the dispute have been urged to maintain the peace pending the resolution of the matter. The …

The Minister of State, Petroleum Resources (Gas), Ekperikpe Ekpo, says the construction of the Nigeria-Morocco Gas Pipeline Project which aims to link European market is expected to begin in 2024. Under this project, Gas is expected to be transported through the participating countries, including Nigeria, Benin, Togo, Ghana, Côte d’Ivoire, Liberia, Sierra Leone, Guinea, Guinea-Bissau, The Gambia, Senegal, Mauritania, and …