The Federal Government and crude oil producers in the country have committed to working towards a sustainable supply of crude oil to local refineries under a market-determined pricing system, according to statement on Wednesday by the Nigeria Upstream Petroleum Regulatory Commission (NUPRC). The commission said that the aim is to ensure that while the operators do business optimally, the refineries …

A fresh oil spill has hit the Bodo community in the Gokana Local Government Area of Rivers State, destroying farmlands. It was learnt that the oil spillage occurred on Thursday from a pipeline belonging to Shell Petroleum Development Company. This came barely two months after a similar incident occurred along the pipeline at different locations in the area. One of …

The Nigerian National Petroleum Corporation Retail Limited has denied allegations circulating on social media about a fuel pump attendant coercing customers to purchase lubricants or engine oil as a prerequisite for buying petrol. In a statement signed on Sunday, the Chief Corporate Communications Officer of NNPC Ltd. Olufemi Soneye, clarified the situation, stating, “The attention of NNPC Retail Limited has …

There was a fire outbreak on Wednesday at the Dangote Petroleum Refinery in the Lekki Free Zone, Lagos. Reacting to the incident, the Chief Corporate Communications Officer of Dangote Group, Anthony Chiejina, disclosed in a statement sent to Vanguard that the fire has been contained and there is no cause for alarm. The statement read: “We have swiftly contained a …

President Bola Tinubu says Nigeria remains committed to a balanced approach to energy transition and still requires substantial investments in the oil and gas sector to meet the energy demands and economic needs of its population. Speaking at a meeting on Monday in Abuja with the Group Chief Executive of Standard Chartered Bank, Mr. Bill Winters, the President called for …

The Vice President of Oil and Gas, at Dangote Industries Limited, Devakumar Edwin, has accused International Oil Companies (IOCs), in Nigeria of doing everything to frustrate the survival of Dangote Oil Refinery and Petrochemicals. He said the IOCs were deliberately and wilfully frustrating the refinery’s efforts to buy local crude by jerking up the high premium price above the market …

The delivery date for the completion of the $700 million Obiafu-Obrikom-Oben gas pipeline project, popularly called OB3, has been shifted from March 2024 to August, as the Nigerian National Petroleum Company Limited (NNPCL) announced its readiness to complete the facility. On 28 February 2024, the Federal Government had declared that the project would be completed in March this year, a …

The repeated slump in Nigeria’s monthly oil outputs since January 2024 has resulted in a revenue loss of about N636.3 billion, according to Sunday PUNCH. Oil production data obtained from a Federal Government agency indicated that Nigeria produced 1.43 million barrels of crude oil (excluding condensates) in January this year, but this nosedived to 1.25mbpd in May. Figures obtained by …

The minister of information and national orientation, Mohammed Idris, has described the Ajaokuta-Kaduna-Kano (AKK) gas pipeline project as a pivotal step towards unleashing the immense economic potential of Northern Nigeria. The minister spoke in Kaduna yesterday during a site visit to the River Kaduna AKK Gas Pipeline Project in the company of the minister of finance and coordinating minister of …

Independent marketers have lifted and distributed over 25 million litres of Automotive Gas Oil (AGO), popularly called diesel, produced by the Dangote Petroleum Refinery in less than three months after the plant started releasing AGO to the market. It was also gathered on Saturday that the registration of oil marketers with the $20 billion firm was still ongoing, as more …