Oil prices has dropped to six-week lows, under pressure from high global inventories and doubts about OPEC’s ability to implement agreed production cuts. This has given...
Fuel subsidy appeared to have returned, as the Nigerian National Petroleum Corporation, NNPC, said it recorded ‘under recovery’ of N49.86 billion between January and March 2017....
Minister of State for Petroleum resources, Mr. Ibe Kachikwu said that the Federal Government has neither sold nor concession the country’s refineries to any individual or company. Addressing newsmen...
Oil prices incurred losses having hit one-month lows earlier in the day after unexpected surge in U.S. inventories and the return of more Nigerian crude aggravated...
The Petroleum Products Pricing Regulatory Agency, PPPRA said Nigerians should ignore rumours of an impending hike in the price of Premium Motor Spirit, PMS, also known...
Nigeria’s refineries continued to perform woefully, with two of the refineries, Warri and Kaduna refineries, recording a combined operating deficit of N2.952 billion in the month...
Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC members are in the process of legalising their new found relationship, says OPEC Secretary-General, Mr Mohammed Barkindo. Barkindo...
Senate President , Dr. Abubakar Bukola Saraki, has said that the recommendation made by the Senate committee on Works will not lead to hike in fuel...
Senate Committee on works has proposed a five Naira petrol tax on every litter of petrol purchased in Nigeria. The committee has thus proposed a marginal...
Nigerian National Petroleum Corporation, NNPC, has said that it has entered into a partnership with the Bayelsa State Government to build a power plant in the...
The Nigerian National Petroleum Corporation, NNPC, has said that Indonesia has shown interest in purchasing more crude oil from Nigeria. The NNPC in a statement in...
Some investors and representatives communities in Niger Delta have condemned the Federal Government’s cancellation of Oil Prospecting Licences (OPL) 2001, 2002 and 2003 in the Utapate...
Members of the Organisation of the Petroleum Exporting Countries have agreed to extend production cuts for nine months, according to media reports, citing a delegate at...
The Nigerian National Petroleum Corporation said it has approached some Chinese investors to partner in its Research and Development, R&D, venture. NNPC said this in a...
Nigerian National Petroleum Corporation NNPC, is in the final stage of signing $6 billion worth of deals to exchange more than 300,000 barrels per day (bpd)...