The Independent Petroleum Marketers Association of Nigeria (lPMAN) says the incessant increase in tariffs of petroleum products by the Nigerian Midstream and Downstream Petroleum Regulatory (NMDPRA) might adversely hinder the success of oil subsidy removal.
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ASHENEWS reports that Nigerian government has plans to deploy revenues generated from hydrocarbons, to fund its $1.9 trillion energy transition, the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has said.
It has been been revealed that the company responsible for the Ibadan explosion, is owned by forieners.
Shell Plc has reached an agreement to sell its Nigerian onshore oil assets to a local consortium for over $1.3 billion, pending government approval.
The Dangote Petroleum Refinery has registered seven members of the Major Oil Marketers Association of Nigeria (MOMAN) for the purchase and distribution of its refined petroleum products from the refinery.
The cost of crude oil, the exchange rate of the Dollar to the Naira, and government interventions (i.e., subsidies, taxes, levies, etc.) are the biggest factors in determining the price of petrol, diesel, kerosene, and other petroleum products to the consumer.
Nigeria is listed as the 22nd country with the most affordable fuel prices in a recent obal report, which compares the costs of Premium Motor Spirit (PMS) worldwide.
The Dangote Refinery and Petrochemical Company, world’s largest single-train refinery, has confirmed it would receive the shipments of the fifth and sixth crude oil from the Nigerian National Petroleum Company (NNPCL) on Thursday and Saturday this week.
ASHENEWS reports that a key indigenous player in the oil and gas industry, Temile Development Company Ltd, recently inaugurated a 23,000 cubic meters ultramodern Liquefied Petroleum Gas (LPG) carrier, in a move to advance Nigeria’s domestic gas industry and the generation of gas revenues.
The Nigerian National Petroleum Company Limited (NNPCL) has supplied another one million barrel of crude oil to Dangote Refinery for commencement of production.