An organisational restructingl recently carried out by Total Energies Marketing Nigeria Plc, formerly known as “Total Nigeria Plc’ has led to allegations that the multinational oil company is trying to cover bribery, abuse of office and corruption. In Total Nigeria Upstream, the unions have opposed the changes with some members …Read More »
Petroleum Tanker Drivers Suspend Planned Nationwide Strike.
The National Union of Petroleum and Gas Workers (NUPENG) has announced the suspension of the proposed strike by its affiliate members, Petroleum Tanker Drivers (PTD). The strike, which would have commenced today, was called off due to the intervention of the Federal Government. According to the News Agency of Nigeria …Read More »
Aiteo Slams $2.5bn Suit against Shell over Sale of OML 29.
Aiteo Eastern Exploration and Production Company Limited has instituted a legal action against Shell Petroleum Development Company of Nigeria, seeking the sum of over $2.5 billion compensation over the sales of Oil Mining Licence 29. Aiteo in the court action dated July 27, 2021 as accusing Shell of selling two …Read More »
PIA: Buhari directs incorporation of NNPC Ltd, appoints board.
President Muhammadu Buhari of Nigeria has directed the incorporation of the Nigerian National Petroleum Company Limited. Malam Garba Shehu, the President’s Spokesman in a statement on Sunday in Abuja, said the president gave the directive in his capacity as the Minister of Petroleum Resources. According to him, this is in …Read More »
DPR reopens eight petroleum depots sealed by LASPPPA.
The Department of Petroleum Resources (DPR) has reopened eight petroleum products depots shut down by the Lagos State Physical Planning Permit Authority (LASPPPA) in Ijegun-Egba, Satellite Town area of the state. Mr Ayorinde Cardoso, Zonal Operations Controller, DPR, Lagos Zone, told the News Agency of Nigeria (NAN) in Lagos on …Read More »
NNPC consolidates on gains, publishes 2020 audited financial statements.
Following up on President Muhammadu Buhari’s recent announcement of the declaration of two hundred and eighty seven billion Naira (N287bn) Profit After Tax (PAT) in year 2020 by the Nigerian National Petroleum Corporation (NNPC), the Corporation has consolidated on the remarkable achievement, by publishing the Audited Financial Statements (AFS) on …Read More »
How price differentials fuel petrol smuggling- NNPC.
The Nigerian National Petroleum Corporation (NNPC) has explained that concerted efforts by the Corporation and some Federal agencies to combat the menace of smuggling of petroleum products have been largely hampered by existing arbitrage fueled by the prevailing huge price differentials in pump price of petrol in Nigeria and neighbouring …Read More »
NLNG clarifies role in domestic LPG market, refutes newspaper claims.
The Nigeria LNG Limited (NLNG) has reacted to a newspaper report article titled “How high cost of cooking gas leaves Nigerians with deadly alternatives” where it was inaccurately stated that NLNG produces 22 Million Tonnes Per Annum (MTPA) of Liquified Petroluem Gas, otherwise known as cooking gas instead of 22 …Read More »
Why we’re investing in Dangote Refinery, by Kyari.
The Group Managing Director of the Nigeria National Petroleum Corporation (NNPC) Mele Kyari has said the decision to acquire 20 percent equity from Dangote refinery was a strategic business decision that will ultimately benefit the nation. Kyari, who spoke while responding to questions from members of the House of Representatives …Read More »
President Buhari Signs Petroleum Bill Into Law
The president signed the Petroleum Industry Bill 2021 into law on Monday. Working from home in five days quarantine as required by the Presidential Steering Committee on COVID-19 after returning from London on Friday August 13, the President assented to the Bill in his determination to fulfill his constitutional duty. …Read More »