Category: Oil & Gas

Why, How Petrol Price Hit N617 Per litre – Marketers

ADEOLA YUSUF

“(We) extend our deepest empathy to all citizens during this time.” – 11 Plc, TotalEnergies,  Conoil, ardova plc, MRS   The international price of crude oil and the exchange rate constitute the largest components of the cost build-up for Premium Motor Spirit (PMS) otherwise known as petrol accounting for over 80 percent. The Major Oil Matketers Association of Nigeria, which said this during a virtual press conference on Wednesday, added the remaining 20 percent includes statutory dues, distribution costs, and margins. Platforms Africa reports that the Nigerian National Petroleum Company…

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We Spent $17 million To Import 27 million Petrol Litres- Emadeb Energy

Efe Wellington

How we ended NNPC’s 8-year sole importer status- Olujimi   Emadeb Energy Service Ltd has said that it had taken delivery of  27 million litres at its depot. Platforms Africa reports that the Chief Executive Officer of the company, Mr. Debo Olujimi, who disclosed this during the inaugural ceremony at its Ijegun Satellite Depot in Lagos, added that his company has also Invested $17 million in PMS cargo business. READ ALSO: Renowned Nigerian Professor of English, Kole Omotoso, Is Dead JUST IN: Work Twice Weekly, Union Directs Colleges Of Education…

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N617 Per Litre: NNPC Hikes Petrol Prices, Queues Resurface

ADEOLA YUSUF

We Felt Tinubu’s Subsidy Removal Has Ended This Pain, Nigerians in queues at filling stations lament   Nigerians are in for more shocks as the Nigerian National Petroleum Company Limited (NNPCL) has further jerked up pump prices of the Premium Motor Spirit (PMS) also called Petrol, from the current price of N537 to N617 per litre. READ ALSO: Tariff Hike Imminent As Nigeria’s Electricity Subsidy Hits N2.8 Trillion Nigeria’s Inflation Hit 22.79% In June No One Has Ever Done This, Guiness World Records On ‘Human Milk Factory’ Meet The Mangis,…

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Fuel Subsidy: Approve N500bn As Palliatives, Tinubu Writes Reps

Ganiyu Amodu

The President, Bola Tinubu, has written to the House of Representatives seeking an amendment to the 2022 supplementary appropriation Act. The amendment, he said, was to allow the Federal Government to source N500 billion for palliatives to cushion the effect of subsidy removal. The Speaker of the House of Representatives, Tajudeen Abbas, read the president’s letter during plenary on Wednesday. READ ALSO: Mark Zuckerberg Trains With UFC Champions After Banters With Elon Musk Nigerian Students Face Tough Times In UK, Tuition Soars By 60% Why Tinubu Should Reconsider 7.5% VAT…

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SUV, Other Prizes Won at NCDMB Sponsored NOG Golf Tourney

Aliyu Aliyu

Name of the winner + Full list of those who went home with other mouthwatering prizes   The 2023 Nigerian Oil and Gas Energy Week Golf Tournament sponsored by the Nigerian Content Development and Monitoring Board (NCDMB) took place on Sunday at the IBB Golf Course, Abuja, with one of the players, winning a brand-new 2022 GS3 SUV car, which was the star prize at the competition. The car was sponsored by GAC Motor and is made in Nigeria. It was won by Mr Uyi Osemewegie, who emerged the overall…

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Why Tinubu Met With Shell Global Upstream Director

Aliyu Aliyu

The President had previously met with the Exxon Mobil Executives, Liam Mallon, Richard Laing and Adesua Dozie at the State House.     President Bola Tinubu has met with the Shell Global Upstream Director Zoë Yujnovich at the Presidential Villa, FCT Abuja. Platforms Africa reports that the meeting was Tinubu’s first engagement after the Sallah festivities and his foreign trips to France on June 20 and London on June 24. It is also part of ongoing consultations with leaders from the oil and gas sector since his administration discontinued petroleum…

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Why Tinubu Must Run Oil, Extractive Industries Transparently – CISLAC

ADEOLA YUSUF

The oil and other extractive industries in Nigeria must be run transparently by President Bola Tinubu if he wants to truly move the country’s economy forward. Executive Director of Civil Society Legislative Advocacy Centre (CISLAC), Awwal Ibrahim Musa Rafsanjani, who said this in opening remarks at the CSO Media Training in Lagos, tasked the president to make clear and public his anti-corruption agenda. Platforms Africa reports that the two-day training organised by accountability in Extractives Sector (AES),. centred on the “use of beneficial ownership information to improve natural resource governance…

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What TotalEnergies Found: CloseUp on Nigeria’s OML 102 Latest Oil Discovery

ADEOLA YUSUF

Location. Formation. Expectation. What to know about Ntokon-1AX discovery in 238 words.   TotalEnergies has announced oil and gas discovery in the Ntokon field located in OML102 offshore Nigeria. Located in shallow waters, 60 km off the southeast coast of Nigeria, the Ntokon-1AX discovery well encountered 38 meters of net oil pay and 15 meters of net gas pay, while its side-track Ntokon-1G1 encountered 73 meters of net oil pay, in well-developed and excellent quality reservoirs. Ntokon-1G1 tested successfully up to a maximum rate of about 5,000 barrels per day of…

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Adesua Dozie Is Vice-Chairman ExxonMobil Nigerian Affiliates

ADEOLA YUSUF

Meet The lawyer And Record breaker: What to know about Dozie, the first female Nigerian to occupy the exalted seat in ExxonMobil’s history   ExxonMobil affiliates in Nigeria – Mobil Producing Nigeria Unlimited (MPN) and Esso Exploration and Production Nigeria Limited (EEPNL) have announced the appointment of Adesua Dozie as Vice-Chairman of the Boards of the Companies, with effect from June 12, 2023. Until her appointment, Dozie, was an Executive Director and General Counsel for MPN and EEPNL. Dozie joined MPN in November 2019 as General Counsel and was elevated…

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‘Mele Kyari, Maikanti Baru Spent $19bn On Refineries’ Maintenance In 8 Yrs’

ADEOLA YUSUF

Money NNPC under Buhari lavished to maintain inefficient refineries surpassed $18.5bn Dangote used to build World’s largest single train refinery, Nasarawa state governor spills the beans     Nassarawa state Governor, Abdullahi Sule, has said that the government of ex-President Muhammadu Buhari spent more than the $19 billion to maintain Nigeria’s refineries in eight years. Mallam Mele Kyari and late Maikanti Baru held sway as the Group Managing Directors of the Nigerian National Petroleum Company Limited (NNPCL) during the eight years. Kyari, at different fora told journalists that Buhari never…

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