Category: Oil & Gas

Petrol Hits N180/litre, Worsens Fare Hike For Sallah Travellers

ADEOLA YUSUF

“We are being forced to either pay through our noses to travel or stay in one place to celebrate Ileya (Sallah)”   The plan by thousands of Nigerians to travel for Eid-el-Kabir Sallah Festival may be disrupted as the price of Premium Motor Spirit (PMS) also known as petrol hit N180 per litre in Lagos, and environs. Platforms Africa reports that the high price slammed on petrol by mostly members of Independent Petroleum Marketers Association of Nigeria (IPMAN) in Lagos, Ogun and other parts of the country has made transporters…

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Investors Kick As Minister Explains Benin, Ibadan, 3 Other Discos Takeover

Efe Wellington

What’s the implication of the receivership of the core investors in Kano, Benin, Kaduna and Ibadan Discos on power supply to customers? Aliyu answers this and other and-then-what questions about Fidelity bank loans and implication to electricity distribution, here   Minister of Power, Abubakar Aliyu, has declared that the power ministry has received a confirmation from the Bureau of Public Enterprises (BPE) and the Central Bank of Nigeria that they are exercising the rights of lenders to the core investors in Kano, Benin, Kaduna, and Ibadan, Port Harcourt electricity distribution…

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BREAKING: OPEC Scribe, Sanusi Barkindo, Is Dead

ADEOLA YUSUF

“He died at about 11pm yesterday, 5th July, 2022,” NNpC GMd, Mele kyari confirms Barkindo’s death in a tweet   The Secretary General of Organisation of Petroleum Exporting Countries (OPEC), Dr. Sanusi Barkindo, is dead. Platforms Africa reports that Mele Kyari, Group Managing Director of Nigerian National Petroleum Company (NNPC) Limited, a Nigeri-State-owned firm Barkindo once led, confirmed this on his verified Twitter handle. Though Kyari did not give details of Barkindo’s death, he extolled the virtues of the OPEC scribe. READ ALSO: EXCLUSIVE: Buhari Removes Ag Accountant-General 28 Days…

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NIPCO Urges Nigerian Government on 10m cylinders Procurement For Users

Abibat Babalola

Independent petroleum firm taps Into PIA To Deepen Petroleum Sector Investments Managing Director/Chief Executive Officer, Nigerian Independent Petroleum Company (NIPCO) Plc, Suresh Kumar, has urged the Nigerian Government to make good its promise to procure 10 million gas cylinders for the benefit of users across the country. Platforms Africa reports that Mr. Kumar, who disclosed this at the 18th Annual General Meeting of the company, in Abuja, maintained that the government’s plan to procure the cylinders to marketers for onward distribution to end-users will tremendously help the promotion of cleaner…

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How NNPC, Sahara JV Plots Cooking Gas Penetration Across W’Africa

ADEOLA YUSUF

Joint venture announces FID on sub-regional LPG jetties’ construction WAGL Energy Limited, a joint venture business operated by the Nigerian National Petroleum Company (NNPC) Limited and Sahara Group, is set to develop and construct jetties across West African countries to boost the supply and penetration of Liquefied Petroleum Gas (LPG) in the sub-region. Emmanuel Ubani, Managing Director, WAGL Energy Limited said discussions were already at advanced stages for the first in the lot. READ ALSO: Why Nigeria Cannot Introduce Subsidy On Diesel – NNPC All Nigeria’s Refineries Producing Zero Litre…

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NCDMB Partnering Shell, ExxonMobil, NAOC in Oil, Gas Parks – Wabote

ADEOLA YUSUF

Major international operating oil and gas companies, notably Shell Petroleum Development Company (SPDC) and Exxon Mobil Nigeria, and the Nigerian Agip Oil Company (NAOC) have made significant investments in support of the ongoing development of the Nigerian Oil and Gas Parks Scheme (NOGaPS), the Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr Simbi Kesiye Wabote has revealed. He stated this recently at the Nigerian Content Sensitization Programme for Law Enforcement Agencies, organised by the NCDMB in Yenagoa, Bayelsa State with a view to strengthening the existing collaboration with…

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Seplat, HEI Ink Critical Emergency Skills Deals for Young Nigerians

Abibat Babalola

Independent energy company, Seplat Energy Plc, has partnered with Health Emergency Initiative (HEI) to build the capacity of secondary school students on CPR and First Aid skills necessary to handle prehospital emergencies. Platforms Africa reports that over 30 secondary schools across the six district in Lagos benefited from the programme.. This initiative, according to a statement, became imperative with the growing anxiety about the high incidence of cardiovascular diseases (CVDs) such as heart attack, cardiac arrest, and the attendant fatalities among Nigerians in recent years. Similarly, the menace of Road…

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N74bn Bridging: You Lied, Marketers Confront NMDPRA, Threaten Scarcity

Ganiyu Amodu

IPMAN Mohammed Shuaibu challenged the NMDPRA Chief Executive, Farouk Ahmed, to reveal names of the marketers the government paid the N74 billion to as well as show documents to prove that.   Oil marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria (IPMAN) have threatened that Nigeria could witness the mother of all fuel queues from next week if the Federal Government does not pay the 12 months bridging claims being owed operators in the downstream oil sector. IPMAN which claimed it controls about 70% of the…

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Oil To Hit $200 Per Barrel Soon: SEB Group

Efe Wellington

“Why G7’s price capping proposal is a “recipe for disaster”   Oil prices are likely to soar past $200 per barrel if G7 manages to cap the price of Russian crude oil, according to chief commodities analyst at Swedish bank SEB Group. Bjarne Schieldrop, SEB analyst, said on Wednesday in no uncertain terms that the G7’s price capping proposal was a “recipe for disaster” given the current stress that the oil market is under. The G7 leaders agreed on Tuesday to study ways to cap the price of Russian oil…

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BREAKING: Bridging Payment To Fuel Marketers Hits N74bn in 7 Months

ADEOLA YUSUF

Here, according NMDPA, is the breakdown of how much MOMAN members, IPMAN members, NNPC Rwtails and DAPPMAN members collected.   Payment of bridging claims to fuel marketers in Nigeria has hit N74 billion in just seven months Platforms Africa reports that the Nigeeia Midstream and Downstream Petroleum Regulatory Authority (NMDPA), which declared this in a statement maintained that so far, the Authority paid N71,233,712,991 bridging claims and another N2,736,179,950.84 freight differentials to the Marketers as at 6th June, 2022. READ ALSO: BREAKING: Buhari Hikes Fuel Freight Rate, Worsens Subsidy Burden…

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