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Petrol retailers back NMDPRA on import license policy to drive down pump prices of product
Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has thrown its weight behind last month’s decision by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to issue import licences to six marketers. The group noted that increased competition among…
Petrol importation jumps by 59.5% in May, despite higher local output — NMDPRA
Despite issuing petrol import licenses to six firms in May, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said that last month’s spike in the importation of the product was due to strategic transformation in the energy sector. NMDPRA had,…
NMDPRA issues license to indigenous firm for 30, 000bpd capacity refinery in Rivers
Nigerian Midstream and Downstream Petroleum Regulatory Authorities (NMDPRA) has presented a License to Construct (LTC) to the Foster Petroleum Development Company Limited for the development of a 30,000 bpd (barrels per day) capacity refinery in Gokana, Rivers State. According to a…
TotalEnergies, NNPC renew emission mitigation partnership
TotalEnergies EP Nigeria Limited and Nigerian National Petroleum Company (NNPC) Limited have renewed their cooperation agreement on deployment of patent technology for emission detection and control at operated oilfield assets in Nigeria. The deal entails continued deployment of AUSEA technology,…
NUPRC sets 1.9mbpd oil target record May output
Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said Wednesday it is targeting crude oil production of 1.9 million barrels per day (mbpd) after output reached 1.86 mbpd in May. NUPRC Chief Executive Oritsemeyiwa Eyesan, who disclosed this during a courtesy visit…
FG dismisses IMF’s recommendation to introduce telecoms, petrol taxes in Nigeria
Federal Government says it has not adopted the International Monetary Fund (IMF) recommendation to the country to introduce petrol and telecommunications taxes in order to shore up revenue. Government also stated that it is not considering new taxes on telecommunications…
Time for African to achieve technical capability is now __NCDMB
The Executive Secretary of the Nigerian Content Development and Monitoring Board, Engr. Felix Ogbe, has called on African oil-producing nations to leverage the continent’s vast hydrocarbon resources to build indigenous technical capabilities for exploration, field development and production activities. Ogbe…
Elohor Aiboni appointed first Nigerian EVP, Chairman of Shell Companies in Nigeria
One of Nigeria’s most accomplished petroleum industry professionals, Mrs. Elohor Aiboni, has been appointed Executive Vice President and Chairman of Shell Companies in Nigeria (SciN), becoming the first Nigerian to occupy the combined leadership position in the energy giant’s operations…
FG to prioritise improved gas delivery to local consumers, targets sustained investment, others
Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has disclosed that the Federal Government is ramping up efforts to transform the country’s vast natural gas reserves into a powerful engine for industrial growth. This is also as the minister stated…
Strait of Hormuz to reopen by Friday, as oil prices drop to 3-month low over U.S, Iran peace deal
Following announcement by the United States President, Donald Trump, last weekend, that a deal to end the near-four month war with Iran is ‘all signed,’ crude oil prices took a huge tumble to as low as below the $80 mark. This…
