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Tag Archives: Department of Petroleum Resources (DPR)

BudgIT queries NNPC’s manner of managing N1.4tn yearly subsidy in 36 months

NNPC 101

Leading Information Technology (IT) group, BudgIT has raised questions on why the federal government, through the Nigerian National Petroleum Corporation (NNPC) has not been able to give concise details on the amount so far spent on subsidy in 2016, 2017 and the first quarter of 2018. In a statement issued in Lagos, the group’s Communications Lead, Abiola Afolabi, said “it ...

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Okebugwu explains how to set up LPG Skid plant to serve a target city, community

Sargas Skid Plant

Chief executive officer of Sargas Energy Limited, Mr. Okebugwu Ikechukwu Williams, has explained cheap and sustainable ways of investing in retail marketing of Liquefied Petroleum Gas (LPG) in any part of Nigeria. It would be recalled that Nigeria is among the nations with the highest reserve of LPG across the world and the lead in Africa, but over 90 per ...

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Fuel scarcity to remain until oil prices come down to $50 or less—Expert

Osinbajo dispensing fuel

Leading energy analyst, Engineer Abiodun Adewale has argued that so far the nation’s refineries are not yet delivering at full capacity so as to saturate the country with local products, importation of products when crude price is above a certain threshold will continue to mean high landing cost which defines either continued fuel scarcity or higher pump price. He told ...

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Fuel scarcity still frustrating Nigeria cities, businesses—BH Report

NNPC 101

The fuel scarcity that roared its head since early December last year is still persisting in parts of the country even though the government and industry players are maintaining silence. This is the high point of the weekly report of the Business Hilights Intelligence Unit (BHIU), released in Lagos on Sunday. According to the report, “The federal government is yet ...

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Motorists along Badagry Expressway cry out to DPR over fuel hoarding ring

DPR Sealing Filling Station

Just as the Department of Petroleum Resources (DPR), are intensifying its shut down of filling stations in Ibeju Lekki and Epe in Lagos for hoarding fuel and selling above pump price, motorists and residents within Abule-Osun and Volkswagen axis along Badagry Expressway have called for their rescue from shylock filling stations operators. Motorists who spoke to journalists said while they ...

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Fuel Scarcity bites harder as motorists expect ease before weekend

NNPC 101

Since the sudden resurfacing of fuel scarcity last week, many motorists have continued to develop several conspiracy theories as the cause of the scourge. Whereas major marketers argue that the Nigerian National Petroleum Corporation (NNPC) is being economical with words on the actual ex-depot price, the situation will not improve. Marketers had for long been saying that NNPC depots are ...

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New tank farm on Creek Road, Apapa’ll suffocate the axis more—STOAN

Haastrup STOAN

The recent granting of approval by the federal government and the Department of Petroleum Resources (DPR), in particular has been described as ill-timed, ill-advised and negative to the already stressful life and business in the axis. Chairperson of the Seaport Terminal Operators Association of Nigeria (STOAN), Princess Vicky Haastrup in an interview, viewed the development as against run of play ...

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Fear of uprising over winners in marginal field bid round delaying scheme

militants-and-buhari

Key reason on why there is palpable uncertainty over the timeframe for the country’s next marginal field bid round, has been unveiled. Findings by Business Hilights showed that the interested top government officials and officials of the Department of Petroleum Resources (DPR) are yet to finalise any framework on time due to the trending high tension anchored on marginalization and ...

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Only Dangote, Ibeno refineries making progress out of 50 licencees—DPR

nnpc-boss

Contrary to news making the rounds that Nigeria may soon become net exporter of refined petroleum products due to growing number of private refineries springing up here and there, only two out of 50 licencess can be said to be truly serious. Details sourced from the official website of the Department of Petroleum Resources (DPR) showed that out of the ...

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FG to further crash oil production cost from $23 to $15 per barrel –Minister

Ibe Kachikwu

…Says only 2 out of 40 refinery licencees serious Whereas stakeholders’ in Nigeria’s oil and gas sector have continued to have reservations on the authenticity of oil production statistics being churned out by officials of the ministry of petroleum from time to time, the Minister of Petroleum Resources, Dr Ibe Kachikwu, in Lagos on Thursday, again said government is working ...

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