BudgIT queries NNPC’s manner of managing N1.4tn yearly subsidy in 36 months
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…
Fuel scarcity to remain until oil prices come down to $50 or less—Expert
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…
Fuel scarcity still frustrating Nigeria cities, businesses—BH Report
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…
Motorists along Badagry Expressway cry out to DPR over fuel hoarding ring
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…
Fuel Scarcity bites harder as motorists expect ease before weekend
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…
New tank farm on Creek Road, Apapa’ll suffocate the axis more—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…
Fear of uprising over winners in marginal field bid round delaying scheme
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…
Only Dangote, Ibeno refineries making progress out of 50 licencees—DPR
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…
FG to further crash oil production cost from $23 to $15 per barrel –Minister
…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…
Seplat, other indigenous oil players spend over $10.4bn acquiring divested assets
Leading drivers of Nigeria’s local content in oil and gas industry have given testimonies showing how their smartness in acquiring majority of divested infrastructures and assets by International Oil Companies (IOCs) lifted their enterprises. Business Hilights recalls that since a…
