FG silent on revoking licences as Indonesian firm indicates interest to build refinery
More than two months after the federal government warned that it will soon begin the revocation of private oil refinery licenses issued by previous administration to about 14 companies, nothing has been heard. However, an Indonesian firm, PT Intim Perkasa…
After ‘No Case’ submission by DSS, Capital Oil boss, Ubah freed
…Lawyers may persuade him to sue for unlawful detention After weeks in detention, the managing director of Capital Oil and Gas Limited, Dr. Ifeanyi Ubah, has been released by the Department of State Security (DSS). Whereas earlier speculation by the…
Adeosun frustrating Osinbajo’s order to offset subsidy arrears to marketers, banks
A showdown coming from banks and independent marketers may be underway if the Minister of Finance, Mrs. Kemi Adeosun continues to delay the payment of over N800bn that accrued to petroleum marketers between 2014 and 2017. This is coming on…
New rule on cleaner fuel by July may spark off pump price hike soon—Survey
The chances of the Nigerian National Petroleum Corporation (NNPC) to begin to import less sulphur content come July, the agreed terminal date for end of dirty fuel are looking very slim considering paucity of fund which may force it to…
N264bn spent in ‘maintaining’ 4 refineries in 16 years, but nothing to show for it—Report
New report released in Abuja has revealed that contrary to earlier claims that the four refineries were not maintained within the 16 years of former ruling party, about N264 billion was expended on them but they suffered epilepsy due to…
‘FG’s expected decision on fuel price, electricity tariff’ll decide recession exit’
Though there has been pockets of pronouncements that Nigeria is on way out of recession, there are, however, indications that the much anticipated recovery may be hindered by a combination government’s decision on fuel price and electricity tariff amongst other…
How far can NNPC go in being sole importer of petroleum products?
Considering what they described as being shut out of business by non recalibration of pricing templates, most oil marketers have stopped fuel importation. Other reasons adduced for their action include shortage of foreign exchange and increase in crude prices, which…
3 refineries now produce over 12m litres of PMS, AGO daily—NNPC boss, Baru
Recently concluded repairs and maintenance at the hitherto moribund refineries in Warri, Port Harcourt and Kaduna have started yielding results. The trio now about 12 million litres of Premium Motor Spirit, otherwise known as petrol, and Automotive Gas Oil, popularly…
NNPC opens up on power investment, partners Chevron, Total for two power plants
The managing Director of Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru revealed that the corporation is set to expand its interest in power generation. This is coming days after the NNPC gave signals of divesting much of its communications…
