The Liquefied Petroleum Gas Retailers Association (LPGAR) has called on the federal government to establish more local LPG production plants, and encourage storage and transportation of the product to avert a price hike. The association’s branch national chairman, Ayobami Olarinoye, made the remarks in an interview with the News Agency of Nigeria (NAN) in Lagos Read More…
Nigeria LNG announced on Wednesday that the force majeure, initially declared in October due to extensive flooding causing supply disruptions, remains in effect. Force majeure denotes unforeseen external circumstances that hinder a contracting party from fulfilling its obligations. “The force majeure still stands due to the continued unavailability of upstream gas suppliers’ primary liquids evacuation Read More…
In order to proceed with the blocked sale of its shallow water oil production activities in Nigeria, Exxon Mobil Corp hopes to obtain the government’s approval, a top Exxon executive told Reuters. Exxon Global Upstream President Liam Mallon announced this ahead of the CERAweek energy conference by S&P Global, which will begin on Monday in Read More…
The Chief Executive of Nigeria’s petroleum regulator, the Nigeria Upstream Petroleum Regulatory Commission (NUPRC), announced in a statement that 139 companies have been shortlisted for the next phase of the nation’s commercialisation programme for gas flaring as part of efforts to minimise carbon emissions. The commercialisation of gas burned from Nigeria’s oil fields is planned, Read More…
The Independent Petroleum Marketers Association of Nigeria (IPMAN) on Thursday stated its members would not embark on a nationwide strike as being predicted. In an interview with newsmen in Lagos, Mr. Mike Osatuyi, IPMAN’s National Operations Controller, provided the assurance. It was vital, according to Osatuyi, to refute the claim that lPMAN members intended to Read More…
In a case that has delayed the corporation’s sale of its onshore assets, Nigeria’s Supreme Court on Friday permitted Shell Plc’s local business to appeal a decision ordering the company to pay $1.8 billion in damages for an alleged leak. Until the court issued a decision regarding an appeal filed by its subsidiary Shell Petroleum Read More…
The lead director of the Centre for Social Justice (CSJ), Mr. Eze Onyekpere, has demanded that Nigerian subsidies be gradually eliminated. At the Public Policy Dialogue and Unveiling of Partnership for Amplified Voices (PAV) in Abuja, Onyekpere made the announcement. The director stated it was time for drastic action to be taken on subsidy. The Read More…
Nigeria aims to stop importing petroleum products before or around the third quarter of 2023, according to oil minister Timipre Sylva. Sylva stated that a rebuilt refinery in the oil-producing Niger Delta city of Port Harcourt will start providing 60,000 barrels per day of processed crude by the end of December. The minister also stated Read More…
In furtherance of its Corporate Social Responsibility, the Nigerian National Petroleum Company Ltd. (NNPC) and TotalEnergies Upstream Nigeria Ltd., operator of OML 130, and partners, inaugurated projects in seven states (CSR). The projects were launched in the states of Osun, Kwara, Imo, Enugu, Anambra, Benue, and Rivers, according to a statement made on Tuesday in Read More…
According to the National Bureau of Statistics (NBS), consumers spent N801.09 per litre on average for automotive gas oil (diesel) in October. In its “Diesel Price Watch” report for October 2022, the NBS noted that the average price had increased by 215.30% from the N254.07 per litre paid in September 2021. “Comparing the average price Read More…
