The Federal Government has officially increased the price of petrol by 8.8 per cent to N185 per litre, from N170 per litre. The ex-depot price also shot up from N148 per litre to N167. In a notice to fuel marketers, yesterday, the government directed that the new price should take immediate effect. It is reported… Continue reading FG increases petrol price to N185 per litre
Category: OIL AND GAS
Niger Delta Surveillance Job: Urhobo and Isoko Will Stand on Our Own- Niger-Delta Challengers _Ada Nkong
Engr Princess Tina Onojeghuo Coordinator Niger Delta Challengers Engr Tina onojeghuo the coordinator of the Niger Delta Challengers has said 80 percent of the oil and gas fields in Delta State belongs to the Urhobos and Isokos In a statement made available to our correspondent, Engr. Onojeghuo expressed satisfaction with the work done by the… Continue reading Niger Delta Surveillance Job: Urhobo and Isoko Will Stand on Our Own- Niger-Delta Challengers _Ada Nkong
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Increase in Fuel Price Imminent as Landing Costs Increase_Ada Nkong
As landing cost increases from N151 to N180 in response to increase in the price of crude oil in the international market, NNPC,IPMAN ,MOMAN and other stakeholders have met to decide on a new pump price for fuel. Indications are that the new price will be N190 . Crude oil prices rose fro. $58 to… Continue reading Increase in Fuel Price Imminent as Landing Costs Increase_Ada Nkong
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NNPC Raises Petroleum Pump Price to N155.17_Ada Nkong
The Petroleum Products Marketing Company, , has increased the ex-depot price of Premium Motor Spirit, also known as petrol, to N155.17 per litre from N147.67 per litre. This was disclosed in an internal memo with reference number PPMC/C/MK/003, dated November 11, 2020, and signed by Tijjani Ali. The memo, says the new ex-depot price is… Continue reading NNPC Raises Petroleum Pump Price to N155.17_Ada Nkong
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Crude oil production cost to be brought down to $10 per barrel-NNPC_Femi Ehiabhi
The NNPC said it is taking measures to bring down cost of crude oil production to 10 dollars per barrel or below. The Corporation’s Chief Operating Officer (COO), Ventures and Business Development, Mr Roland Ewubare, said this on a TV interview programme. He was merely restating a recent promise by the NNPC Group Managing Director,… Continue reading Crude oil production cost to be brought down to $10 per barrel-NNPC_Femi Ehiabhi
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FG Removes Fuel Price Cap, Gives Marketers Power to Fix Prices_Raphael Bichene
The Petroleum Products Pricing Regulatory Agency, PPPRA, has removed the cap on the price of Premium Motor Spirit (PMS), also known as petrol, giving marketers the freedom to fix the price of the commodity and sell above the price stipulated by it. The PPPRA, in a document released,on Thursday evening, titled, ‘Market Based Pricing Regime… Continue reading FG Removes Fuel Price Cap, Gives Marketers Power to Fix Prices_Raphael Bichene
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Nigeria to reduce oil production by 300,000 barrels per day_Femi Ehiabhi
The Minister of State for Petroleum Resources, Timipre Sylva, has indicated Nigeria would be reducing oil production by more than 300,000 barrels per day. This will be in line with the historic output cut agreed by OPEC+ on Sunday. The output cut was initially to be 10m barrels a day. It was however reduced to… Continue reading Nigeria to reduce oil production by 300,000 barrels per day_Femi Ehiabhi
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No OPEC Oil cut decision yet-Saudi Energy Minister_Femi Ehiabhi
OPEC hasn’t made a decision yet on whether to extend or modify its agreement to cut oil output, Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said. The Organization of Petroleum Exporting Countries and its allies are to meet next week in Vienna to assess their global cuts and output policy. Prince Abdulaziz is confident… Continue reading No OPEC Oil cut decision yet-Saudi Energy Minister_Femi Ehiabhi
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Oil Prices Fall As Market Weighs Virus Impact_Ehiabhi Femi
WTI and Brent crude oil prices finished lower for the third straight trading day. West Texas Intermediate (WTI) and Brent crude oil prices finished lower for the third straight trading day. The March WTI contract lost $1.15 Thursday to settle at $55.59 per barrel. It peaked at $56.27 and bottomed out at $54.77. March Brent… Continue reading Oil Prices Fall As Market Weighs Virus Impact_Ehiabhi Femi
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