Nipco launches $16m offer for Mobil Oil shares to take stake to 70%

Nipco Plc has launched a 4.84 billion naira ($16 mln) offer for the shares it needs to take its stake in Mobil Oil to...

Prices of petroleum products high in May

Average price paid by consumers for Premium Motor Spirit (PMS) also known as petrol, increased by 0.5 per cent month-on-month from N149.9 in April...

Indonesian firm to build 10,000 bpd refinery in Akwa Ibom

The Federal Government’s plan to attract investment in modular refineries as part of efforts to boost local refining capacity has started gaining momentum with...

Nigeria spends $28bn annually on petrol importation – Kachikwu

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said that Nigeria allocates an average of $28 billion of her foreign exchange...

Downstream oil pipeline vandalism dropped by 12% in April – NNPC

The extensive engagement with oil and gas community stakeholders embarked upon by the Federal Government and the Nigerian National Petroleum Corporation, NNPC has continued...

Kachikwu outlines three-pronged strategy to end fuel importation by 2019

To achieve the President Muhammadu Buhari led administration’s target of meeting the nation’s needs and end the importation of petroleum products by 2019 which...

NNPC crashes diesel price nationwide by 42%

Price of Automotive Gas Oil (AGO), also known as Diesel, has crashed to about 42% nationwide, a huge downslide over the last six months,...

FG, states, communities to acquire stakes in modular refineries – Osinbajo

Speaking at the 2017 African Modular Refinery Discussion organised in Abuja by the Modular Refineries Association of Nigeria, Acting President Yemi Osinbajo, blamed the federal...

Cooking gas price up by 31.96% in May 2017 – NBS

The average price for the re filling of a 5kg cylinder of Liquefied Petroleum Gas, otherwise known as cooking gas, increased by 0.75 per...

FG rules out total deregulation of downstream oil sector

The Federal Government on Thursday announced that it had ruled out the total deregulation of the downstream oil and gas sector so as not...

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