Category: Oil & Gas

….says over 1.5B Litres of PMS is available From Lateef Taiwo The House of Representatives Committees on Petroleum Resources, Downstream and Midstream have assured Nigerians that the ongoing queue arising from scarcity of Premium Motor Spirit, PMS, or petrol will disappear in few days. The Chairman, House of Representatives Committee on Downstream and Midstream, led…

From Lateef Taiwo As part of efforts to further sanitise mining sector, the federal government on Wednesday announced the revocation 924 dormant licenses spanning exploration, mining, and quarrying Licenses. Making the announcement at a press conference, the Minister of Solid Minerals Development, Dr Dele Alake declared that in line with constitutional provisions, adequate notice was…

From Lateef Taiwo The Edo Refinery has received a total of 15,000 barrels of crude oil in 2024 for production from the Oza Oil Field operated by Decklar Resources Inc. and its co-venturer, Millennium Oil & Gas Company Limited. The Chief Executive Officer of Decklar Resources, Sanmi Famuyide, who disclosed this in a statement, noted…

By Milcah Tanimu According to the National Bureau of Statistics (NBS), the average retail price of kerosene per litre rose from N1,329 in January 2024 to N1,340 in February 2024. This represents a 0.86% increase compared to the previous month. The NBS released its Petrol Price Watch for February 2024, revealing that the average price…

By Milcah Tanimu The Organisation of Petroleum Exporting Countries (OPEC) has announced an increase in crude oil production, primarily driven by Nigeria and Libya, while production in Iran and Iraq experienced a decline. According to OPEC’s Monthly Oil Market Report (MOMR) for March, total OPEC-12 crude oil production averaged 26.57 million barrels per day (mb/d)…

By Milcah Tanimu The Movement for the Sustainable Development of the Niger Delta (MSDND), a Niger Delta-based group, has thrown its support behind Former President Olusegun Obasanjo and prominent ex-Niger Delta warlords regarding the alarming rates of crude oil theft in the Niger Delta region and the urgent need for the Federal Government to address…

Stephen Olufemi Oni, Ilorin Operatives of the Ilorin Zonal Command of the Economic and Financial Crimes Commission, EFCC, on Sunday, February 18, 2024 arrested another two Chinese nationals for alleged offences bordering on illegal mining activities. They are Xiao Yi, 50, and Duan Yahong, 52. The two Chinese, according to an EFCC statement, were arrested…

The Shell Petroleum Development Company of Nigeria Limited (SPDC) has announced the successful completion of the supply of 475,000 barrels of crude oil to the Port Harcourt Refining Company Limited (PHRC). In line with the Federal Government’s commitment to enhancing domestic refining capacity and ensuring the availability of petroleum products within the country, SPDC facilitated…

From Lateef Taiwo Nigeria has broken new grounds in the global mining industry, clinching the chair of the newest mining pressure group, the Africa Minerals Strategy Group, AMSG. Nigeria’s Minister of Solid Minerals Development, Dr Dele Alake was unanimously elected the pioneer chairman of the group. Speaking at the signing of the resolution, Dr. Alake…

From Lateef Taiwo The Nigerian National Petroleum Company Limited, NNPC Ltd, has congratulated Temile Development Company, an indigenous player in the gas sector, on the commissioning of its 23,000 cubic meters ultra-modern Liquefied Petroleum Gas (LPG) Carrier in Ulsan, South Korea. According to the Group Chief Executive Officer, GCEO, of NNPC Ltd, Mallam Mele Kolo…