Echoes from Crippled Petroleum Depots

While stakeholders in Nigeria’s oil industry have openly supported the total deregulation of the downstream sector, citing the move as a catalyst for growth and optimization of the entire downstream value chain, some of their counterparts, especia

Editor Wed, 07/19/2017 - 21:17
Oando, NAOC, NNPC express commitment to rehabilitate refineries

Three stakeholders – Oando PLC, Nigerian Agip Oil Company, and Nigerian National Petroleum Company (NNPC) – have expressed commitment towards the rehabilitation of the nation’s refineries.

Editor Tue, 07/18/2017 - 09:27
Oando's shares shed 10% over regulatory investigation

Shares in Nigerian oil company Oando fell close to a one-month low on Monday on news that regulators were investigating the firm's shareholding structure following its $1.65 billion acquisition of ConocoPhillips' Nigerian business.

Editor Tue, 07/18/2017 - 09:19
OPEC’s Oil Cut Compliance dips to 6-month low- IEA

The Organization of the Petroleum Exporting Countries, OPEC’s compliance with production cuts fell in June to its lowest levels in six months as several members pumped much more oil than allowed by their supply deal, thus delaying market rebalanci

Editor Tue, 07/18/2017 - 08:57
Tank Farm Fire: NNPC Allays Fears of Scarcity

The Nigerian National Petroleum Corporation (NNPC) has advised consumers of Petroleum products across the country not to engage in panic buying as a result of the fire incident which occurred in the wee hours of Saturday July 15 at a tank farm at

Editor Tue, 07/18/2017 - 07:49
Agusto & Co, GCR assign Forte Oil Investment Grade Ratings

Foremost ratings and research agencies, Agusto & Co. and Global Credit Rating Co. (GCR), have affirmed Forte Oil Plc investment grade rating.

Editor Mon, 07/17/2017 - 09:30
NNPC Refineries Hit 60% Supply of Domestic Kerosene Consumption

Ahead of the 2019 target date for the cessation of petroleum products importation by the Federal Government, the Nigerian National Petroleum Corporation (NNPC) has announced that its three refineries in Port Harcourt, Warri and Kaduna now supplied

Editor Sun, 07/16/2017 - 08:15
Import differentials cost Nigeria's Downstream N884.8m weekly

The Nigeria’s downstream petroleum industry lost about N884.8 million in seven days to the high cost of importing Premium Motor Spirit (PMS), also known as petrol, resulting from a differential of N3.16 per litre.

admin Fri, 07/14/2017 - 09:08
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