Oil & Gas - Page 2

Fuel Price Hike Looms As Global Crude Nears $80/barrel- Experts Warn

The possibility of a fuel price hike looms as the price of Brent crude oil, the global benchmark, surged to $79.76 per barrel on Sunday. This increase, up from $72.88 in December

Emmanuel Ochayi

2 weeks ago

Business·Latest News·Oil & Gas

NNPCL Diverted N2.68tn, $9.77m, Ignored Probes – Report

The Nigerian National Petroleum Company Limited (NNPCL) has been accused by the Auditor-General of diverting N2.68 trillion and $9.77 million over four years. According to the Auditor-General’s reports from 2017 to 2021,

Emmanuel Ochayi

2 weeks ago

Dangote Refinery Partners With Marketers For Weekly Supply Of 60 Million Litres Of Petrol

Business·Oil & Gas

Dangote Refinery Builds 6.3 Million Barrels Capacity Storage, Plans More Crude Import

Dangote Refinery has set out to build eight new storage tanks with a combined capacity of 6.3 million barrels of crude oil to store crude. This is as the 650,000-barrel-a-day capacity refinery

Victor Ezeja

2 weeks ago

Business·Latest News·Oil & Gas

Nigerian Navy Destroys 9 Illegal Refineries Sites, 35,000 Litres Of Crude Oil

The Nigerian Navy Forward Operating Base (FOB) in Igbokoda has taken decisive action against illegal refineries in the Obenla community, Ilaje Local Government Area of Ondo State. On January 6, 2025, naval

Emmanuel Ochayi

3 weeks ago

Business·Latest News·Oil & Gas

Why Some Fuel Stations Sell Above N1,000/Litre – Oil Marketers

Oil marketers have revealed that some fuel stations continue to sell petrol above N1,000 per litre because they are still selling off old stock purchased at a higher rate. According to the

Emmanuel Ochayi

3 weeks ago

Dangote Refinery: Revolution Or Restriction For Nigeria’s Oil Market?

Business·Oil & Gas

Dangote, Other New Refineries Alter Global Oil Trade System

Dangote refinery and other new ones that sprang up in different parts of the world in recent times, including pipeline systems, are said to have altered global oil trade dynamics. The 650,000

Victor Ezeja

3 weeks ago

Business·Latest News·Oil & Gas

Why Crude-for-Loan Deals Could Tie Nigeria’s Oil Production Until 2029

The Nigerian National Petroleum Company Limited (NNPCL) may continue servicing its crude-for-loan obligations until 2029 due to rising domestic demand for oil from local refineries. As Nigeria’s refining capacity expands, particularly with

Emmanuel Ochayi

3 weeks ago

SERAP Demands Accountability For N825bn, $2.5bn Refinery Repairs Fund From NNPCL

Business·Latest News·Oil & Gas

Account For ‘Missing’ N825b, $2.5b Refinery Funds, SERAP Tells NNPCL

The Socio-Economic Rights and Accountability Project (SERAP) has urged the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, to account for the missing N825 billion and

Emmanuel Ochayi

3 weeks ago

Nigerian Govt Should Privatize Refineries, Invest In CNG - Oil Marketers

Business·Latest News·Oil & Gas

Nigerian Govt Should Privatise Refineries, Invest In CNG – Oil Marketers

Oil marketers, under the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), have urged the Federal Government to privatise state-owned refineries to enhance efficiency and reduce government expenditure. In their 2024

Emmanuel Ochayi

3 weeks ago

Business·Latest News·Oil & Gas·World News

Global Oil Prices Rise By $74.80/barrel As Investors Eye China, U.S. Policies

Global oil prices showed a minor increase on the first trading day of 2025, reflecting cautious optimism among investors. Brent crude futures rose by 17 cents, reaching $74.80 per barrel by 0547

Emmanuel Ochayi

4 weeks ago

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Oil & Gas - Page 2

Fuel Price Hike Looms As Global Crude Nears $80/barrel- Experts Warn

NNPCL Diverted N2.68tn, $9.77m, Ignored Probes – Report

Dangote Refinery Builds 6.3 Million Barrels Capacity Storage, Plans More Crude Import

Nigerian Navy Destroys 9 Illegal Refineries Sites, 35,000 Litres Of Crude Oil

Why Some Fuel Stations Sell Above N1,000/Litre – Oil Marketers

Dangote, Other New Refineries Alter Global Oil Trade System

Why Crude-for-Loan Deals Could Tie Nigeria’s Oil Production Until 2029

Account For ‘Missing’ N825b, $2.5b Refinery Funds, SERAP Tells NNPCL

Nigerian Govt Should Privatise Refineries, Invest In CNG – Oil Marketers

Global Oil Prices Rise By $74.80/barrel As Investors Eye China, U.S. Policies

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