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The Managing director of Oando Plc, Wale Tinubu, on Tuesday said the Federal Government spent $5 billion on fuel subsidy in 2018. Tinubu made this known at the ongoing Oil and Gas Conference in Abuja, adding that politicians want the subsidy on crude oil products to continue at all cost. He however called for the deregulation of…
July 3, 2019
Oil slid below $66 a barrel on Thursday, pressured by concerns over whether the G20 summit will produce a breakthrough on trade and perceptions that supply is ample despite the prospect of continued OPEC curbs. U.S. President Donald Trump said on Wednesday a trade deal with Chinese President Xi Jinping was possible but he is…
June 27, 2019
More Nigerians will need to embrace the use of Liquefied Petroleum Gas (LPG), if the plan to reduce air pollution and further cut down on the carbon footprint coming from wood fuel must be actualized. This much formed the thrust of the discussion at a campaign commemorating the 2019 World Environment Day organized by…
June 19, 2019
Electricity Distribution Companies (DisCos) in Nigeria have called for creation of enabling environment to ensure cost recovery and further drive investments in the nation’s power sector. The Chief Executive Officer, Association of Nigerian Electricity Distributors (ANED) umbrella body of DisCos, Mr Azu Obiaya made the call at a Performance Improvement Plan (PIP) seminar in Abuja. The seminar…
June 19, 2019
Oil prices rose on Monday after Saudi Arabia said producer club OPEC and Russia were likely to keep withholding supplies, and in relief that the United States and Mexico averted a trade war that would have damaged the global economy. Front-month Brent crude futures, the international benchmark for oil prices, were at $63.71 at 0017…
June 10, 2019
The Department of Petroleum Resources (DPR) has revoked five Oil Mining Licences (OML) and one Oil Prospecting Licence (OPL) belonging to five companies. In a public notice issued on Thursday by the regulatory body, the revocation was based on a presidential directive to “recover legacy debts” owed by the companies operating the licences. The five…
June 6, 2019
The National Bureau of Statistics (NBS) on Friday announced that 4.87 billion litres of Premium Motor Spirit (PMS), popularly known as petrol were imported into the country in the first quarter of this year. The NBS made the disclosure in its Petroleum Products Imports and Consumption (Truck Out) Statistics for First Quarter, 2019, posted on…
May 24, 2019
The Federal Government has said it will soon roll out a policy that would stop millions of consumers from owning Liquefied Petroleum Gas cylinders. It made this known yesterday at a stakeholders’ forum on LPG penetration in Abuja. Speaking at the forum, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, said the policy…
May 22, 2019
Nigeria Should Stop Playing Catch-up, Says 'Friends of the Earth Nigeria' In spite of the growing concerns around the world on how to cut down on the dangerous greenhouse gas emissions, the Nigerian Senate on Wednesday rejected a bill that sought to phase out the use of petrol cars and introduce electric cars on Nigerian…
April 18, 2019
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The Managing director of Oando Plc, Wale Tinubu, on Tuesday said the Federal Government spent $5 billion on fuel subsidy in 2018. Tinubu made this known at the ongoing Oil and Gas Conference in Abuja, adding that politicians want the subsidy on crude oil products to continue at all cost. He however called for the deregulation of…
July 3, 2019
Oil slid below $66 a barrel on Thursday, pressured by concerns over whether the G20 summit will produce a breakthrough on trade and perceptions that supply is ample despite the prospect of continued OPEC curbs. U.S. President Donald Trump said on Wednesday a trade deal with Chinese President Xi Jinping was possible but he is…
June 27, 2019
More Nigerians will need to embrace the use of Liquefied Petroleum Gas (LPG), if the plan to reduce air pollution and further cut down on the carbon footprint coming from wood fuel must be actualized. This much formed the thrust of the discussion at a campaign commemorating the 2019 World Environment Day organized by…
June 19, 2019
Electricity Distribution Companies (DisCos) in Nigeria have called for creation of enabling environment to ensure cost recovery and further drive investments in the nation’s power sector. The Chief Executive Officer, Association of Nigerian Electricity Distributors (ANED) umbrella body of DisCos, Mr Azu Obiaya made the call at a Performance Improvement Plan (PIP) seminar in Abuja. The seminar…
June 19, 2019
Oil prices rose on Monday after Saudi Arabia said producer club OPEC and Russia were likely to keep withholding supplies, and in relief that the United States and Mexico averted a trade war that would have damaged the global economy. Front-month Brent crude futures, the international benchmark for oil prices, were at $63.71 at 0017…
June 10, 2019
The Department of Petroleum Resources (DPR) has revoked five Oil Mining Licences (OML) and one Oil Prospecting Licence (OPL) belonging to five companies. In a public notice issued on Thursday by the regulatory body, the revocation was based on a presidential directive to “recover legacy debts” owed by the companies operating the licences. The five…
June 6, 2019
The National Bureau of Statistics (NBS) on Friday announced that 4.87 billion litres of Premium Motor Spirit (PMS), popularly known as petrol were imported into the country in the first quarter of this year. The NBS made the disclosure in its Petroleum Products Imports and Consumption (Truck Out) Statistics for First Quarter, 2019, posted on…
May 24, 2019
The Federal Government has said it will soon roll out a policy that would stop millions of consumers from owning Liquefied Petroleum Gas cylinders. It made this known yesterday at a stakeholders’ forum on LPG penetration in Abuja. Speaking at the forum, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, said the policy…
May 22, 2019
Nigeria Should Stop Playing Catch-up, Says 'Friends of the Earth Nigeria' In spite of the growing concerns around the world on how to cut down on the dangerous greenhouse gas emissions, the Nigerian Senate on Wednesday rejected a bill that sought to phase out the use of petrol cars and introduce electric cars on Nigerian…
April 18, 2019
