Cuba Implements Drastic 500% Fuel Price Surge: Economic Measures Unveiled to Tackle Crisis In a bid to address its economic woes, the cash-strapped Cuban government has announced a substantial hike of over 500 percent in fuel prices, effective February 1. The Minister of Finance and Prices, Vladimir Regueiro, revealed that regular gasoline prices will surge…
Dangote Refinery Readies for Production: Sixth Batch of Crude Oil Barrels Received from NNPCL Signals Operation Kick-off Dangote Refinery is gearing up for the production of refined petroleum products with the recent receipt of its sixth batch of crude oil barrels from the Nigeria National Petroleum Corporation Limited (NNPCL). This fresh delivery of one million…
New NCDMB Boss Visits NUPRC, NIACOM, Outlines Collaboration Opportunities
Fresh Oil Spill from NNPC Pipeline in Niger Delta A fresh oil spill from a pipeline operated by the NNPC Ltd has rocked K-Dere community in Gokana Local Government Area of Rivers State, devastating the environment and inflicting damage on the livelihood of the people in the area. The oil spill, which occurred five days…
Niger Delta: IYC President Calls for Increased Funding of Presidential Amnesty Programme President of the Ijaw Youth Council (IYC) Jonathan Lokpobiri, has advocated for an upward review of the allocation accruable to the Presidential Amnesty Programme (PAP) from the Federal Government’s purse. Lokpobiri who made this patriotic call on Monday in Abuja while on a…
Angola Quit OPEC to Sustain Oil Production above 1mb/D Angola quit OPEC because its quota limits hindered the country’s plans to stabilize crude production above 1 million barrels per day, mb/d, according to the country’s top oil official. The African nation’s December exit from OPEC came after the group imposed a much lower production limit….
President Tinubu Felicitates NNPCL GCEO, Mele Kyari, on Birthday President Bola Tinubu felicitates the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mallam Mele Kyari, as he marks his birthday on January 8. The President commends the diligence, passion, and expertise the foremost geologist brings to tasks as one of the…
Shell Flags Q4 Write-down of $4.5bn, Mainly on Singapore Assets Shell (SHEL.L) on Monday flagged impairment charges of about $2.5 billion to $4.5 billion for the fourth quarter, mainly related to the Singapore refining and chemicals hub the oil major is looking to sell. The assets include a 237,000 barrels per day (bpd) refinery and…
Nigeria Central Bank Pays Nearly $2bn towards FX Backlog Nigeria’s central bank has paid nearly $2 billion in outstanding foreign exchange forwards in the last three months in a bid to clear a backlog of dollars, a spokesperson has said, but forex shortages continue to hobble the country’s naira currency. Africa’s biggest economy has nearly…
HYPREP says it is Committed to Timely Implementation of UNEP Report for Ogoni The Hydrocarbon Pollution Remediation Project, HYPREP, has assured that all the projects being carried out in Ogoniland as part of the implementation of UNEP Report, will be completed within stated timeframes, and deployed for benefit of the Ogoni public. These projects are,…