Reps to Probe Fuel Subsidy from 1999-2023 The Chairman, House of Representatives Committee on Petroleum Resources (Downstream), Ikeagwuonu Ugochinyere, has vowed on behalf of the Committee to conduct a comprehensive audit of the petrol subsidy regime from 1999-2023. Speaking at the inaugural meeting of the Committee in Abuja on Friday, Ugochinyere said the implementation of…
OPDS Intercepts Vessel with 300,000 Litres of AGO in Rivers The Joint Task Force operating the Niger Delta, codenamed Operation Delta Safe, OPDS, has arrested an oil tanker, MV Mother Mary, with 300,000 litres of suspected illegally refined Automotive Gasoline Oil, commonly known as diesel, in Rivers State. OPDS Commander, Rear Adm. Olusegun Ferreira, said…
Ministerial Panel to Unlock Regional Energy Potential at MSGBC 2023 …MSGBC Oil, Gas & Power 2023 – which is organized by Energy Capital & Power will open with a ministerial panel that will exchange insights and champion best practices in the regional energy sector The MSGBC Oil, Gas & Power 2023 conference and exhibition…
NNPCL Uncovered Over 150 Illegal Pipelines, Destroyed 172 Unapproved Refineries in One Month The Nigerian National Petroleum Company Limited (NNPCL), has continue to record significant milestone in its fight against crude oil theft and pipeline vandalism as it destroyed 172 illegal refineries and uncovered 150 illegal connections. The National Oil company, recorded this feat between…
NCDMB Boss Commissions Genesis Academy, Lauds Firm for Creating 2500 Jobs The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote, on Thursday commissioned the corporate Head Office and Training Academy of the hospitality conglomerate, Genesis Group Limited, in Port Harcourt, Rivers State. The NCDMB boss lauded the firm…
NUPRC slams $10,000 fine on crude producers who default on feedstock supply To ensure that local refineries get adequate and regular supplies of crude oil, Nigeria’s upstream regulator, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said it will enforce provisions of the Petroleum Industry Act (PIA) to compel crude oil producers to guarantee supply…
Ex-President of NGA Joe-Ezigbo, Emenike Honoured at Gas Investment Forum The former President of the Nigerian Gas Association (NGA), Audrey Joe-Ezigbo, has been awarded the Gas Investment Leader of the Year. Joe-Ezigbo who is the Deputy Managing Director of Falcon Corporations was awarded at the Gas Investment Forum 2023. Her company – Falcon Corporations – …
NCDMB Commissions MG VOWGAS’s New Facilities, Reiterates Benefits of Local Content The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote on Tuesday commissioned MG VOWGAS’ newly installed 200-ton heat treatment furnace and state-of-the-art dish head forming machine at the company’s yard in Port Harcourt, Rivers State. Speaking at the…
Israel and Interest Rates Keep Oil Prices Erratic The war in the Middle East could push crude oil prices to $150 per barrel if it spreads across the region, the World Bank warned this week. Meanwhile, traders—worried about the effect of high interest rates on oil consumption—sparked a sell-off last week, extending a selling streak…
Kuwait’s October Fuel Oil Exports Drop by a Third from Record in September Kuwait’s October fuel oil exports tumbled more than 30% after hitting a record high in September as some supply was diverted to domestic power generation, according to trade sources, analysts and ship-tracking data. Exports fell to 490,000 metric tons (104,000 barrels…
