Seplat Petroleum Development Company Plc, a leading Nigerian independent oil and gas company listed on both the Nigerian Stock Exchange and London Stock Exchange, will remain very profitable even at lower oil prices given its low production costs and strong investments in gas. The Chief Executive Officer of the company, Mr. Austin Avuru, said this…
The Independent Petroleum Marketers Association of Nigeria (IPMAN) on Monday lauded the Federal Government for lifting the ban placed on the supply of petroleum products to border communities across the country. IPMAN’s President, Mr Chinedu Okoronkwo, told the News Agency of Nigeria (NAN) in Lagos that the lifting of the ban was a huge relief…
The Department of Petroleum Resources (DPR), Warri Zonal Office, has warned petroleum marketers against hoarding the product. The Operations Controller, DPR, Warri office, Engr. Antai Asuquo gave the warning during a surveillance by the regulatory agency on Monday in Warri. Recall that the Federal Government had on Wednesday reviewed downward the pump price of petroleum…
MTN Nigeria on Sunday said its team would start working from home as part of the precautionary measures to stop the spread of COVID-19 Mr Funso Aina, the telcos Senior Manager, External Relations, said in a statement that from March 23, workers are expected to perform their duties from home. Aina said that the telcos…
…Records N337.63b products sales The Nigerian National Petroleum Corporation (NNPC) has announced an increased trading surplus of ₦5.28billion in its December 2019 operations compared to the ₦3.95billion surplus posted in November last year. A release Sunday in Abuja by the corporation’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, explained that details of…
The organisers of the upcoming 5th Nigeria Energy Forum (NEF) on Sunday said the Forum’s conference had been postponed until Sept. 9 and 10, in the interest of public safety and health. Mr Adekunle Makinde, the General Co-Chair of NEF 2020 in a statement in Lagos said that the decision was reached after an extensive…
Fuel stations at the outskirt of the Federal Capital Territory (FCT) were yet to comply with the N125 new pump price for Premium Motor Spirit (PMS) also known as petrol. A correspondent who went round Abuja on Sunday reports that while most stations at the city centre had complied with the new pump price, those…
Petrol marketers in Badagry, a coastal town in Lagos State, are still selling petrol at the old price of N145 per litre, two days after the Federal Government announced its reduction to N125. TBI Africa Correspondent, who monitored many filling stations in the town and its environs, reports that marketers were selling the products at…
Filling stations across Lagos State have started effecting the new N125 per litre pump price regime for Premium Motor Spirit (PMS) which was approved by President Muhammadu Buhari on March 18. TBI Africa Correspondent who monitored the situation on Friday morning at Ikeja, Fadeyi, Abule Egba, Onipan, Surulere, Ebute Metta and Yaba areas observed that…
NEC report slams firms The recapitalisation of electricity Distribution Companies (DisCos) and a firm implementation of industry rules are some of the measures that will turn the power sector around, a report submitted to the National Economic Council (NEC) recommended. The Mallam Nasir El-Rufai-led ad-hoc Committee on the Review of the Ownership Structure of the…