Fire disasters associated with the impairment of petroleum product facilities have more or less become a recurring decimal in Ijegun community, Lagos State. While some were accidental, a lot more were self-inflicted and patently avoidable. The incident that happened in the same area few days ago reportedly culminated in the loss of lives. Twenty-one…
With a promise to reactivate all four refineries before the expiration of President Muhammadu Buhari’s administration in 2023, Mele Kyari yesterday took the baton from Dr. Makanti Baru as the Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC). He also pledged his readiness to work towards the delivery of the Dangote…
The Special Presidential Investigation Panel for the Recovery of Public Property says an oil giant, Mobil Producing Nigeria Unlimited (ExxonMobil), is indebted to the Federal Government to the tune of $1.6bn, The PUNCH reported. The money translates to about N684bn at N360 to $1 exchange rate. According to the panel, which is led by…
President Muhammadu Buhari has met the new Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Kolo Kyari, at the Presidential Villa, Abuja. Mr Kyari was accompanied to the meeting on Tuesday by his predecessor, Maikanti Baru. Mr Buhari met with the duo around 11.30am in his office. Kyari formally took over…
THE Department Of Petroleum Resources (DPR) on Thursday sealed two Liquefied Petroleum Gas (LPG) stations in Lagos safety reasons. The first was Petrocam in Ayobo, Alimosho Local Goverment Area of Lagos. It was totally sealed by DPR officials for allegedly operating without approval; operating in a residential area, and in a building under direct high…
Major Oil Marketers Association of Nigeria (MOMAN) says total deregulation of downstream oil sub-sector remains best option for Nigeria. Mr Tunji Oyebanji, MOMAN Chairman, made this known in an interview with source on Sunday on the sideline of the Nigerian Oil and Gas Conference held in Abuja, Nigeria’s capital. According to him, marketers don’t get foreign exchange at…
The 19th Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Melee Kolo Kyari, takes over from his predecessor, Maikanti Baru, who retired from the service of the corporation on July 7 after attaining the statutory 60 years retirement age. Until his appointment, Mr Kyari was Group General Manager, Crude Oil Marketing Division of the NNPC….
The World Bank allocated $151 million in funding to Tunisia to assist in the process of diversifying its sources of electricity. The funds granted in the form of a loan will make it possible to produce clean and less expensive energy, with the establishment of renewable energy plants by private energy companies in the country….
There are indications that the Federal Government may be compelled to give indigenous oil and gas companies wishing to bid for the stake of the Nigerian National Petroleum Corporation in some International Oil Companies (IOCs) the first right of refusal. Some of the indigenous oil companies who spoke to Daily Sun in separate interviews on the…
Four power distribution companies in the country grew their revenue by $162m (N49.57bn at the official exchange rate of N306 to a dollar) after the intervention of the United States Agency for International Development through the Power Africa Transactions and Reform Project. It was gathered that the United States agency’s support to the four Discos…
