The Nigerian National Petroleum Corporation (NNPC) Wednesday said it would raise the level of current petrol stock from 45 to 50 days, stating that this should provide adequate supply buffer for the country going into the impending Christmas and New Year season. A statement from the Group General Manager Public Affairs of the NNPC, Mr….
At the just concluded 36th international conference and exhibition hosted by the Nigeria Association of Petroleum Explorationists (NAPE), the managing director and chief executive officer of Total exploration and production, Mr. Nicolas Terraz, said the Nigerian oil and gas industry has come a long way with new experiences and competencies and the industry has also…
The Managing Director of the Petroleum Products Marketing Company (PPMC), a subsidiary of the NNPC, Mr. Umar Ajiya says the company has stocked-in products in the nine Inland depots, including Enugu and Aba and will commence selling by 1st December, 2018. The MD said the move was geared towards forestalling frequent shortages being experienced during…
Domestic gas consumption in Nigeria has witnessed a recent increase from 390,000 to 490,000 metric tons with a potential of hitting 500,000 milestone in the near future. This was disclosed by Dr Folashade Yemi-Esan, the Permanent Secretary, Ministry of Petroleum Resources in Calabar on Tuesday while delivering a speech at the Technical Meeting of Officers…
The Petroleum Technology Association of Nigeria (PETAN) will host Governor Nyesom Wike at PETAN 2018 Dinner/Award night in Port Harcourt, Rivers State. In a press statement signed by PETAN Publicity Secretary, Mr. Ranti Omole, it was stated that Governor Wike will be the Special Guest of Honour at the Dinner/Award night, with the theme: “Forging Ties, Driving Growth Stability Through…
Dr Emeka Okwuosa, Managing Director Oilserv Nig Ltd has urged Federal government to start putting measures in place to avert the projected Nigeria population explosion in 2050. Okwuosa said this in Nsukka on Thursday while delivering the 48th University of Nigeria Nsukka convocation lecture titled “Infrastructural Development :A Key to Economic Growth and Development In…
To stem cross border leakages and forestall attendant products price hikes, Managing Director of the Petroleum Products Marketing Company (PPMC), Mr. Umar Ajiya, has enjoined Major Marketers Association of Nigeria (MOMAN) to regulate the volumes of petroleum products dispatched to their members’ affiliate stations close to the country’s borders. Mr. Ajiya, who spoke during an…
About 250 rural communities across Nigeria would soon be connected to stable electricity generated from solar based facilities, the Rural Electrification Agency (REA) has disclosed. The REA which revealed this recently, noted that this would be undertaken under its new initiative – the Nigeria Electrification Project (NEP). It explained 250 rural communities across Nigeria had…
Nigeria’s lost a total $467 million in July due to shut-in of production from leaking pipelines carrying crude oil from wells to flow stations in the Niger Delta, where more than 90 percent of the country’s crude are explored. The loss comes from 6.29 million barrels of crude oil that the Nigerian National Petroleum Corporation…
The Nigerian National Petroleum Corporation’s (NNPC) deductions from crude oil sales revenue for petrol subsidies in the first three months of 2018 alone exceeded the deductions for the whole of 2017, a report by the World Bank has revealed. Specifically, the Bank in report titled: “Nigeria Bi-annual Economic Update for Fall 2018,” disclosed that while…