Petroleum

Latest News on Petroleum
FG To Borrow $3 Billion Via Eurobonds In October
Buhari: Saudi Arabia Cuts Oil Production...

Buhari: Saudi Arabia Cuts Oil Production To Help Nigeria

President Muhammadu Buhari yesterday played host to the Saudi Arabian minister of Foreign Affairs at State House, Abuja, declaring that the oil rich kingdom had been quite kind to Nigeria. Receiving HRH Prince Faisal Bin Farhan Al-Saud, the President in a statement by presidential spokesman, Femi... read more »

FG Implements Cooking Gas Imports Tax, Price Jumps By 100%
FG Implements Cooking Gas Imports Tax, P...

FG Implements Cooking Gas Imports Tax, Price Jumps By 100%

The Federal Government has implemented a 7.5 per cent tax on imported Liquefied Petroleum Gas, popularly called cooking gas, as the cost of the commodity leap by over 100 per cent within a period of eight months. It was gathered on Sunday that the government implemented the VAT on LPG imports about... read more »

No Petrol Price Hike Until FG, Labour Conclude Negotiation – PPPRA
No Petrol Price Hike Until FG, Labour Co...

No Petrol Price Hike Until FG, Labour Conclude Negotiation – PPPRA

The Petroleum Products Pricing Regulatory Agency, PPPRA, has said restated that the Petroleum Industry Act had marked the full deregulation of the downstream oil sector. It added that the negotiations between the Federal Government and labour would cushion the effect of subsidy removal upon full... read more »

JUST IN: Senate Passes PIB Bill, Pegs Host Community Fund At 3%
JUST IN: Senate Passes PIB Bill, Pegs Ho...

JUST IN: Senate Passes PIB Bill, Pegs Host Community Fund At 3%

The Senate has passed the conference report of the National Assembly on the Petroleum Industry Bill (PIB). The report as passed pegged contributions to the host communities development trust fund at three per cent of the operating expenditure of oil companies in the region. Details shortly… Thi read more »

 Diesel Price Increases to N290 Per Litre
Diesel Price Increases to N290 Per Litre

Diesel Price Increases to N290 Per Litre

The price of automotive gas oil, popularly known as diesel, has increased to N290 per lire. The spike comes on the heels of the rise in the price of crude oil which sold at $75.55 per barrel at the international market at 11:11 PM (GMT) on Friday. The price of crude oil has been on the rise as... read more »

More from Petroleum

Dielsel Price Rises to N280, LCCI Predicts Inflation Will Rise

Dielsel Price Rises to N280, LCCI Predicts Inflation Will Rise

The price per litre of Automotive Gas Oil, popularly known as diesel, has jumped to N280, occasioned by the recent hike in global oil prices and naira devaluation. The price of diesel on... read more »

Return of Fuel Subsidies Disturbing, IMF Tells FG

In a virtual meeting with the representatives of the Federal Government, the mission of the International Monetary Fund stated that the resurfacing of fuel subsidies was concerning. The IMF... read more »

NLC Set to Meet Today Over Govs’ N380/Litre Petrol Proposal

NLC Set to Meet Today Over Govs’ N380/Litre Petrol Proposal

The leadership of the Nigeria Labour Congress is set to meet today (Friday) to deliberate and reach a stance on the proposal by governors for the price of petrol to be hiked from N162/litre... read more »

Prepare for Fuel Subsidy Removal, FG Tells Nigerians

Prepare for Fuel Subsidy Removal, FG Tells Nigerians

The Federal Government of Nigeria has asked citizens to prepare for the imminent increment in the pump price of petrol, given the current economic realities in the country. This was... read more »

No increase in Petrol Ex-depot Price in May

No increase in Petrol Ex-depot Price in May – NNPC

The Nigerian National Petroleum corporation (NNPC) says it will not increase the ex-depot price of Premium Motor spirit also known as petrol next month. The Group Managing Director, Malam Mele Kyari,... read more »