Tag Archives Petroleum

Algeria Crude Oil Output Slumped in 2020
Algeria Crude Oil Output Slumped in 2020

Algeria Crude Oil Output Slumped in 2020

Algeria’s oil revenue tumbled in 2020, worsening an economic crisis in the North African country which is highly dependent on crude income, according to data released by the Energy ministry on Sunday. The COVID-19 pandemic had taken a toll on oil prices, ravaging the economies of producer... read more »

FG Reduces Petrol Price by N5 Per Litre
FG Reduces Petrol Price by N5 Per Litre

FG Reduces Petrol Price by N5 Per Litre

The federal government has announced a N5 reduction in the price of Premium Motor Spirit, popularly known as petrol, bringing the pump price down to N162.44 per litre. The new price which FG said will take effect from December 14, 2020, came after negotiations with the organised labour. Senator... read more »

Autogas, Modular Refinery: PMB Making Conquests Steadily, Surely – Femi Adesina
Autogas, Modular Refinery: PMB Making Co...

Autogas, Modular Refinery: PMB Making Conquests Steadily, Surely – Femi Ade...

Diverse developments in our country often bring to mind lyrics of the song ‘God Moves in a Mysterious Way,’ by William Cowper. The lines go thus: “Behind a frowning providence, He hides a smiling face. His purposes will ripen fast, unfolding every hour.” If we are not discerning enough, the... read more »

Oil Prices Hit 8-month Peak Amid Vaccine Hopes
Oil Prices Hit 8-month Peak Amid Vaccine...

Oil Prices Hit 8-month Peak Amid Vaccine Hopes

Global oil prices on Tuesday rose to the highest level since March, spiking above $47 per barrel (pb) amid hopes for a COVID-19 vaccine dispatch within weeks revived hopes for more fuel consumption. The international oil benchmark, Brent crude, gained more than 3 percent to climb to $47.82 pb, The... read more »

NNPC Begged People to Buy Oil at $9 – Kyari
NNPC Begged People to Buy Oil at $9 – Ky...

NNPC Begged People to Buy Oil at $9 – Kyari

Mallam Mele Kyari, Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, has said that the firm had to beg buyers in April to purchase the Nigerian crude oil at $9 per barrel. The collapse in demand coupled with the price war between Saudi Arabia and Russia plummeted the... read more »

AGAIN, NNPC Hikes Petrol Price, Marketers to Sell at N168-170/litre

AGAIN, NNPC Hikes Petrol Price, Marketers to Sell at N168-170/litre

The Petroleum Products Marketing Company (PPMC), has announced a rise in the ex-depot price of Premium Motor Spirit (PMS), popularly known as petrol, to N155.17 per litre from N147.67 per... read more »

Motorists Whine as Petrol Scarcity Rocks Abuja (Photos)

Motorists Lament as Petrol Scarcity Rocks Abuja (Photos)

There has been scarcity of Premium Motor Spirt (PMS) popularly known as petrol in the Federal Capital Territory (FCT), Abuja as long queues were seen at most filling stations in the city,... read more »

Buhari Justifies Increase in Petrol Price, Says It makes no sense for oil to be cheaper in Nigeria than Saudi Arabia

Buhari Justifies Increase in Petrol Price, Says It Makes No Sense for Oil to be Cheaper in...

President Muhammadu Buhari has said it makes no sense for Nigeria to sell petroleum products at cheaper prices than its neighbouring countries. He disclosed this on Thursday while... read more »

We will Implement Agreement Diligently - NNPC Assures Labour After Strike Suspension

We will Implement Agreement Diligently – NNPC Assures Labour After Strike Suspension

Mele Kyari, Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), has pledged commitment to implement agreements reached with organised labour which led to the... read more »

Subsidy not Sustainable with 60% Revenue Reduction, says Osinbajo

Subsidy not Sustainable with 60% Revenue Reduction, says Osinbajo

Vice President Yemi Osinbajo has said federal government can no longer afford to sustain fuel subsidy with 60 percent reduction in revenue generation. Osinbajo made the remark at a virtual... read more »