As part of efforts to meet the fuel needs of the air force and civilian aircraft, the Nigeria Air Force (NAF) has launched an aviation fuel depot in Port Harcourt.
Equinor has finalized plans on an 18.6 billion Norwegian crown ($1.95 billion) development of the North Sea discovery.
The Minister of State for Petroleum Resources, Timipre Sylva, has clarified that the Nigerian National Petroleum Corporation (NNPC) would not be scrapped but commercialised when the Petroleum Industry Bill is signed into law.
The Federal government spent a total of N2. 13tn from 2016 to 2019 as subsidy on foreign exchange for marketers, says the Group Managing Director of the Nigeria National Petroleum Corporation, Mele Kyari.
Crude oil prices fell on Monday as rising cases of coronavirus upset hopes for a smooth recovery in fuel demand, with crude on track for its first monthly fall in many months after slipping last week.
President Muhammadu Buhari has submitted the much-awaited Petroleum Industry Bill (PIB) 2020 to the National Assembly. The President proposed the creation of the Nigerian National Petroleum Company Limited.