Explosions in oil tankers and petroleum products distribution tankers have become rampant. Hence, the Federal Government plans to adopt new technology to stem the tide.
Investors are calling for clarity on fiscal terms before they can commit their capital to gas development projects across Nigeria.
Major oil companies in Nigeria spent N3.68bn on transportation and freight of costs of oil products in 2020, in contrast to the N5.13bn the oil firms spent for the same purpose in 2019.
Seplat has described its gas business as a strong catalyst for sustainable development in Nigeria. According to the company. this drive is a revolution, indicating that the direction is laudable and highly rewarding to Nigerians and the economy at large.
As part of measures adopted to strengthen the currency and by extension the nation’s economy, the Federal Government has concluded plans to sell crude oil to the $15 billion Dangote Refinery in Naira. Inspecting the ongoing construction of the Dangote Refinery, Petrochemicals Complex Fertiliser Plant, and Subsea Gas Pipeline project at Ibeju…
The Shell Petroleum Development Company of Nigeria Limited is making moves to increase economic activities for gas-based industrialization of the country using the nation's proven gas reserves.
The Major Oil Marketers Association of Nigeria has said that the country spent a total of N10.7tn on fuel subsidy in the last 10 years. The Association's Chairman, Mr Adetunji Oyebanji, who was the guest speaker at the 18th Aret Adams Lecture on Thursday, said N750bn was spent on subsidy in 2019.
Algeria has again joined the league of other net exporters of gasoline, the most in-demand product of the distillation of crude oil.
It has been observed that the price of Automotive Gas Oil, also known as diesel, has risen to a high of N250 per litre, with businesses taking a beating on the back of rising energy costs.
The licensing of more modular refineries to come on stream would put an end to the problem of product scarcity in the country, the Department of Petroleum Resources has said, as it plans to license more of such refineries.