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.
While marketers claimed that the NNPC has not increased the ex-depot price of petrol, private depot owners have raised their prices. Meanwhile, the Nigerian National Petroleum Corporation on Thursday said it had not affected any increase
Fuel depot owners have been warned against the hoarding of petroleum products in their facilities. The Department of Petroleum Resources gave this warning recently saying that erring members would be sanctioned.
The price of Premium Motor Spirit popularly called petrol seems to have become a bone of contention in the country even as marketers met in Abuja to discuss the matter.
Fuel marketers have started adjusting their petrol pump prices amid the supply shortage facing private depots in Apapa. Our correspondent observed that some filling stations in Lagos and Ogun states increased the pump price of petrol to N170 per litre on Tuesday from N162 per litre. Some of the stations were Capital Oil and Gas, Fatgbems and…