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NIMASA reviews Nigerian crude terms of trade

The Nigerian Maritime Administration and Safety Agency (NIMASA) says it has renewed efforts to reconsider the terms of trade for carrying Nigerian crude oil from Free on Board to Cost Insurance and Freight.

We can’t fund petrol subsidy, says FG

The Federal Government has said that it lacked funds to subsidise the cost of PMS. This was disclosed by the Minister of State for Petroleum Resources, Chief Timipre Sylva, on Thursday, while addressing newsmen men in Abuja.

BUA Group getting set for its mega refinery project

One of Africa’s leading foods, mining and infrastructure conglomerates, BUA Group is getting set for its mega refinery project in Nigeria. The group signed an agreement with Axens of France for the supply of process technologies to build 10 million tonnes per annum mega refinery and petrochemicals facility.

Nigerian refineries incur N142bn expenses – NNPC

The latest data from the Nigerian National Petroleum Corporation (NNPC) shows that the nation’s refineries did not refine a barrel of crude oil in the 12 months to June this year but incurred a combined operating expense of N142. 07 billion.
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