The Oil Bloc
Your first choice for oil industry news

- Advertisement -

Browsing Category

News

China increases retail prices of gasoline, diesel

Reports have emerged that China will increase the retail prices of diesel and gasoline beginning from Tuesday. According to the National Development and Reform Commission (NDRC), retail prices will edge up by 70 yuan (about 10 U.S. dollars) per tonne for the two types of refined oil products. In the current pricing mechanism, international…

Dangote refinery saves Nigeria $7.5bn fuel import

Dangote Refinery would save Nigeria more than  N2.7 trillion ($7.5 billion), Group Executive Director, Dangote Industries Limited, Devakumar Edwin says. Edwin said that the refinery "is going to save a huge amount of foreign exchange outflow because, today, forex is being used in the importation of petroleum products and our foreign reserves are…

Dangote Refinery poses challenge to European plants

The much talked about Dangote crude oil refinery being built in Lagos is said to be a threat to  European plants which Nigeria mostly import fuel from. The Editorial Director, Strategic Oil Markets Development, S&P Global Platts, Andrew Bonnington, said at the S&P Global Platts Lagos Oil & Energy Forum on Thursday hinted that the…

Marketers worry over impending fuel scarcity

The Independent Petroleum Marketers Association of Nigeria (IPMAN) is concerned about the non-availability of fuel at the Ibadan depot, which could lead to fuel scarcity. In a statement issued in Lagos on Thursday, Alhaji Raheem Tayo, Chairman of IPMAN Ibadan chapter said that the association was worried that the situation had not improved in…

Buhari may not assent to PIGB-Amadi, others say

The immediate past Chairman of Nigerian Electricity Regulatory Commission, Dr. Sam Amadi, and other industry stakeholders have said that President Muhammadu Buhari may not assent to the Petroleum Industry Governance Bill (PIGB) transmitted to him by the National Assembly in April. The team spoke in a recent roundtable conference organized by the…

Shell to Build Gas Line in Abia

Leading oil and gas company, Shell Gas Nigeria Limited,  has said plans to construct a gas line around key industrial areas in Abia. Managing Director of Shell, Mr. Ed Ubong, Tuesday, disclosed this when he visited the Abia state governor, Gov. Okezie Ikpeazu, at the Government House in Umuahia, the state capital. Ubong hinted that the…

Rig owners greatly affected by downturn in the oil industry

The Rig Owners and Operators 2017 meeting was held in Port- Harcourt recently and participants at the meeting have decried the current situation of the their businesses in the country. Of particular mention from them was the fact that the Federal Government of Nigeria has failed to meet their Joint Venture cash obligations to the industry…

Pan Ocean Oil Corporation nears completion of major export pipeline

Pan Ocean Oil Corporation (POOC) has indicated that its Amukpe Escrcavos Pipeline Project is nearing completion and will be on stream by the end of year 2017. The facility is a 67 kilometre pipeline and would act as an alternative to the Trans Forcados Pipeline (TFP) which is constantly subject to attacks in the Niger Delta. The Oil Bloc…

NNPC kerosene output increases

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, stated that the NNPC through its refineries, producing over 5 million litres of kerosene daily. This production figure he noted, was over 60% of the nations daily consumption with the balance being imported by private traders and marketers.…

NLNG impressed by NIPCO PLC facilities

On a recent facility tour of  Nipco PLC's Liquefied Petroleum Gas facility LPG), the Managing Director of the Nigerian LNG Limited, Mr Tony Attah, was highly impressed by the human capital available at the company in addition to the huge investment in facilities undertaken by the company. NIPCO Plc completed a 4,800 MT LPG facility in 2008…
Translate »