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Fuel scarcity as marketers shut down stations in Anambra

Anambra has been plagued into hardship lately as the Independent Petroleum Marketers Association of Nigeria (IPMAN) has shut down fuel stations following the recent annihilation of some stations in the state by the state government. Residents are currently trekking and motorists are forced to stay indoors, causing much havoc in the state. It…

Stakeholders to make listing of oil firms

The executive secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote, has called on all stakeholders of the upstream and midstream companies in Nigeria to list their shares on the Nigerian Stock Exchange (NSE). This, according to him would enhance the growth of the oil and gas industries, and would as well…

NNPC to dominate Africa’s Oil Market in 2021

The Nigerian National Petroleum Corporation (NNPC) may dominate all other national oil companies in Africa in three years’ time. The company’s chief strategist, Mr. Bala Wunti had hinted that the company has mapped a three-phased corporate strategy that it plans to use to surpass and take the lead over every other oil companies in Africa. The…

Oil price edges up as Saudi Arabia cuts production

As Saudi Arabia had cut production to avert the looming oversupply of oil, oil prices have edged up. OPEC had in its last monthly report published on Monday confirmed that Saudi Arabia had cut down production. The cut comes amid expected export declines from Iran once the United States re-imposes sanctions on Tehran’s petroleum industry from…

OPEC set to slash 2019 oil output

In a bid to forestall flooding the market with more oil than necessary, the Organization of Petroleum Exporting Countries (OPEC) intends to reduce her output. A recent report from OPEC has it that about 32.05 million barrels per day (bpd) of crude will be needed in 2019, against 130,000 bpd from last month’s forecast. Currently, with her 15…

Pakistan’s Energy Ministry debunks oil discovery by ExxonMobil

There have been rumors that ExxonMobil is close to discovering a large deposit of oil in Pakistan. As multiple reports trickled out, it was further substantiated on August 4 when a Federal Minister Hussain Haroon made a statement linking the US oil and gas multinational to this discovery. In a recent statement, the Pakistani Energy Ministry…

Oil and gas may not be favourable to Nigeria in next half century- says SPE

For Nigeria to remain competitive and relevant in the global economy, the oil and gas sector must shift from being a consumer industry to an enabler of economic diversification, the Society of Petroleum Engineers (SPE) says. The Chairman of Nigeria Council of Society of Petroleum Engineers (SPE), Mr. Chikezie Nwosu, in an interview on Sunday, in…

Eid-el-Kabir: Marketers urge NNPC to avert looming fuel scarcity

Ahead of the forthcoming Eid-el-Kabir festival, Petroleum marketers have called on the Nigerian National Petroleum Corporation (NNPC) to supply fuel to the Ejigbo depot in Lagos. Chairman of the Independent Petroleum Marketers Association (IPMAN) of the Ejigbo Depot, Alahji Ayo Alanamu, who made the appeal recently said petroleum products have…

Iran, Russia sign deal for oil exploration after Trump sanctions

Following a vow made by the US president, Donald Trump to sanction Iran's energy, Iran, Russia and other ex-soviet unions to divide up the oil and gas resources of the Caspian Sea. Agreed yesterday, the deal was to pave way for more oil exploration. The Caspian Sea said to be world’s biggest enclosed body of water has been disputed over for…

Stakeholders want full deregulation of downstream sector

Stakeholders have advised that the Nigerian downstream sector should be fully deregulated and free from the government. This according to them would make it attractive to foreign investors who would, in turn, build refineries to meet the country's need and also of entire West Africa. A communique which was made available to THISDAY Newspaper…
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