Tag: OIL AND GAS

NNPC Ltd Addresses Fuel Supply Shortage in Lagos and FCT

oluwatobi enitan

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has addressed concerns regarding the recent fuel supply and distribution challenges experienced in parts of Lagos and the Federal Capital Territory (FCT). According to a statement from Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd., the issues are due to a temporary disruption in the discharge operations of several vessels. NNPC Ltd. assures the public that it is actively working with all relevant stakeholders to resolve the situation promptly. Efforts are being made around the clock to restore normal fuel supply…

Read More

House Committee Targets PMS Racketeers, Collaborates with Stakeholders to Address Downstream Challenges

oluwatobi enitan

The House of Representatives Committee on Petroleum Resources (Downstream) has declared its determination to pursue individuals involved in Premium Motor Spirit (PMS) product racketeering and other downstream sharp practices. This announcement comes as the committee commits to partnering with key industry associations, including the Nigerian Association of Road Transport Owners (NARTO) and the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), to address issues affecting the availability and affordability of PMS and AGO. Chairman of the committee, Hon. Ikeagwuonu Ugochinyere (PDP-Imo), issued a stern warning during a meeting with…

Read More

Speaker of the House of Representatives, Tajudeen Abbas, Advocates Privatization of Nigeria’s Refineries

oluwatobi enitan

In a meeting with the management of the Nigerian National Petroleum Corporation Limited (NNPCL), led by the Group Managing Director, Mr. Mele Kyari, in Abuja on Thursday, Speaker Abbas recommended the privatization of the country’s oil refineries for optimal functionality. He expressed concern over the state of the refineries, describing it as shameful and highlighted the significant expenditure on salaries and allowances with little output. Abbas emphasized the need for multi-dimensional uses of the refineries, suggesting that privatization could lead to increased efficiency. He urged the NNPCL to consider privatization…

Read More

Iranian Ambassador Meets House Committee Chair on Petroleum Resources (Downstream)

oluwatobi enitan

..Iran Re-affirms Readiness To Help Nigeria To Solve Energy Crisis With huge investment in downstream gas and petroleum infrastructure development The Government of the lslamic Republic of Iran has once again asserted its eagerness to support the Nigerian Government in addressing its energy challenges through collaborative investment and cooperation, primarily, in the development of the oil and gas sector’s downstream division, including refineries and related infrastructure.This commitment was underscored in Abuja by the Iranian Ambassador to Nigeria and Equatorial Guinea, Ambassador Muhammad Alibak, during a meeting with Honorable Ikenga Imo…

Read More

NOGASA Highlights Refinery Solution as Key to Mitigating Fuel Price Hikes in Nigeria

admin

The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) has emphasized that the persistent issue of escalating fuel prices will endure until the Federal government effectively addresses the refinery problem. Mr. Benneth Korie, the national president of NOGASA, conveyed this perspective during a press interaction in Abuja on Monday. Korie explained that the elevated costs of diesel and the challenges posed by substandard road conditions stand as the primary drivers behind the elevated fuel prices. He elaborated that transporters are forced to procure diesel at exorbitant rates to fuel…

Read More