Despite intervention by the Nigerian National Petroleum Company Limited (NNPCL) and the House of Representatives, aviation fuel or Jet A1 has continued to sell above N585 per litre, Daily Trust reports. The fuel is said to take about 40 per cent of an airline’s operating cost. The lawmakers last month met with stakeholders urging that […]
Tag: Petroleum
Yenagoa — Stakeholders in Niger Delta have called on the Federal Government to compel International Oil Companies, IOCs, operating in the region to honour the Memorandum of Understandings, MoUs; General Memorandum of Understandings, GMoUs, and other agreements entered with communities. According to the stakeholders, the call became imperative following the divestment by the IOCs, which […]
In a statement by his spokesperson, Garba Shehu, on Sunday, Mr Buhari described the incident as “a catastrophe and a national disaster.” President Muhammadu Buhari has directed Nigeria’s security agencies to intensify the clampdown on illegal refineries in the country. The directive follows the explosion that rocked an illegal refinery, Friday night, at Abaezi forest […]
The number of victims in the illegal oil refinery fire disaster has risen by one, bringing the number of victims so far recovered to 110. The Head of Operations, National Emergency Management Agency (NEMA), Mr Ifeanyi Nnaji, said the latest addition was a pregnant woman whose belly bust, exposing the foetus. Nnaji, who described the […]
Nigerians spent more on transportation in March, the National Bureau of Statistics, NBS has said. In its monthly Transport Fare Watch for March 2022 released on Sunday, the Bureau said the average fare paid by air passengers for specified routes single journey, increased by 4.43 per- cent on a month-on-month from N44,825.04 in February 2022 […]
Abuja, Nigeria — Officials in southern Nigeria are investigating a site where more than 100 people have been reported killed following a powerful oil explosion. The Imo state commissioner for information, Declan Emelumba, said officials are probing Friday’s fire and explosion at an illegal oil bunkering site, or ‘kpofire’ in the Egbema local government area. […]
At least 80 people have died in an explosion at an illegal oil refinery in southeastern Nigeria, emergency officials say. The disaster highlights the country’s problems with oil theft amid high levels of poverty. An explosion at an illegal oil refinery between the southern Nigerian oil states of Rivers and Imo has killed at least […]
A resident said the explosion occurred at 3 a.m. Friday. A petrol-laden tanker has exploded at Ajegunle Bus-Stop, around Alagbado, on the Lagos-Abeokuta Expressway, in the early hours of Friday. This newspaper understands that the explosion jolted residents from their sleep, burning houses and shops. A resident told PREMIUM TIMES in a telephone interview that […]
Federal government has said it does not envisage the completion of the entire Ogoni Cleanup Project during the lifetime of the current administration. The minister of environment, Mohammed Hassan Abdullahi, disclosed this to State House correspondents after meeting with President Muhammadu Buhari at the presidential villa, Abuja. He said the project, which was divided into […]
The Federal Government yesterday began stakeholders’ consultation on draft regulations for the petroleum industry with a call on the operators to develop innovative ways to exploit and explore hydrocarbon resources in the country in the face of dwindling investments from international oil companies. The Minister of State Petroleum Resources, Chief Timipre Sylva who made the […]
The Somali government and a U.S. company are locked in a dispute over the validity of an oil exploration agreement reached in February in Istanbul. Abdirashid Mohamed Ahmed, Somalia’s minister of petroleum and mineral resources, and Richard Anderson, chief executive officer of Coastline Exploration Ltd., signed the agreement. But in separate statements, Somali President Mohamed […]
Petrol subsidy payments grew by 349.42 per cent from N350 billion in 2019 to N1.573 trillion in 2021, propelled by the rising price of crude oil in the international market and the falling value of the Naira. The cost of subsidizing the product in 2020 was N450 billion. In 2022 alone, the total cost of […]
Nigeria only managed to pump 1.238 million barrels per day, although it had a fixed 1.718 million barrels per day production quota from the Organisation of Petroleum Exporting Countries (OPEC) in March, 2022 a new report from the cartel has indicated. At a time that the country should be harnessing every dollar it could possibly […]
A crude oil leak from the 12-inch Benisede-Brass Creek Delivery Line has been reported in the riverine enclave of Peretuorugbene in Bayelsa State. The facility is owned by Shell Petroleum Development Company, SPDC. The incident was confirmed by the National Oil Spills Detection and Response Agency, NOSDRA, yesterday. NOSDRA, which concluded its investigation, weekend, lamented […]
Libya’s National Oil Corporation (NOC) said the al-Feel oil field had been shut down due to a group of people disrupting the operation. Disruptions were also reported at the Zueitina oil port. Libya’s National Oil Corporation (NOC) announced Sunday it was forced to shut down an oil field amid a political impasse that threatened to […]
Some countries have offered to help Tunisia prevent damage to the environment after a merchant ship carrying up to one thousand tons of oil sank off the coast of Gabes, the Tunisian defense ministry said on Sunday. The ship heading from Equatorial Guinea to Malta sank on Friday and the Tunisian navy rescued all seven […]
Tunisian authorities said they are working to prevent an “environmental disaster” after the Equatorial Guinea-flagged ship sank. A ship carrying 750 tons of fuel sank off Tunisia’s southeastern coast on Saturday, authorities said on Saturday. Tunisia’s Ministry of Environment said authorities were evaluating the situation following the sinking of the ship but did not provide […]
The Government of the Democratic Republic of the Congo (DRC) has approved at the fortieth meeting of the council of ministers last week a plan to auction 16 oil blocks. This action would have cataclysmic consequences for the global climate and local communities. Greenpeace Africa is calling on the Congolese government which is decidedly obstinate […]