Category: Oil and Gas

Oil firm shut over unapproved offshore operations

THE Federal Government has shut down Scorpion Oil Services for carrying out offshore operations without...

Subsidy cost spikes by 370% amid rising debt

The cost of fuel subsidy is estimated to increase by 369.93 per cent from 2021...

NNPC denies issuing directive on fresh petrol price

The Nigerian National Petroleum Company Limited has denied issuing the directive on the new price...

NNPC becomes commercial entity amid fuel scarcity

The President, Major General Muhammadu Buhari (retd.) officially unveiled the new brand of the Nigerian...

Gas flaring: Oil companies oppose FG’s penalties

The federal government’s enforcement of penalties for gas flaring as contained in the Petroleum Industry...

NGF says subsidy’ll affect payment of salaries

The Nigeria Governors’ Forum has said that rising subsidies on petroleum products now place a...

Gas consumption to decline over Russia, Ukraine war – Report

Gas consumption will contract slightly this year due to high prices and Russian cuts to...

Nigeria’s crude oil output drops below expectation – Report

A financial service company, Vetiva, has decried that Nigeria’s crude oil output has fallen below...

NNPC, Sahara to build jetties to boost cooking gas supply

The Nigerian National Petroleum Company Limited and Sahara Group, through their joint venture business, WAGL...

FG spends N40.1bn daily as fuel subsidy hits N600 per litre – Operators

Oil operators on Sunday revealed that the Federal Government spends N40.1bn daily when subsidising every...

Petrol price rose to N173.08 in May –NBS

The National Bureau of Statistics says the average retail price paid by consumers for Premium...

Abuja queues: Buhari increases freight rate for fuel transporters

In a bid to clear the persistent fuel queues by motorists in parts of the...