Petrol Pump Price May Hit N190 As Oil Nears $60       Marketers have said with the current realities in the global crude oil markets, the price of Premium Motor Spirit (petrol) in Nigeria should be between N185 and N200 per litre, unless the government wants to...

FG Curbing Unemployment, Vandalism With Modular Refineries - Sylva         The Minister of State for Petroleum Resources, Chief Timipre Sylva, has said that with the completed and ongoing modular refineries, the federal government is set to tackle unemployment and incessant pipeline vandalism. Sylva spoke during the ground-breaking...

Oil Sector’ll Face Prolonged Reduced Demand - Fed Govt         The oil and gas sector is going to face a substantially reduced demand for a prolonged period as its recovery is not likely any time soon, the Federal Government said on Thursday. It also announced the resolve...

Nigeria To Resume Fuel Imports From Niger Republic       Nigeria, Africa’s biggest oil producer, is set to resume the importation of petroleum products from a neighbouring country, Niger Republic. The Ministry of Petroleum Resources announced on Thursday in a statement that the two countries signed a Memorandum...

Nigeria’s LPG Storage Capacity Now 69,698MT - Sylva         The Minister of State for Petroleum Resources, Chief Timipre Sylva, said on Wednesday that the Liquefied Petroleum Gas storage capacity in the country has risen to 69,698 metric tonnes following the construction of a new terminal by...

We Must Reduce Oil Production Cost, Says Osinbajo         The Vice-President, Prof. Yemi Osinbajo, has said the oil production cut deal by the Organisation of the Petroleum Exporting Countries and its allies have resulted in lower revenue generation for the Federal Government. Osinbajo said on Tuesday that...