Petrol Subsidy Gone Forever, Says Kyari   The era of subsidy on petrol is gone forever, the Group Managing Director, Nigerian National Petroleum Corporation, Mele Kyari, said on Monday. Kyari, who spoke during a live programme on African Independent Television, stated that with the current fluctuations in...

Nigeria’s Oilfields Face Shutdown Risk Amid Market Woes   The collapse of crude oil prices and the oversupply of the commodity in the global market amid shrinking demand may force some producers in Nigeria to shut down their oilfields. Given the high cost of producing a barrel...

Nigeria Has 2.68bn Litres Of Petrol In Stock, NNPC Says   The Nigerian National Petroleum Corporation (NNPC) yesterday, said the country has nothing less than 2.68 billion litres of Premium Motor Spirit (PMS) or petrol in-country and marine storage to meet daily demand in the country. Allaying...

Domestic Utilisation Gulps 8,621,658 Barrels - NNPC   The Nigerian National Petroleum Corporation (NNPC) in November 2019, lifted 8,621,658 barrels of crude oil from the daily allocation for domestic utilization translating to an average volume of 287,389 barrels of oil per day in terms of performance. The...

Oil Price Plunges To $22, Cheapest In 18 Years   The international oil benchmark, Brent crude, plunged to its cheapest in 18 years on Monday as it traded around $22 per barrel. This comes amid growing fears that the global coronavirus shutdown could last months and demand...

NNPC Decries Panic Buying As Petrol Queues Surface In Abuja   Motorists and other users of petrol formed long queues in front of many filling stations in Abuja and neighbouring Nasarawa and Niger states on Monday. The queues surfaced despite assurances by the Nigerian National Petroleum Corporation...