NESG, Marketers Express Fear as Fuel Subsidy Gulp N2.04tn The Nigerian Economic Summit Group and oil marketers, under the aegis of the Petroleum Retail Outlet Owners Association of Nigeria, have expressed concern about an impending fiscal crisis in the country following the continued rise in...

FG Pays IOCs $4bn, Secures Pipelines With N12.43bn   Latest figures from the national oil company on cash call arrears repayment indicated that the Federal Government, through NNPC, had so far paid $4.04bn to five of its joint venture international oil companies as at July 31,...

NNPCL To Sign Gas Pipeline Contract With Morocco, West African Countries   The Nigerian National Petroleum Company Limited (NNPCL) will tomorrow (Thursday) sign a Memorandum of Understanding (MoU) on a gas pipeline project with the National Office of Hydrocarbons and Mines of Morocco and the commission...

FG Unable to Stop, Confront Daring, Sophisticated Oil Thieves A market intelligence and data analytics firm, Proshare, has revealed that oil theft persists in Nigeria because all the institutions of state lack the will and determination to stop the menace. In the report which dived deep...

We Lose $700m Monthly To Oil Theft - NNPC   The Nigerian National Petroleum Company Limited (NNPCL) says it loses 470,000 bpd amounting to $700m monthly to the activities of oil thieves. The Group General Manager, Crude Oil Marketing Department, Rose Eshiett, disclosed this to journalists on...

NNPC Backs Forensic Audit, Defends 68m-litre Daily Consumption   The Nigerian National Petroleum Company Limited (NNPCL) on Sunday insisted that daily supply of Premium Motor Spirit, popularly called petrol, across the country was 68 million and offered to submit itself for forensic audit of PMS supply...