Nigerian Oil Export Terminal Had Theft Line Into Sea For 9 Years   Officials in Nigeria discovered an illegal connection line from one of its major oil export terminals into the sea that had been operating undetected for nine years, the head of state oil company...

Motorists Lament As Fuel Queues Resurface In Abuja   Queues for the Premium Motor Spirit, popularly called petrol, resurfaced in Abuja on Tuesday, causing motorists to lament the incessant PMS scarcity that had characterised the Federal Capital Territory since this year. At the two filling stations, Conoil...

NNPC Acquires Downstream assets of OVH Energy, Takes Over 380 Filling Stations The Nigerian National Petroleum Company Ltd has acquired the downstream assets of OVH Energy Marketing Company making it the biggest downstream company with over 380 retail stations across Africa’s biggest economy. The acquisition was...

Reps Demand Tax Records, Documents Of NNPC JV Accounts   The House of Representatives has demanded the tax records and other relevant documents on joint venture (JV) businesses and production-sharing contracts of the Nigerian National Petroleum Corporation (NNPC) from 1990 to date from the Federal Inland...

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,...