Oil Marketers Refuse To Obey N5 Reduction In Petrol Price         Oil marketers, on Monday, failed to adjust the pump prices of Premium Motor Spirit (petrol) at their filling stations to reflect the N5 reduction announced by the Federal Government last week. After meeting with officials of...

NNPC Restates Commitment to Transparency         The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has reiterated his commitment to conducting the business and operations of the corporation in a transparent manner, with a view to placing it on the path...

Crude Oil Remittance: Court Upholds $1.7bn Arbitral Award In Favour Of NPDC           The Federal High Court in Lagos has upheld a landmark $1.7billion arbitral award in favour of the Nigerian Petroleum Development Co. (NPDC) Ltd against the Atlantic Energy Drilling Concepts Nig. Ltd and Atlantic...

Renewable Energy Breakthrough Threatens Nigeria’s Gas Investments         Efforts by the government to harness its 203.16 trillion cubic feet (TCF) gas reserves to spur economic activities and boost revenue may remain elusive as an emerging energy solution, especially renewable energy and energy storage, are projected to...

Petroleum Shipment: Senate Raises Concern Over $120m Yearly Losses         The Senate on Tuesday, raised concerns over reports that the nation loses over $120m annually, following overwhelming patronage of foreign shipping firms in the shipment of petroleum products. The upper chamber has therefore, directed the Nigerian National...

Fed Govt Reduces Price Of Petrol To N162.44 Per Litre         The Federal Government has reduced the pump price of premium motor spirit otherwise know as petrol from N168 per litre to N162.44 per litre effective from December 14, 2020. Minister of Labour and Employment, Chris Ngige...