Fuel Queues Persist as Depots Ration Fuel   Many filling stations were shut in several states as the queues for Premium Motor Spirit, popularly called petrol, continued on Monday while depots rationed the volumes of PMS released to marketers. In Abuja, Niger and Nasarawa states, several filling...

NNPC Disagrees as Report Puts Petrol Debt at $6bn Nigeria’s debt to suppliers of Premium Motor Spirit, popularly called petrol, has surpassed $6bn, doubling what it was since early April, as the Nigerian National Petroleum Company Limited struggles to cover the gap between fixed pump...

NNPC Refutes Inflating Petrol Subsidy by N3.3tn The Nigerian National Petroleum Company Limited (NNPCL), on Monday, denied reports that it inflated the subsidy on Premium Motor Spirit, popularly called petrol, by N3.3tn during the administration of former President Muhammadu Buhari. It argued that its subsidy claims...

NNPCL to Begin Oil Production at OML 13 Nigerian National Petroleum Company Exploration and Production Limited (NNPCL) and Natural Oilfield Services Limited have announced the commencement of oil production at Oil Mining Lease 13 in Akwa Ibom State. This was contained in a statement signed by...

Fuel Subsidy: Queues Return As Backlog Stifles Supply   Motorists in some parts of Lagos faced a resurgence of petrol queues on Thursday as the Nigerian National Petroleum Company Ltd (NNPC) struggled to meet national demand due to a backlog of unpaid subsidies. The NNPC Ltd, which...

NNPCL To Pay Taxes, Royalties From $3.3bn Afrexim Loan   The Nigerian National Petroleum Company Limited (NNPCL) on Sunday, said it would prepay future royalties and taxes to the Federal Government from the $3.3bn financing deal it got from African Export-Import Bank last year. NNPCL disclosed this...