NNPCL Ending Crude Oil Swap Contracts - Kyari   The National Petroleum Company Limited (NNPCL) has said it is winding down crude swap contracts with traders and will pay cash for petrol imports. The Group Chief Executive Officer of NNPCL, Mele Kyari, disclosed this in an interview...

Finance Minister: Low Oil Output Barely Enough to Cover Petrol Imports Low crude oil production means Nigeria is barely able to cover the cost of imported petrol from its oil and gas revenues, Finance Minister Zainab Ahmed told Reuters on Thursday. Ahmed added in an interview...

Nigeria Spends N1.47trn On Petrol Imports In Six Months         The amount spent on the importation of Premium Motor Spirit (petrol) in the first half of this year jumped to N1.47tn, which is more than 73 per cent of what was incurred in the whole of...

NNPC Saves $1bn On Petrol Imports - Kyari     The Group Managing Director, Nigerian National Petroleum Corporation, Mele Kyari, on Wednesday announced that the oil firm saved over $1bn of the cost that would have been built in on the top of petroleum products imports into...

Petrol Imports Rose By 100m Litres In January – NNPC       Latest figures in the financial and operations report of the Nigerian National Petroleum Corporation have shown that the imports of Premium Motor Spirit (or petrol) by the NNPC rose by 100 million litres following the...

Forex Scarcity Bars Marketers From Petrol Imports       Despite the deregulation of the downstream oil sector by the Federal Government, private marketers are still tied to the Nigerian National Petroleum Corporation’s apron strings as they continue to steer clear of petrol importation, ’FEMI ASU reports The expected...