Petrol Price Remains N162/Litre, Cooking Gas Prices To Drop — FG     The price of Premium Motor Spirit (PMS) otherwise known as petrol will still sell at N162-N165 per litre despite the signing of the Petroleum Industry Bill (PIB) into law, the federal government has said. President...

FEC Okays $1.48bn For Refineries Repair       The Federal Executive Council on Wednesday approved $1.48bn for the rehabilitation of two refineries in Warri and Kaduna. The decision was taken at the weekly meeting of the council presided over by Vice-President Yemi Osinbajo. Osinbajo stood in for President Muhammadu...

Rise In Oil Price Continues, Inches Closer To $75pb     The price of crude oil crept higher yesterday, almost hitting the $75 per barrel mark as industry data pointed to a substantial decline in United States crude stockpiles coupled with rising fuel sales in India as...

Nigeria Parleys Equatorial Guinea On Gas Export       Officials of Nigeria’s Federal Ministry of Petroleum Resources have held a meeting with officials of the Ministry of Mines and Hydrocarbons of Equatorial Guinea partly to expedite action on the supply of gas from Nigeria. According to a statement,...

Reps Condemn $750m Yearly Loss To Gas Flaring       The House of Representatives says Nigeria is losing about $750m to gas flaring annually. It added that the flared gas could have been used to generate electricity for the country. The Federal Government has, however, said it is committed...

House'll Pass PIB Into Law In April, Says Gbajabiamila       Speaker, House of Representatives, Femi Gbajabiamila has reiterated the commitment of the parliament to passing the Petroleum Industry Bill, PIB into law in April this year. The Speaker gave the assurance while making his remarks at the...