The Department of Petroleum Resources (DPR) has extended the registration deadline for the marginal oil fields bids by one week. [...]
Petrobarometer
The Department of Petroleum Resources (DPR) says 94 percent of filling stations have complied with the new petrol price of between N121.50 to N123.50 per litre. Abubakar Buba, the Abuja zonal operations controller of the DPR, disclosed this while conducting a monitoring exercise of fuel retail outlets in the federal capital territory (FCT) on Wednesday. Buba expressed satisfaction with the level of [...]
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President Muhammadu Buhari has approved the reconstitution of the board of the Nigerian National Petroleum Corporation (NNPC). According to a statement by Femi Adesina, special adviser to the president, the reconstitution comes after the expiration of the term of the board members appointed in 2016. Members of the new board are Mohammed Lawal (north-west), Tajudeen Umar (north-east), Adamu Mahmood Attah (north-central), Magnus [...]
The Nigeria LNG (NLNG) says it has paid $17 billion in dividends to the federal government through the Nigerian National Petroleum Corporation (NNPC). In tweets to celebrate its 31 years of existence, the company said it has generated $108 billion in revenue. "With 22 million tonnes per annum (MPTA) six-train on Bonny Island, Nigeria LNG has reduced gas flaring from 65% to [...]
Timipre Sylva, the minister of state for petroleum resources, says the federal government will continue to determine the price of petrol because of the need to protect the public from exploitation. In a statement released on Friday, Sylva said the federal government has decided to monitor the pump price of petrol despite the deregulation. Sylva said the government will act as a shield [...]
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The Nigerian National Petroleum Corporation (NNPC) has announced a downward review of the ex-depot price of petrol from N113.28 per litre to N108 per litre. Kennie Obateru, group general manager of the NNPC public affairs division, said the review is in line with the new pricing template that allows for an adjustment of petrol to reflect the situation in the global [...]
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