Monday, August 5, 2019

Tag "DPR"

    FG revokes six oil licences to ‘recover legacy debts’

FG revokes six oil licences to ‘recover legacy debts’

The Department of Petroleum Resources (DPR) has revoked five oil mining licences (OML) and one oil prospecting licence (OPL) belonging to five companies.In a public notice issued on Thursday, the regulatory body said the revocation was based on a presidential directive to "recover legacy debts" owed by the companies operating the licences.The five companies affected are Pan Ocean Oil Corporation [...]

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    INTERVIEW: Petro-App will expose sharp practices in oil sector, says Axiom Tech MD

INTERVIEW: Petro-App will expose sharp practices in oil sector, says Axiom Tech MD

Andre Bassey, managing director of Axiom Tech Ltd, brands himself as a young and vibrant techpreneur who has a passion for creating solutions to real-life business problems.Having spent almost a decade in the downstream sector of Nigeria’s oil and gas industry, he discovered that the marketing and transportation of petroleum products needed more "structure and order” and sought a [...]

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    DPR: We’ve sealed 80 petrol stations in Delta

DPR: We’ve sealed 80 petrol stations in Delta

The Department of Petroleum Resources (DPR), Warri zonal office, says it has sealed over 80 petrol stations in Delta since fuel scarcity began in December 2017.Antai Asuquo, Warri zonal operations controller, made this known to reporters shortly after a statewide monitoring of filling stations.He said most of the filling stations were sealed in Warri, Ughelli, Sapele, Isoko and Asaba.Asuquo, who led [...]

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    Senate blames NNPC, marketers for petrol scarcity

Senate blames NNPC, marketers for petrol scarcity

The senate committee on petroleum downstream has blamed the Nigeria National Petroleum Corporation (NNPC) and marketers over short supply of the petroleum products in the country.Kabiru Marafa, the committee chairman, said this on Monday in Gusau during an oversight assignment in the state on fuel situation in the country.Marafa, who was accompanied by Abdullahi Danbaba, a member of the committee, said [...]

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    DPR: Marketers diverted 129,000 litres from Abuja on Friday

DPR: Marketers diverted 129,000 litres from Abuja on Friday

Mohammed Saidu, head public affairs unit of the Department of Petroleum Resources (DPR), says petroleum marketers diverted 129,000 liters of petrol from Abuja on Friday.Saidu, who revealed this monitoring the stations, added that some of the erring filling stations had been given a total fine of more than N30.5 million.According to him, more intelligence units are liaising with the public [...]

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    Fake DPR staff nabbed in Nasarawa

Fake DPR staff nabbed in Nasarawa

Operatives of the Nigeria Security and Civil Defence Corps (NSCDC) nabbed one Sadiq Umar in Nasarawa state on Thursday, for allegedly posing as a staff of Department for Petroleum Resources (DPR).Robert Ibuh, NSCDC divisional officer in the state, said Umar was trying to extort money from the manager of a filling station, along Mararaba Road in Karu local government area of [...]

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    DPR seals NNPC filling station for ‘hoarding fuel’

DPR seals NNPC filling station for ‘hoarding fuel’

The Department of Petroleum Resources (DPR) in Akwa Ibom state said it had sealed the NNPC mega filling station in Uyo, for allegedly hoarding petrol.Bassey Nkanga, controller of operations in charge of Akwa Ibom and Cross River, told NAN on Sunday that the mega station had amassed the product in its storage tanks, but refused to sell it to members [...]

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    DPR recovers 114,000 litres of petrol ‘diverted by 3 stations’

DPR recovers 114,000 litres of petrol ‘diverted by 3 stations’

The Department of Petroleum Resources (DPR) says it has recovered 114,000 litres of petrol diverted by three filling stations in Yola, Adamawa.Musa Akenn, DPR controller of operations in Adamawa and Taraba states, confirmed this to reporters in Yola on Friday.Akenn said the recovered product was sold to motorists at official pump price of N86. 50.Speaking on the development, Ibrahim Gayus, [...]

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    Pump Price: DPR threatens to slam N1m fine on erring stations

Pump Price: DPR threatens to slam N1m fine on erring stations

The Department of Petroleum Resources (DPR) has threatened to impose a fine of one million naira on any oil marketer caught manipulating the pump price of fuel.The agency also said any station found selling above the fixed price will be closed for three months.Mordecai Ladan, director of petroleum resources of DPR, made the plan known in an interview with NAN [...]

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    Fuel scarcity hits Enugu as marketers shut down stations

Fuel scarcity hits Enugu as marketers shut down stations

Fuel scarcity resurfaced in Enugu metropolis on Wednesday as petroleum marketers closed down their filling stations.A NAN correspondent who monitored the situation in the state capital said virtually all the major and independent marketers were closed their stations.According to the report, only the NNPC Mega Station on Enugu-Abakaliki Expressway was dispensing products to a long queue of cars on its [...]

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    DPR blames petrol scarcity on NNPC depots

DPR blames petrol scarcity on NNPC depots

The Department of Petroleum Resources (DPR) in Benue has blamed the ongoing fuel scarcity in the state on inadequate supply of products from the NNPC depots.Benjamin Ewuga, controller of DPR in the state, told NAN that the depots were supplying 36 trucks instead of 33000 trucks meant for the state."NNPC now supplies 1.221 million litres of PMS representing 36 trucks [...]

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    DPR begins 24-hour surveillance on filling stations

DPR begins 24-hour surveillance on filling stations

The Department of Petroleum Resources (DPR) says it has set up a 24-hour special task force to supervise and monitor petrol sales at depots and stations.It said the task force would sanction depots and stations selling above the recommended price.Dorothy Bassey, assistant director, public affairs in DPR, disclosed this in telephone interview with NAN in Lagos on Thursday.Bassey said the [...]

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    Marketers blame fuel queues on CBN forex policy

Marketers blame fuel queues on CBN forex policy

Independent marketers of refined petroleum products in Nigeria have blamed building fuel queues around the country on the Central Bank’s (CBN) foreign exchange restriction policy.On Wednesday, the Nigerian National Petroleum Corporation (NNPC) had identified foreign exchange restrictions and coastal allocations as “top of the key issues faced by independent marketers”.In a meeting with Ibe Kachikwu, group managing director of the NNPC and [...]

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    Fuel scarcity looms as marketers lament non-release of N413bn subsidy claim

Fuel scarcity looms as marketers lament non-release of N413bn subsidy claim

Some accredited oil subsidy marketers on Thursday said the failure of the release of the N413 billion subsidy debt approved by the federal government was disrupting fuel importation schedule.The marketers, who made this known in an interview with NAN, expressed concern that the money had not been released one week after the approval was granted.The marketers alleged that the delay [...]

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    DPR to demolish 150 illegal petrol stations in Akwa Ibom

DPR to demolish 150 illegal petrol stations in Akwa Ibom

Asuquo Antai, controller of operations, Department of Petroleum Resources (DPR), revealed on Thursday that it would demolish over 150 illegal petrol stations in Akwa Ibom.Antai told NAN that the stations, which were built on unsuitable sites, had no licence to operate.He said though some of the station owners have commenced the regularisation of their documents, the development was unhealthy.“We are [...]

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    Despite FG slash, petrol sells for N110 in Sokoto

Despite FG slash, petrol sells for N110 in Sokoto

Petroleum marketers in Sokoto and its environs have continued to retain the N97 old pump price of petrol, contrary to the N87 price per litre announced by the federal government on Sunday.Correspondents of NAN who monitored the petroleum supply situation in Sokoto on Monday and Tuesday reported that the commodity was being sold for between N97 and N110 per litre.It [...]

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Exchange Rates

August 01, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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