Petroleum marketing companies in the country have said the lack of deregulation in the downstream sector of the nation’s oil and gas sector is taking a toll on their business and hampering investment. They said that full deregulation of the sector would help to stabilise the fuel market and boost local refining. The Chairman, Conoil […]
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Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has said that the corporation doubled the daily supply of Premium Motor Spirit (PMS), otherwise called petrol, from daily 700 trucks (about 27million – 30million) litres per day supply to 80million litres per day since the current hiccup in the supply chain […]
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As the scarcity of Premium Motor Spirit (petrol) continues to rock many parts of the, the Lagos Chamber of Commerce and Industry has said the Nigerian National Petroleum Corporation cannot continue to be the sole importer of the product into the country. Private oil marketers had since last year stopped fuel importation due to shortage […]
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National Bureau of Statistics and the Petroleum Equalisation Fund on Friday commenced investigations to ascertain the actual volume of Premium Motor Spirit being consumed in the country daily. According to both agencies, the 35 million litres or 40 million litres daily petrol consumption figures often brandished by some government establishments were mere estimates, as they […]
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Agency that regulate the petroleum product pricing has said that the additional N1 per litre transporters’ bridging fee for Premium Motor Spirit, popularly known as petrol, will not in any way affect the pricing template for the commodity. The PPPRA is the agency of the Federal Government responsible for the fixing and regulation of petroleum […]
Read More NIGERIA spent N20.2 trillion to import petrol, diesel and kerosene between January 2010 and September 2015, the Nigerian Bureau of Statistics (NBS) has said. Figures jointly compiled by both the NBS and the Petroleum Products Pricing Regulatory Agency (PPPRA) released at the weekend indicate that N12, 529, 746, 397, 978. 48 was spent on the […]
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The Minister of State for Petroleum, Dr Ibe Kachikwu, said the nation’s refineries had been repositioned to produce not less than 10 million litres of Premium Motor Spirit (PMS), popularly known as petrol, per day. Kachikwu stated this on Sunday during his official visit to Kaduna Refining and Petrochemical Company (KRPC). According to him, the […]
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The Nigerian Nationla Petroleum Corporation (NNPC), through the National PMS Evacuation Report has said that the country currently has about 977.31 million litres of Premium Motor Spirit (PMS) in its land and marine depots. The report, which was released on Wednesday in Abuja, noted that the reserve would be enough to last the country for […]
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