The Federal Government will be spending between $1.4bn and $1.8bn to rehabilitate the nation’s refineries within two years in its bid to reposition the oil and gas sector. The rehabilitation will be carried out with the participation of the private sector. This is one of the highlights of the road map for the development of […]
Read More The Managing Director of the Warri Refining and Petrochemical Company, Engr. Solomon Ladenegan, on Tuesday disclosed that the current production capacity of the refurbished plant has reached 2.5 million litres of Premium Motor Spirit (PMS) and 2.2m of kerosene per day. Ladenegan made the disclosure during the commissioning of a community road constructed by WRPC […]
Read More A Russian firm, Safinet Group, has expressed interest in establishing a 7,000-barrels-per-day-capacity refinery in Calabar with a plan to increase its capacity to 65,000bpd in the near future, Punchng report. The Chairman, Safinet, Mr. Arsen Mudonov, disclosed this during a meeting with the Cross River State Governor, Prof. Ben Ayade, in Calabar, recently. Mudonov was […]
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AFTER waiting on the queue for more than four hours to buy premium motor spirit, otherwise known as petrol in Abuja, a taxi driver, Adebayo Olawole considered himself fortunate he got a half-filled tank. The day before, he got to the front of the line and was told there was none left, The Nation report. […]
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THE Independent Petroleum Marketers Association of Nigeria (IPMAN) on Tuesday commended Dangote Group for its plans to invest 14 billion dollars (N2.8 trillion) in oil refinery and petrochemical complex. Mr Mike Osatuyi, the National Operations Controller of IPMAN, gave the commendation in an interview with the News Agency of Nigeria (NAN) in Lagos. Osatuyi appealed […]
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The Nigerian National Petroleum Corporation on Tuesday announced that the nation’s three refineries in Kaduna, Port Harcourt and Warri had attained a combined daily production capacity of over 6.76 million litres of petrol. The corporation said in a statement by its Group General Manager, Group Public Affairs Division, Ohi Alegbe, that petrol production was projected […]
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The Bayelsa State Command of the Nigeria Security and Civil Defence Corps, NSCDC, has disclosed that its operatives apprehended 40 suspected oil thieves, destroyed 106 illegal refineries along the recovery of a cache of arms in 2015. According to the state Commandant of the NSCDC, Mr. Desmond Agu, the command recorded an appreciable success in […]
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The Federal Government has been advised to sell off any of the nation’s refineries that fails to come back on stream as well as deregulate the downstream sector of the oil and gas industry. The National Operation Controller, Independent Petroleum Marketers Association of Nigeria, Mr. Mike Osatuyi, gave the advice while disclosing the Federal Government’s […]
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Minister of State for Petroleum Dr. Emmanuel Ibe-Kachukwu yesterday made some clarifications about the Petroleum Subsidy Fund (PSF), otherwise known as petrol subsidy. He said that there was no subsidy in the price of the Premium Motor Spirit (PMS). Kachikwu, who is also the Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), […]
Read More The Kaduna refinery has resumed production following its closure three months ago, the Managing Director, Kaduna Refining and Petrochemical Company Limited, Mr. Seidu Muhammed, has said. Three of the nation’s four refineries in Warri, Kaduna and Port Harcourt had resumed production of refined petroleum products in July after undergoing rehabilitation, but they were shut down […]
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