Oil & Gas - Abia ThinkTank News

Jan

21

2025

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By Abia ThinkTank

FG Approves Licence For 10,000 Barrels Per Day Refinery In Delta State

Business, FGN, News Flash, Oil & Gas

FG Approves Licence For 10,000 Barrels Per Day Refinery In Delta State The Federal Government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority, has announced the approval of a licence for the construction of a new refinery. The approval was given to MRO Energy Limited, an energy company for the construction of a 10,000 Barrels Per Stream Day Refinery at Imode In Ughelli, Delta State, This development comes two months after the authority granted a license to Process Design and Development Limited to establish and construct a new 27,000 barrels per day refinery located in Dole-Wure, Akko area of…

Jan

20

2025

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By Abia ThinkTank

Diezani Denies Ownership Of Repatriated $52.8m Loot, Reveals Real Owner’s Name

Crime, News Flash, Oil & Gas, Politics

Diezani Denies Ownership Of Repatriated $52.8m Loot, Reveals Real Owner’s Name Diezani Alison-Madueke, former Minister of Petroleum Resources, has distanced herself from the $52. 8m recently repatriated to Nigeria from the United States of America (USA). Contrary to reports, the ex-minister, who has been in the United Kingdom (UK) since she left Nigeria, said the money does not belong to her. In a statement titled “There is no such thing as Diezani Loot, Alison-Madueke claimed the money that was reportedly linked to her belongs to a Nigeria’s oil magnate, Kola Aluko. In the statement released through her counsel, Prof. Mike…

Jan

20

2025

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By Abia ThinkTank

Dangote Partners 3 Petrol Stations, Announces New Price Nationwide

Economy, Business, News Flash, Oil & Gas

Dangote Partners 3 Petrol Stations, Announces New Price Nationwide Dangote Refinery has assured Nigerians that three of its partners will sell petrol for ₦970 per litre nationwide despite the company’s recent increase in the ex-depot price of petrol. A spokesman for the refinery Anthony Chiejina said the recent adjustment in the company’s ex-depot price “is directly related to the significant increase in global crude oil prices”. In a statement on Sunday, Chiejina said, “While we have made a 5% adjustment to our ex-depot price from N899.50 to N950 per litre, it is important to note that this increase is considerably…

Jan

18

2025

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By Abia ThinkTank

Another Transformative Opportunity As Abia State Hosts A Refinery… – By Dr. Chukwuemeka Ifegwu Eke

Abia State, Columns/Opinions/Letters, Economy, Good Governance, Oil & Gas

Abia State hosts a refinery… The prospect of Abia State hosting a refinery presents a transformative opportunity for the region, poised to catapult the state into a hub of industrial activity and economic growth. With the potential to generate significant revenue, create thousands of jobs, and stimulate local economic development, a refinery in Abia State could be a game-changer for the local economy, positioning the state as a key player in Nigeria's oil and gas industry. Economic BenefitsHosting a refinery in Abia State could have a significant impact on the state's economy. According to a study by the Nigerian National…

Jan

09

2025

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I Grew From Almajiri School To Become NNPCL GCEO – Kyari On His Birthday

Education, News Flash, Oil & Gas, Personality

I Grew From Almajiri School To Become NNPCL GCEO – Kyari On His Birthday The Group Chief Executive Officer, Nigerian National Petroleum Company Limited (NNPCL), Mallam Mele Kyari has disclosed that he went from being an Almajiri school pupil to becoming the head of the national oil company. Kyari stated this on his X handle, @MKKyari, on Wednesday as he celebrated his 60th birthday. He expressed profound gratitude to Nigeria for the opportunities that came his way from his humble beginnings to the height he has attained. He thanked Nigeria and particularly former President Muhammadu Buhari and incumbent President Bola…

Jan

07

2025

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By Abia ThinkTank

Audit Report Indicts NNPCL Of Diverting N514 Billion

Crime, Economy, News Flash, Oil & Gas

Audit Report Indicts NNPCL Of Diverting N514 Billion A report by the office of Nigeria’s Auditor-General has indicted the Nigerian National Petroleum Company Limited (NNPCL) for alleged misappropriation of funds and diversion of revenue meant for the Federation in 2021. The indictments are contained in the 2021 Auditor-General’s annual report published in November 2024. The 558-page report was recently submitted to the National Assembly as Nigeria’s Constitution provides. The report shows a troubling blend of questions bordering on misappropriation of funds involving the NNPCL. In one case, the auditor general indicted the state-owned oil firm of unauthorised deductions of N82.9…

Dec

25

2024

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By Abia ThinkTank

Court Remands Refinery MD In Kuje Correctional Centre Over Alleged $35m Fraud

Crime, Judiciary, News Flash, Oil & Gas

Court Remands Refinery MD In Kuje Correctional Centre Over Alleged $35m Fraud The Economic and Financial Crimes Commission, on Monday, December 23, 2024, arraigned the Managing Director of Atlantic International Refinery and Petrochemical Limited, Akindele Akintoye at the Federal High Court, Abuja, over an alleged $35 million fraud. He was arraigned before Justice Emeka Nwite on charges bordering on money laundering and contract fraud. Easy Ways to obtain German citizenshipBest Online RouletteOn October 31, 2024, Akintoye was arrested by the EFCC and detained at its holding facility in Abuja. According to a tweet via the commission’s X handle on Wednesday,…

Dec

24

2024

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Opinion: Drilling Crude Oil Does Not Harm The Environment. The Process/Technology Does. Improve It – Dr. Chukwuemeka Ifegwu Eke’s Interview With NTA

Abuja, Columns/Opinions/Letters, Interviews, Oil & Gas

Drilling Crude Oil does not harm the environment. The Process/Technology does. Improve it! This interview was pulled down by YouTube and Facebook. Good evening, I'm pleased to be discussing Nigeria's path to net-zero carbon emissions. While many advocate for an immediate end to drilling and mining, I'd like to offer a nuanced perspective. The extraction of crude oil and coal isn't inherently harmful to the environment; it's the outdated technologies used that cause damage. As we transition to renewable energy, job creation and preservation must be our top priority. We cannot overlook the livelihoods of those employed in the fossil…

Dec

16

2024

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NNPC Reduces Petrol Pump Price Across It’s Retail Outlets

Business, Economy, News Flash, Oil & Gas

NNPC Reduces Petrol Pump Price The Nigerian National Petroleum Company Limited (NNPCL), has reduced the pump price of Premium Motor Spirit (PMS), also known as petrol across its retail outlets. According to Tribune Online correspondent who visited the NNPCL retail outlets in Ibadan observed that petrol, which was sold between N1,025 to N1,040 per litre, has been reduced to N1,015 per liter. This represents N10 to N25 reduction from its previous price. Also, Daily Post reports that the nation’s oil company has also reduced its pump price across its retail outlets in the Federal Capital Territory (FCT). In the FCT,…

Dec

14

2024

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By Abia ThinkTank

Hope For Nigeria As Petrol Landing Cost Crashes Further

Economy, FGN, News Flash, Oil & Gas

Hope For Nigeria As Petrol Landing Cost Crashes Further The estimated landing cost of Premium Motor Spirit (PMS), commonly known as petrol, in Nigeria has seen a decline of ₦36, dropping to ₦900.28 per litre as of Thursday. This marks a 3.62% decrease from the previous week’s landing cost of ₦936.75 per litre, according to data released by the Major Energy Marketers Association of Nigeria (MEMAN). Interestingly, earlier this week, costs had even dipped further, reaching ₦890.43 per litre. This reduction in landing cost reflects some relief from fluctuations in global oil prices and improvements in supply chain dynamics. Despite…