Oil & Gas

Soludo’s Heavy Taxation: IPMAN Threatens Strike In South East

Soludo’s Heavy Taxation: IPMAN Threatens Strike In South East

IPMAN threatens strike in South-East over Soludo’s heavy taxation Leaadership of Independent Petroleum Marketers Association(IPMAN), Enugu Depot says the over taxation of its members by the Anambra state government might lead to down tooling and shutting down fuel selling operations in the state within the next two weeks. Chairman, Mr Chinedu Anyaso who stated this shortly after he was re elected to pilot the Affairs of the members for a second term promised that he will continue to work hard to ameliorate the difficulties facing its members in their businesses. He said the challenge is highly prevalent in Anambra State,…
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Petroleum Commission Key Departments To Relocate To Lagos

Petroleum Commission Key Departments To Relocate To Lagos

Petroleum Commission To Relocate Key Departments To Lagos The Nigerian Upstream Petroleum Regulatory Commission is exploring the possibility of relocating certain units to Lagos, Politics Nigeria can report. This was contained in a memo dated February 14, 2024 and seen by our reporter. The commission noted said the decision was based on “the need to enhance our service delivery, reduce operational costs, and make adequate utilization of our assets in Lagos”. The memo reads: “In line with our objectives of improving organizational efficiency, driving industry growth, and managing office accommodation in Abuja, we are exploring the possibility of relocating certain…
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Nigerian Navy Uncovers Massive Illegal Refineries In Rivers

Nigerian Navy Uncovers Massive Illegal Refineries In Rivers

Massive Illegal Refineries With 2.7m Litres Refining Capacity Per Day Uncovered In Rivers The Nigeria Navy has uncovered 15 massive illegal refining camps, each equipped with six cooking pots and metal storage tanks with capacity to hold about 30,000 litres of crude oil, culminating in about 2.7 million litres of crude oil illegally refined per day at Ke community in Degema, Rivers State. Commodore Desmond Igbo, the Commander, Nigeria Navy Ship (NNS) Pathfinder, Port Harcourt led journalists to the illicit refining sites at Ke community in Degema on Friday. Igbo said the troops uncovered the illegal refineries as part of…
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After Refinery Takeoff, Dangote Investors Gain N1.2 Trillion

After Refinery Takeoff, Dangote Investors Gain N1.2 Trillion

Dangote Investors Gain N1.2 Trillion After Refinery Takeoff Spread the loveEquity investors in the stocks of companies under the Dangote Group have gained over 1.2tn during the first two trading sessions of this week. This marked increased appetite in the stocks of the companies listed on the Nigerian Exchange Limited, following the commencement of the production by the Dangote Petrochemical Refinery. Dangote Petroleum Refinery said it had commenced production of diesel and aviation fuel on Friday. The listed companies; Dangote Cement Plc, Dangote Sugar Refinery Plc and NASCON Allied Industries Plc; the latter companies are in the middle of a…
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Private Operators To Handle Port Harcourt Refinery

Private Operators To Handle Port Harcourt Refinery

NNPCL To Hand Over Port Harcourt Refinery To Private Operators As the Port Harcourt oil Refinery comes to life, the Nigerian National Petroleum Company Limited has concluded plans to hand over the government refinery to private operators. The NNPCL said it is seeking to engage reputable and credible operations and maintenance companies to operate and maintain the Port Harcourt Refining Company. This, it said, was “to ensure reliability and sustainability towards meeting the nation’s fuel supply and energy security obligations.” In a publication on its website on Monday, the NNPCL said the contract scope shall cover refinery business processes like…
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Breaking News: Dangote Refinery Begins Production

Breaking News: Dangote Refinery Begins Production

NEWSBREAKING: Dangote Refinery Begins Production Spread the loveProduction at the Dangote Refinery and Petrochemical Company commenced on Friday. The refinery received the fifth crude oil shipment of one million barrels of Bonny Light supplied by the Nigerian National Petroleum Corporation Limited last week. The 650,000 barrels per day oil processing facility started operations in May 2023. It is designed to process crude oil grades from the three continents of Africa, Asia and America. More details later…
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NNPC Donates N200k PMS Voucher To Lady Mocked

NNPC Donates N200k PMS Voucher To Lady Mocked

NNPCL Donates N200,000 PMS Voucher To Lady Mocked For Waking Up At 4:50am To Cook For Husband A Nigerian woman has continued to garner support from numerous users who were impressed by her exemplary wifey duties. Criticism from certain women spurred netizens to contribute, resulting in donations exceeding N2 million for her. The lady identified as MumZee was criticised for disclosing that she wakes up at 4.50am daily to prepare food for her husband. She went viral after she shared on X how she started waking up at 4:50 am to cook for her husband after her husband told her…
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Jubilation As Port Harcourt Refinery Commence Operation

Jubilation As Port Harcourt Refinery Commence Operation

Nationwide Jubilation As Portharcourt Refinery Commences Operation The Port Harcourt Refining Company, PHRC, Limited, with a combined capacity of 210,000 barrels per day, commenced operation on Wednesday. According to a video sighted by our correspondent, the refinery’s flare indicated the commencement of oil refining. The development comes months after the Minister of State for Petroleum (Oil) Senator Heineken Lokpobiri said in August that the Port Harcourt refinery will commence operation in December 2023. According to the Minister, the objective is to ensure the country stops importing fuel. Corroborating Lokpobiri’s stance, the Nigerian National Petroleum Corporation Limited, NNPCL, declared that importing…
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Refineries Not Created To Reduce Petrol Price – NNPC Boss Kyari Clarifies To Senate Committee

Refineries Not Created To Reduce Petrol Price – NNPC Boss Kyari Clarifies To Senate Committee

Refineries Not Created To Reduce Petrol Price – NNPC Boss Kyari Clarifies The Nigerian National Petroleum Company (NNPC) Limited Group Chief Executive Officer (GCEO) Mele Kyari has clarified that the primary goal of rehabilitating the nation’s refineries is not to reduce petrol prices. The NNPP boss made the comment while appearing before a joint Senate committee. Mr. Kyari’s statement comes in response to questioning by the committee, particularly regarding the potential impact of functional refineries on petrol prices. While acknowledging the possibility of a price decrease, he stressed that this was not the main objective. Kyari further said the NNPC…
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