Oil & Gas - Abia ThinkTank News

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…

Dec

12

2024

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By Abia ThinkTank

President Tinubu Advised To Reduce Fuel Price To N300/Litre For Xmas, New Year Celebration

Columns/Opinions/Letters, FGN, Oil & Gas, Politics

Tinubu Advised To Reduce Fuel Price To N300/Litre For Xmas, New Year Celebration Former Deputy National Chairman of the Peoples Democratic Party (PDP), Chief Bode George, has called on President Bola Tinubu to reduce the price of premium motor spirit (PMS) also known as petrol to N300 per litre between December and January. He said this would enable Nigerians to have a joyous and merry Christmas. A litre of fuel is presently sold at about N1,100 and N1,200 per litre across the country following the removal of fuel subsidy. Tinubu had on assumption of office in 2023 declared an end…

Dec

07

2024

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By Abia ThinkTank

NNPC Shuns Local Market, Begins Export Of Petrol From Port Harcourt Refinery To Dubai

Business, Economy, News Flash, Oil & Gas

NNPC Shuns Local Market, Begins Export Of Petrol From Port Harcourt Refinery To Dubai The Nigerian National Petroleum Company (NNPC) has begun the export of petrol from the Port Harcourt Refinery to Dubai, shunning the local market. The Port Harcourt Refinery which began operations in November following rehabilitation shipped its first export of petroleum products to Dubai, with the company expected to load the cargo onboard the Wonder Star MR1 ship in the coming days. The ship will load 15,000 metric tons of the product, which translates to about 13.6 million litres. It is understood that the sulfur content of…

Dec

02

2024

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By Abia ThinkTank

Port Harcourt Refinery Working Effectively – Nigerian Society Of Chemical Engineers Knocks Critics

News Flash, Oil & Gas, Politics

Port Harcourt Refinery Working Effectively – Nigerian Society Of Chemical Engineers Knocks Critics The Nigerian Society of Chemical Engineers, has given the Port Harcourt Refinery a clean bill of health, declaring that the plant is running, contrary to claims made by critics about the facility. National President of the Association, Mr Tony Ogbuigwe, who said this in an interview, declared that chemical engineers who are on the ground have confirmed that the installation is back in operations after over 20 years. Ogbuigwe also declared that refining and refinery operations are scientific and the process has no room for emotion or…

Dec

01

2024

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By Abia ThinkTank

It Would Shock Nigerians The Calibre Of People Who Escort Illegal Oil Bunkers – Fisayo Soyombo

Crime, Columns/Opinions/Letters, Economy, Oil & Gas

It Would Shock Nigerians The Calibre Of People Who Escort Illegal Oil Bunkers – Fisayo Soyombo The founder of the Foundation for Investigative Journalism (FIJ), Fisayo Soyombo, who was just released by the Nigerian Army has revealed that he was conducting an undercover investigation when he was arrested by the Nigerian Army. Soyombo also expressed worry about the kind of security cover available for oil bunkerers in the country. He said this while speaking in an interview on AriseTV morning show. “It would shock you the kind of people who escort illegal oil bunkers out of Port-Harcourt. “The army spokesman…

Nov

26

2024

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By Abia ThinkTank

President Tinubu Celebrates Port-harcourt Refinery Revival, Gives Fresh Order To NNPC

FGN, News Flash, Oil & Gas, Presidency

Tinubu Celebrates Port Harcourt Refinery Revival, Gives Fresh Order To NNPCL President Bola Tinubu has extended his heartfelt congratulations to the Nigeria National Petroleum Company Limited (NNPCL) on the successful revitalisation of the Port Harcourt refinery, marked by the official commencement of petroleum product loading on Tuesday. A statement by Special Adviser to the President (Information & Strategy), Bayo Onanuga on Tuesday, said the president acknowledged the pivotal role of former President Muhammadu Buhari in initiating the comprehensive rehabilitation of all the country’s refineries. He also expressed gratitude to the African Export-Import Bank for its confidence in financing this critical…

Nov

25

2024

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By Abia ThinkTank

Dangote Refinery Jet Fuel Exported To London, Iceland, Other Global Airports

Business, Economy, FGN, News Flash, Oil & Gas

Dangote Refinery Jet Fuel Exported To London, Iceland, Other Global Airports The Dangote Refinery has successfully exported its jet fuel to various international destinations, including airports in Iceland, Tenerife, and London. According to a report by SP Global Commodity Insights, the refinery’s Nigerian-made aviation fuel has reached prominent locations such as Heathrow Airport in the UK, as the petrochemical facility continues to scale up production. The report further highlights that between January and October this year, the majority of the refinery’s supply has been delivered to the Lome transshipment hub off Togo. South Korea has also emerged as the largest…

Nov

24

2024

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By Abia ThinkTank

Economic Hardship: Dangote Reduces Petrol Price

Economy, News Flash, Oil & Gas

Dangote Reduces Petrol Price The Dangote Petroleum Refinery has announced a reduction in the price of Premium Motor Spirit (PMS) from ₦990 per litre to ₦970 per litre for marketers. The announcement was made in a statement issued by Anthony Chiejina, the Group Chief Branding and Communications Officer. The statement read: “As the year comes to an end, this is our way of appreciating the good people of Nigeria for their unwavering support in making the refinery a dream come true. In addition, this is to thank the government for their support, as this will complement the measures put in…

Nov

14

2024

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By Abia ThinkTank

NNPC Sack Top Officials, Names Replacements In A Major Shake-Up

Business, News Flash, Oil & Gas

NNPC Sacks Top Official, Names Replacement In A Major Shake-up The Nigerian National Petroleum Corporation (NNPC) has announced the removal of Umar Ajiya as the Chief Financial Officer (CFO) and the appointment of Mr. Adedapo A. Segun as his replacement. This was disclosed in a statement released on Wednesday by the company’s spokesperson, Olufemi Soneye, via NNPC’s official X (formerly Twitter) handle. In addition to this change, the company also appointed Isiyaku Abdullahi as the Executive Vice President (EVP) of Downstream Operations. Furthermore, Udobong Ntia has been named the Executive Vice President (EVP) of Upstream Operations, completing a significant reshuffle…

Oct

30

2024

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By Abia ThinkTank

Ghana Proposes To Import Petroleum From Dangote Refinery – Official

Economy, News Flash, Oil & Gas

Ghana To Import Petroleum From Dangote Refinery – Official The National Petroleum Authority of Ghana says it is proposing to import refined petroleum products from Dangote Refinery to boost its energy security and sustain business cooperation with neighbours. Mustapha Abdul-Hamid, chief executive officer, NPAG, said this at the 2024 OTL Africa Downstream Energy Week on Tuesday in Lagos. Speaking as one of the panellists, Abdul-Hamid said that the move was aimed at strengthening Ghana’s energy security and to deepen regional economic cooperation. The 2024 OTL, 18th edition, has the theme ‘Alliances for Growth’. According to Mr Abdul-Hamid, Ghana is seeking…