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Tags: Crude Oil

Are we on the verge of another  scarcity?

Are we on the verge of another scarcity?

Should the Federal Government fail to settle outstanding debts totalling N800 billion, there may be a fuel scarcity during the festive season as oil marketers have unanimously issued a seven-day ultimatum to the President Muhammadu Buhari-led administration. The oil marketers, comprising Major Oil Marketers Association of Nigeria (MOMAN), Depot and Petroleum Products Marketers Association (DPPMA) and… READ MORE

Propane’s role in improving health, environmental standards

In India, Indonesia, China, parts of Africa and developing nations around the world, many women are spending hours every day cooking over flames fueled by wood, charcoal, animal dung or kerosene. In order to feed themselves and their families, they are exposed to deadly air pollutants produced by these fuels. According to the World Health Organization… READ MORE

Propane production consistently exceeding 2 million bpd

Propane production consistently exceeding 2 million bpd

Throughout the summer, we monitor inventory builds very carefully and provide data and analysis in our daily reports. By this time of year, we usually start monitoring heating degree-days and only report on the inventory data when the Weekly Petroleum Status Report from the Energy Information Administration is released. We typically make the switch when… READ MORE

Ghost companies allegedly lift N1.1trn worth of crude oil

Ghost companies allegedly lift N1.1trn worth of crude oil

Some indigenous companies not registered by the Corporate Affairs Commission (CAC) have lifted Nigerian crude oil grades valued at U.S.$3.5 billion (about N1.1 trillion) in the last 10 months, Daily Trust reports. A four-month enquiry into Nigerian and global corporate registries by Daily Trust showed that the repeated failure by the Nigerian National Petroleum Corporation (NNPC) to… READ MORE

Reps give oil firms two weeks ultimatum to remit $250 million to Nigerian govt

Reps give oil firms two weeks ultimatum to remit $250 million to Nigerian govt

The House of Representatives Committee on Oil and Gas on Thursday gave 10 indigenous oil companies in the country two weeks to remit 250 million dollars oil royalty to federal government’s coffers. Jerigbe Agom, the chairman of the committee, gave the ultimatum at the ongoing sitting over unremitted funds in the industry. According to the… READ MORE

Nigeria Earns N362.43bn From Crude Oil Export in June

Nigeria Earns N362.43bn From Crude Oil Export in June

Nigeria’s crude oil earning increased from the N253.02billion in June, to N362.43billion in July, according to the National Bureau of Statistics (NBS). This comes as stakeholders in the oil and gas industry have underscored the drawbacks of the Petroleum Industry Governance Bill (PIGB), saying that the bill failed to address some critical issues in the… READ MORE

Vandals doing harm to economy, NNPC cries out

Vandals doing harm to economy, NNPC cries out

The Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru, has appealed to oil pipeline hackers to desist from such nefarious act which, according to him, is not only harmful to the environment, but equally hazardous to the pipeline vandals and the economy. Speaking while receiving a delegation of the Nigerian Environmental… READ MORE

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