Business Specials

Nigeria scraps fuel subsidy, cuts petrol price to N85 per litre

An attempt by the government to cut fuel subsidy in 2012 led to what came to be known as the #OccupyNigeria protest.

Kaduna Refinery boosts local fuel supply with 3.2 million litres of petrol, says NNPC

Fuel production in Kaduna Refinery increased from 1.5 million litres per day to 3.2 million litres of petrol daily

Finance minister revokes oil, gas pre-shipment tender process

​The ministry is to come up with fresh bidding process.

2016 Budget Speech: “The Budget of Change”, By Muhammadu Buhari

The Nigerian economy needs to move away from dependency on oil. Our growth must be inclusive.

Kaduna refinery restarts production

The refinery will produce 1.6 million litres of petrol daily.

Redrafted PIB stirs fresh anxiety among oil workers

Three groups petition PENGASSAN, demand urgent meeting with Minister Ibe Kachikwu

NEITI hails plan to remove fuel subsidy

Labour opposes the plan to remove fuel subsidy.

NNPC awards new crude oil lifting contracts to 21 firms

Nigerian firms were awarded contract to lift 41 per cent of total crude allocation.

Two refineries to restart production before 2016 – Minister

The government is considering engaging private investors to build new refineries.

Dutch court set to rule on case seeking to hold Shell liable for Niger Delta degradation

The United Nations says it would cost $1 billion in five years to clean Ogoni land alone, which is just one area of Shell’s operation.

Nigeria to revert petrol price to N97 per litre in gradual phase-out of subsidy

Mr. Kachikwu says total subsidy figure for 2015 is in excess of N1trillion

Oil rig

Glut likely as oil tumbles towards 11-year lows

Gulf producers and Russia say they won’t cut output.

Folawiyo Energy dissociates self from fuel scarcity controversy

“FEL’s Apapa depot has not held commercial stock since 20 September 2015.”

​​Oando Plc ​to raise N80bn from existing shareholders

The company posted a loss of N48 billion in the first nine months of 2015.

Nigeria opts for private investors for 2016 joint venture funding

NNPC to launch “Clean Nigeria After Oil Initiative”

OPEC fails to stabilise crude oil market as price drops further

Kachikwu presides over meeting as OPEC President.

2013 NEITI audit: Oil firms get extension to review, reconcile draft report to avoid conflict

NEITI Companies’ Forum has now been inaugurated

Nigeria loses 531million litres of petrol to vandals – NNPC

Senate gives 14 days ultimatum to restore normalcy in fuel supply crisis

How alleged corruption in NNPC is fueling petrol scarcity

The NNPC is still continuing with the corruption-filled Overseas Processing Agreements .

How alleged corruption in NNPC is fueling petrol scarcity

The NNPC is still continuing with the corruption-filled Overseas Processing Agreements.

Oil rig

Global oil crisis: Nigerian oil workers resist mass sack

“PENGASSAN will not tolerate this unacceptable and unprocedural redundancy…”

​NNPC discards offshore processing arrangement for Nigeria’s crude

Mr. Alegbe says the Direct Sale-Direct Purchase w​ould​ be adopted.

Nigeria’s refineries only worked at 1.96 per cent capacity in September

NNPC generated N44.2 billion from the sale of white petroleum products in August.

​Contract dispute: Court urges Agip, Arco to settle rift

The case has been adjourned till December 3 for ruling.

91 companies bid for NNPC’s contract for coastal bunkering vessels service

The NNPC says the bidding process is being handled transparently.