Subsidy Removal Will Increase Investor Interest In Local Refineries, Says Abdulhafiz Barau Umar

A renowned businessman, Abdulhafiz Umar Barau, has said that fuel subsidy is like a cancer to the Nigerian economy. Abdulhafiz Umar Barau, a Diaspora businessman, further says that removing the subsidy is the best option for Nigeria’s economy to survive a complete collapse. In an exclusive interview with Swift Reporters, Barau said, “Aside from the fact that the subsidy was […]

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NMDPRA Grants Petrol Import Licence To 56 Oil Marketing Firms

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said it had issued licence to import petrol into the country to 56 oil marketing companies. Chief Executive Officer of NMDPRA, Mr. Farouk Ahmed, revealed this yesterday in Lagos, during a stakeholder engagement session with petroleum marketers, disclosing that 10 of the 56 firms have shown commitment to supply products from […]

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Private Security Contractors Intercept 800,000 Litre Capacity Vessel With Stolen Crude Oil

Following the receipt of credible intelligence, a Private Security Contractor engaged by NNPC Ltd., Messrs. Tantita Security Services, intercepted a suspicious Vessel with a Cargo of Crude oil on board on July 7, 2023. The Vessel, MT TURA II (IMO number: 6620462), owned by a Nigerian Registered Company, HOLAB MARITIME SERVICES LIMITED with Registration Number RC813311, was heading to Cameroun […]

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NNPCL Plans Another $8bn International Gas Pipeline

The Group Chief Executive Officer, of Nigerian National Petroleum Company Limited, Mele Kyari, on Thursday, announced that the NNPCL would be constructing another international gas pipeline worth about $8bn. NNPCL and its partners are currently working on the construction of the $25bn Nigeria-Morocco gas pipeline that is to supply gas from Nigeria to about 11 African countries and transport the […]

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Kyari Pays Sallah Homage To Tinubu In Lagos

In keeping with the Eid-El-Kabir celebration, Mallam Mele Kolo Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, paid President Bola Tinubu a visit on Thursday at his residence in Lagos. In a tweet on his Twitter page, Kyari stated to have visited the President with Mr. Folashodun Shonubi, the acting governor of the Central Bank […]

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PIA, A Time Bomb, Says Gov Diri

….Seeks Review Of Act Bayelsa State Governor, Senator Douye Diri, has advocated an amendment to the Petroleum Industry Act (PIA) to address the flaws in the legislation. Governor Diri also said the review would go a long way in tackling the ongoing crisis between oil companies and their host communities. Describing the Act as a time bomb, the governor emphasized […]

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Nigeria, Morocco, Cote d’Ivoire, Liberia, Benin, Guinea Sign MoUs On Nigeria-Morocco Gas Pipeline

The Nigerian National Petroleum Company Limited (NNPC) on Friday, 16th June 2023 achieved another important milestone at the headquarters of the Economic Community of West African States (ECOWAS) as four significant Memoranda of Understanding related to the Nigeria Morocco Gas Pipeline Project were signed. According to a press release signed by the Chief Corporate Communications Officer, NNPC Limited, Garba Deen […]

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Fuel Subsidy Removal: NMDPRA Meets Oil Marketers

The Authority held a meeting today with oil marketing companies to raise awareness of the requirements of the Petroleum Industry Act (PIA) regarding the full deregulation and importation of petrol. The Authority Chief Executive, Engr. Farouk Ahmed emphasized the urgent need for product standardization to prevent situations where consumers might be cheated by the importation of off-spec products into the […]

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