The Major Energies Marketers Association of Nigeria (MEMAN) has started the supply of 300 million litres of premium motor spirit, also known as petrol, to its members to cushion the effect of fuel scarcity, leading to queues at various fuel stations across the country. According to the Association, its members in Apapa and other locations […]Read More
The Management of the Nigerian National Petroleum Company (NNPC) Limited has said that the rehabilitation of the Kaduna Refining and Petrochemicals Company (KRPC) will be completed by the end of 2024 after years of being shut down due to lack of maintenance. Mustafa Sugungun, Managing Director of KRPC, made this known on Monday during an […]Read More
Although the beginning of the year offered mixed signals for the global economy, US markets today continue to experience positivity. Prices for general markets witnessed an uptrend in late February, followed by a continuation in March and a reversal in April. Fueled by buyer sentiment, the S&P 500 index notched its best first quarterly performance […]Read More
The Board of Directors of Seplat Energy has appointed Eleanor Adaralegbe as Executive Director effective May 1, 2024. She will also be the Chief Financial Officer effective May 21, 2024. According to the board, Emeka Onwuka is set to retire as Executive Director of Seplat Energy effective May 1, 2024. The board revealed previously in the half-year 2023 financial […]Read More
Despite assurances from the Nigeria National Petroleum Corporation (NNPC) Limited that issues causing fuel scarcity have been resolved, the situation continues to deteriorate in Lagos, Ogun State, Abuja, and other parts of the country. Last week, NNPC spokesperson Olufemi Soneye issued a press release asserting that all factors contributing to fuel scarcity had been addressed, […]Read More
TotalEnergies has seen its first-quarter adjusted net income drop by 22% from a year ago, but the French supermajor’s adjusted earnings beat the consensus estimate. Stable oil prices and healthy refining margins failed to fully offset a decline in natural gas prices, but helped TotalEnergies beat analyst forecasts as it reported Q1 earnings on Friday. […]Read More
The Nigerian National Petroleum Company (NNPC) Limited has announced the signing of an agreement with African Refinery for a share subscription agreement with Port-Harcourt Refinery. According to the state-owned oil company, the agreement will see the co-location of a 100,000 barrels per day (bpd) refinery within the Port-Harcourt Refinery complex. This was made known in […]Read More
Oilprice.com Oil prices have held steady week on week despite a significant inventory build in U.S. crude two weeks ago, which was countered by a draw in U.S. crude stockpiles for the week ending April 19th. Next to this, traders have become less concerned about a potential supply disruption in the Middle East. The crude inventory build at the […]Read More
Dangote Petroleum Refinery has further reduced the prices of Automotive Gas Oil, popularly known as diesel, to N940 per litre, making it the third time the company has reduced the prices of the commodity. The refinery also reduced the prices of aviation fuel to N980 per litre. This is coming in the wake of its […]Read More
The Nigerian National Petroleum Company (NNPC) Limited and Newcross Exploration and Production Ltd, its Joint Venture partner in the Awoba Unit Field, have targeted ramping up Awoba Unit Field to 12,000 barrels per day (bpd) in May. In a release signed by Olufemi O. Soneye, Chief Corporate Communications Officer of the NNPC Ltd., the state-owned […]Read More
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