LAGOS FEBRUARY 17TH (NEWSRANGERS)-Nigeria’s state-run oil company said it had started a 24-hour distribution of petrol to service stations to end a week-long scarcity that has caused traffic snarls in major cities. The fuel shortage which started last week in the commercial city of Lagos and administrative capital Abuja has caused long queues with few…
LAGOS JANUARY 28TH (NEWSRANGERS)-Nigeria National Petroleum Commission (NNPC) has advised Nigerians not to panic over media reports of recent queues experienced in some petrol stations in Abuja and some other parts of Nigeria. The Corporation in a press statement signed by Group General Manager, Group Public Affairs Division NNPC Limited, Garba Deen Mohammed sighted by…
LAGOS JANUARY 19TH (NEWSRANGERS)-The federal government may increase the price of Premium Motor Spirit (PMS), better known as petrol, to N302 per litre in February 2022 as part of the recommendation of the National Economic Council (NEC) in November 2021. Moneycentral understands that this is part of the government’s plan to fully deregulate the PMS…
LAGOS AUGUST 18TH (NEWSRANGERS)-The Controller General of Nigeria Customs Service, Hameed Ali, has blamed the Nigerian National Petroleum Corporation (NNPC) for the high rate of smuggling of fuel across Nigerian borders. He said he had on many occasions proposed to the NNPC to establish petroleum retail outlets in neighbouring countries to curtail smuggling of fuel…
LAGOS AUGUST 11TH (NEWSRANGERS)-The world’s richest Black man, Aliko Dangote, could add more than $2.5 billion to his net worth depending on the terms of the sale of a 20 percent share of his oil refinery. Reuters reported last week Nigeria’s government has approved its state oil firm the Nigerian National Petroleum Corporation (NNPC), to…
LAGOS JUNE 22ND (NEWSRANGERS)-A Federal High Court in Abuja has ordered Mobil Producing Nigeria Unlimited and the Nigerian National Petroleum Corporation (NNPC) to pay the sum of N81.9 billion as cumulative damages to the oil communities in Ibeno Local Government Area of Akwa Ibom over oil spillage within 14 days. This follows the case filed…
LAGOS MAY 12TH (NEWSRANGERS)-Nigeria’s state oil firm NNPC has picked 16 consortia for its new crude-for-fuel swap contracts for one year starting in August, sources with direct knowledge of the matter said. The list includes major Swiss trading firms Trafigura, Vitol and Mercuria, oil major Total as well as large Nigerian traders Sahara Energy, Oando…
LAGOS MARCH 27TH (NEWSRANGERS)-The Nigerian National Petroleum Corporation (NNPC) has said it would maintain its current ex-depot price of Premium Motor Spirit (petrol) until the conclusion of ongoing engagement with the organized labour and other stakeholders. In a statement on Friday by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, said the…