11 h. ago Oil production shortfall stifling Nigeria’s refining capacity

From Adewale Sanyaolu, Houston Texas The Petroleum Technology Association of Nigeria (PETAN) has lamented the country’s dwindling crude oil output, describing it as a major obstacle to unlocking Nigeria’s full refining capacity and achieving energy self-sufficiency. Chairman of PETAN, Mr. Wole Ogunsanya, stated this during an interview session with journalists on the sidelines of the […] The post Oil production shortfall stifling Nigeria’s refining capacity -PETAN appeared first on The Sun Nigeria.

Politics

5 d. ago Naira stabilises at N1,608/$1 amid rising brent crude prices

Experts push for stable output, clearer policies By Chinwendu Obienyi The naira traded steadily in the parallel foreign exchange market on Tuesday, exchanging at approximately between N1,608-N1,610 to the US dollar, as global oil markets rallied on the back of tightening supply and persistent geopolitical concerns. This steadiness comes as Brent crude prices have experienced […] The post Naira stabilises at N1,608/$1 amid rising brent crude prices appeared first on The Sun Nigeria.

Politics

5 d. ago Nigeria’s crude grades sell above $65 as OPEC agrees output hike

Nigeria’s premium crude oil grades are trading above $65 per barrel as global oil prices hold steady despite the Organisation read more Nigeria’s crude grades sell above $65 as OPEC agrees output hike

Politics

7 d. ago Petrol’s delicate dance: Lessons for Nigeria from global refining nations

The United States is a contradiction when it comes to petrol. On paper, it pumps out more crude than any read more Petrol’s delicate dance: Lessons for Nigeria from global refining nations

Politics

7 d. ago Nigerian crude falls below FG’s $65 benchmark as OPEC boosts output

From Adanna Nnamani, Abuja Nigerian crude prices have slumped below the federal government’s benchmark of $65 per barrel. This comes as the Organisation of Petroleum Exporting Countries (OPEC) continues to raise production despite growing geopolitical uncertainties. Cargoes loaded with Nigerian crude recently remain unsold, highlighting a lack of interest from buyers and sellers in the […] The post Nigerian crude falls below FG’s $65 benchmark as OPEC boosts output appeared first on The Sun Nigeria.

Politics

8 d. ago OPEC+ agrees another accelerated oil output hike for June, sources say

Eight OPEC+ countries meeting on Saturday have agreed to a further accelerated oil output hike for June of 411,000 barrels read more OPEC+ agrees another accelerated oil output hike for June, sources say

Politics

9 d. ago OPEC+ to meet on Saturday to set June output policy, sources say

Eight OPEC+ countries will meet on Saturday to decide whether to agree a further accelerated oil output hike for June read more OPEC+ to meet on Saturday to set June output policy, sources say

Politics

1 week ago Domestic crude sales – Key to unlocking Nigeria’s oil wealth

The recent handling of Nigeria’s naira-for-crude oil sales to local refineries has brought long-standing gaps in the nation’s economic planning read more Domestic crude sales – Key to unlocking Nigeria’s oil wealth

Politics

1 week ago Makinde Makes Case For Increased Investment In ICT, Artificial Intelligence

Oyo State governor, Seyi Makinde, has stressed the need for Nigeria to look beyond crude oil to embracing more investment in information technology and artificial intelligence as pathways to the future. In order to create lasting prosperity, Governor Makinde also charged Nigerian leaders to look after the people by investing more in education and entrepreneurship […]

Politics

1 week ago NUPRC Seek Fair Pricing From Oil Producers To Meet Domestic Supply Obligations

Commission chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, has called on crude oil producers in Nigeria to ensure fair pricing practices to fulfil domestic crude oil supply obligations. Komolafe made the appeal during a courtesy visit by the managing director of TotalEnergies, Mattieu Bouyer, to the Commission’s headquarters, in Abuja. […]

Politics

1 week ago Makinde: Nigeria must embrace innovation for sustainable prosperity

From Taiwo Oluwadare, Ibadan Oyo State Governor Seyi Makinde has urged Nigeria to shift from reliance on crude oil to achieve sustainable prosperity through investments in education, entrepreneurship, and technology. Speaking on Tuesday, April 29, at the commissioning of an IT Community Centre donated by First Lady Senator Oluremi Tinubu to the Oladipo Alayande School […] The post Makinde: Nigeria must embrace innovation for sustainable prosperity appeared first on The Sun Nigeria.

Politics

2 w. ago Edo: Nigeria loses 400,000 bpd to oil theft – Council boss, Attoh

From Sunday Ani The Etsako East Local Government Chair in Edo State, Princess Benedicta Attoh, has revealed that Nigeria loses over 400,000 barrels of crude oil daily, with the figure steadily rising. Speaking at the 4th anniversary and roundtable on sustainable development organised by the Centre for Sustainable Development, Federal University of Petroleum Resources, Effurun, […] The post Edo: Nigeria loses 400,000 bpd to oil theft – Council boss, Attoh appeared first on The Sun Nigeria.

Politics

2 w. ago Unsold 92m barrels of crude puts Nigeria’s N19.6trn oil revenue at risk

Nigeria’s oil sector, the lifeblood of its economy, is grappling with a burgeoning crisis as a staggering 92 million barrels read more Unsold 92m barrels of crude puts Nigeria’s N19.6trn oil revenue at risk

Politics

2 w. ago Asian, Mediterranean Refiners Major Beneficiaries Of Nigerian Crude Shipments In April

Asian and Mediterranean nations emerged as the leading destinations for Nigerian crude oil exported by International Oil Companies (IOCs) as well as the Nigerian National Petroleum Company Limited (NNPCL) in April. This is as local refiners voiced frustration over their continued exclusion from the country’s oil trade and criticised regulators for a lack of transparency. […]

Politics

2 w. ago IOCs Bypass Direct Crude Oil Supply To Dangote Refinery, Others

International Oil Companies (IOCs) operating in Nigeria have continued to bypass direct crude oil supply to local refineries, even as the nation grapples with an estimated 60 million barrels of stranded crude oil on the high seas. This persistent disconnect was compounding Nigeria’s struggle to ramp up domestic refining capacity and maximise oil revenues. LEADERSHIP […]

Politics

3 w. ago Bakare lambasts Tinubu, says his ‘motor park’ politics has destroyed NASS

By Chinelo Obogo Senior Pastor of the Citadel Global Community Church (CGCC), Pastor Tunde Bakare, has accused President Tinubu of promoting a crude ‘motor park’ style of politics that has destroyed Nigeria’s political institutions. Speaking during his state of the nation address in Lagos, themed: ‘Let the people know the truth and the country is […] The post Bakare lambasts Tinubu, says his ‘motor park’ politics has destroyed NASS appeared first on The Sun Nigeria.

Politics

3 w. ago Customs intercepts illicit drugs, crude oil, others worth over N1bn

By Steve Agbota Federal Operations Unit Zone ‘C’ Owerri of the Nigeria Customs Service (NCS), Friday, said that it intercepted illicit drugs and other contraband worth over N1.010 billion within one month. Notable among the illicit goods intercepted include bales of Cannabis Sativa, parcels of Canadian Loud, petroleum products, and foreign parboiled rice, among others. […] The post Customs intercepts illicit drugs, crude oil, others worth over N1bn appeared first on The Sun Nigeria.

Politics

3 w. ago NSCDC Uncovers Five Illegal Oil Dumps, Arrests Seven In Abuja

The Nigeria Security and Civil Defence Corps has uncovered five illicit crude oil dumps in the Jahi/Katampe area of Abuja. This was revealed in a statement issued on Thursday in Abuja by the NSCDC Spokesperson, Afolabi Babawale. Seven people connected to the illicit production and distribution of crude oil were also confirmed to have been […] The post NSCDC Uncovers Five Illegal Oil Dumps, Arrests Seven In Abuja appeared first on Information Nigeria.

Events

3 w. ago NSCDC uncovers five illegal crude oil dumps in Abuja, arrests seven

The Nigeria Security and Civil Defence Corps has uncovered five illegal crude oil dumps in the Jahi/Katampe axis of Abuja. This is contained in a statement issued by the NSCDC Spokesperson, Afolabi Babawale, on Thursday in Abuja. The corps also confirmed the arrest of seven suspects linked to the illegal crude oil production and distribution. Read More

Events

3 w. ago IPMAN warns against losses as SGR sells petrol at N899/litre

As the Federal Government ordered the return of the naira-for-crude policy, the Independent Petroleum Marketers Association of Nigeria has warned marketers and importers against the losses that may follow any sudden price cut. This is even as an independent marketer, SGR dropped the price of premium motor spirit to N899 per litre across its filling Read More

Events