The Nigerian National Petroleum Corporation (NNPC) would begin retailing of petroleum products across markets in the Economic Community of West African States (ECOWAS) in the next two years. NNPC Group Managing Director, Maikanti Baru, who rebranded key downstream subsidiaries of the group yesterday, in Abuja, said the company would own 30 per cent market share
For seven straight years, the US has pumped more oil and gas out of the ground than any other country. That lead will only widen, states the US Energy Information Administration (EIA). The independent energy statistical agency describes the US as “the undisputed oil and gas leader in the world over the next several decades.” It
The oil production expected to start in the Albertine region by 2020 is projected to create over 160,000 jobs, Caroline Korutaro, a senior petroleum engineer in the Directorate of Petroleum at the Ministry of Energy and Mineral Development has said. Korutaro said of jobs created, about 60% will be for petroleum engineers, geologists, oil researchers
The pump price of fuel has been increasing from D42 to D45.50 per litre in October 2017, despite a 40 percent decrease in price of crude oil at the time as acknowledged by the Minister of Transport. It was further increased to D48.16 in December 2017 and now it is being sold over D50 per
Kenya’s oil ambitions received a boost after the government reached a revenue-sharing deal with the Turkana local government and community where the lucrative oilfields are located. But the road to first oil and sustained production remains fraught with political uncertainty and volatility as some within the local community still remain unconvinced. Kenyan President Uhuru Kenyatta
Oil workers under the auspices of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) have rejected the Service Level Agreement (SLA) in Petroleum Industry Bill (PIB). They described the agreement reached between the Nigerian Content Development and Monitoring Board (NCDMB) and
The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) has urged the Federal Government to remove Value Added Tax (VAT) on locally produced Liquefied Petroleum Gas (LPG) also called cooking gas. Its President, Nosa Ogieva-Okunbor, told reporters in Lagos that VAT payment on locally processed LPG makes it expensive and unattractive to imported LPG, which
Iraq exported more than 100 million barrels of oil during the month of April, the oil ministry said on Wednesday, noting that revenues exceeded USD6.5 billion. Ministry spokesman, Assem Jihad, quoting a final statistic by the state-run oil marketing company, SOMO, said exports stood at 100.197.197 barrels during the month of April, yielding revenues of