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No fewer than 339 companies are bidding for the 2020/21 sales and purchase of the Nigerian crude oil grades. The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Malam Mele Kyari disclosed this at the 2020/2021 Crude oil tender prequalification bid opening ceremony, on Thursday in Abuja. He said that the event marked another transparent process for the corporation. He said that in spite of the challenges posed by COVID-19, the Corporation had modified the...

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The Federal Government says it had ha begun the clamp down on the use of faulty and altered measuring and weighing equipment by some business owners The Minister of Industry, Trade and Investment, Mr Adeniyi Adebayo, announced this on Saturday in Port Harcourt at a two-day sensitisation workshop with stakeholders in the downstream oil and gas industry. Adeniyi, represented by Mr Gbolahan Adamoh, Head of Oil and Gas, Department of Weight and Measures (WM), in the...

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The Domestic Refinery Owners Association of Nigeria (DROAN), have thrown their weight behind the Federal Government’s removal of oil subsidy in the country. The National Chairman of the association, Mr Godwin Sunday, made this known in a press conference organised by the association in Uyo on Saturday. Sunday said that the association was in full support of President Muhammadu Buhari’s  courageous stand in bringing the subsidy regime to an end. He urged stakeholders in the...

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The management of Chevron Nigeria Limited (CNL) says it has no plans to migrate Nigerian jobs outside the country. CNL’s General Manager Policy, Government and Public Affairs, Mr Esimaje Brikinn, made the clarification in a statement on Friday. Brikinn spoke following an allegation by the Petroleum and Natural Gas Senior Staff Association of Nigeria that CNL planned to relocate jobs outside the country. He said, however, that the company was reviewing its manpower requirements in...

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President Muhammadu Buhari has finally submitted the petroleum industry bill (PIB), which seek to scrap two major petroleum regulatory agency to the national assembly for consideration and passage. The proposed bill seeks to scrap the Nigerian National Petroleum Corporation (NNPC), Petroleum Products Pricing Regulatory Agency (PPPR) and establish the Nigerian National Petroleum Company Limited after all the assets and liabilities of the NNPC have been identified by the ministers of petroleum resources and finance. “The...

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President Muhammadu Buhari has said that it makes no sense for Nigerians to buy petroleum products at prices lower than those sold in neighboring countries. The president said this at Aso Rock Villa, Abuja, while delivering independence speech to Nigerians on Thursday morning, October 1, 2020, the 60th Independence Anniversary of Nigeria. Buhari said, “Petroleum prices in Nigeria are to be adjusted. We sell now at N161 per litre. A comparison with our neighbors will...

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Nigeria Vice President, Yemi Osinbajo, has said handing the refineries over to the federal government won’t solve any of the problems. Osinbajo said the federal government has nothing to do with the refineries in the country as it is strictly the business of the private sector. He also disclosed that 6 oil refineries are near completion in Edo, Imo, Rivers, Delta, Lagos and will soon commence operations. “If the refinery is left in the hands...

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The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, had given reasons why the four oil refineries in the country have been shut down in Port Harcourt, Warri, and Kaduna. Kyari said this on Channels Television’s Politics Today programme on Wednesday. In his explanation, all four refineries are functioning below capacity, this has necessitated the need for the FG to stop them from operating altogether. The NNPC boss while responding to...

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Civil society groups, students and workers have stormed the streets of Ibadan, the Oyo State capital, on Tuesday, to register their displeasure over the hike in the price of petrol and that of electricity tariff. The protesters, carrying different placards with different inscriptions to convey their grievances, while chanting anti-government songs, gathered at the Awolowo junction area of Ibadan, the Oyo State capital. The protesters condemned the policies of the administration of the President Muhammadu...

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Chief Timipre Sylva, Minister of State for Petroleum Resources, says the Petroleum Industry Bill (PIB) will be presented to the National Assembly in the next few weeks. Sylva said the Executive arm would be requesting the lawmakers to specially reconvene to receive and begin deliberations on the Bill. According to him, the Bill is key to repositioning Nigeria’s Oil and Gas Industry under its post-COVID-19 agenda. The News Agency of Nigeria (NAN) reports that the...

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