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ABUJA — The Minister of State for Petroleum Resources, Chief Timipre Sylva, says the Federal Government has no plans to increase the pump price of Premium Motor Spirit (PMS) also known as petrol in June. In a statement in Abuja on Friday, the Minister was reacting to recent reports regarding the resolution of the Nigeria Governors Forum to increase the pump price of petrol. “Once again, it has become necessary to assure Nigerians that despite...

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KADUNA — In compliance with the Nigeria Labour Congress (NLC) five days warning strike over the sack of workers in Kaduna state, the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has directed its members to shut down services in Kaduna State with effect from Sunday, May 16th 2021. NLC had directed workers in the state to totally withdraw services for five days with effect from May 16, 2021, following the sack of over...

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PORT HARCOURT — The Nigerian National Petroleum Corporation (NNPC)  has tasked the Contractor to rehabilitate the Port Harcourt Refineries Companies (PHRC) to ensure completion of the project at the estimated time frame. The Group Managing Director, Malam Mele Kyari disclosed this at the kick-off meeting of the Rehabilitation of PHRC, in Port Harcourt, on Thursday. The News Agency of Nigeria reports that the meeting signified the take-off of the rehabilitation project. The PHRC operates two refineries;...

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ABUJA — The Nigerian National Petroleum Corporation (NNPC) began its week with the task of normalising the supply of Premium Motor Spirit (PMS) at different filling stations in the country especially the FCT following the strike embarked upon by Petroleum Tanker Drivers (PTD) over remuneration. The normalisation started with the corporation increasing the daily supply of petrol across the country from 550 trucks to 1,661 trucks to combat the buildup of fuel queues in some...

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The Department of Petroleum Resources (DPR) has disclosed that 32 refinery project licenses issued to private investors in the country have become invalid in the past three years. According to the DPR, the numbers of valid refinery project licenses presently in the country are 23 as of March 2021, from the 44 in April 2018. Analysis of the agency’s new list of valid refinery project licenses and that of April 2018 revealed that 32 licenses...

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The prices of crude oil dropped after official figures showed a significant rise in the gasoline inventories of the United States. The price of Brent crude, the grade at which Nigeria’s crude oil is benchmarked, decreased by 0.41 percent and stood at $62.89 a barrel as of Thursday afternoon. The US West Texas Intermediate (WTI) crude also declined by 0.65 percent, to $59.38 a barrel. The U.S. Energy Information Administration (EIA)  had earlier mentioned that...

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The House of Representatives minority caucus has condemned the $1.5bn approval for the rehabilitation of the Port Harcourt refinery, describing the figure as ‘outrageous and heavily inflated’. The lawmakers, there, called for an immediate review of the cost. In a statement issued by the minority leader of the Green Chamber, Ndudi Elumelu, on Tuesday, disclosed that the caucus reached the conclusion after a thorough evaluation of the proposal. The statement was titled, ‘Reps Minority Caucus...

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YENEGOA — The Bayelsa Government has announced the suspension of all agreements between international oil firms and their host communities across the state. Gov. Douye Diri’s announcement is contained in a statement by his Chief Press Secretary, Mr. Daniel Alabrah on Thursday in Yenagoa. The suspension is on the heels of an allegation by the Bayelsa government that Shell Petroleum Development Company (SPDC) was fueling crises and insecurity of its host communities in the Niger...

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The current ex-depot price of premium motor spirit (PMS), will be maintained until the end of negotiations with organised labour according to the Nigeria National Petroleum Cooperation (NNPC). Kennie Obateru, group general manager, group public affairs division of NNPC, disclosed this in a statement on Friday. He indicated that NNPC will continue to bear the burden of petrol subsidy as the current price will be maintained at N162 until ongoing engagement with the organized labour...

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By John Campbell Nigerian lawmakers are seeking passage of a Petroleum Industry Bill (PIB) that would reorganize the oil industry. Since the establishment of civilian government in 1999 after a generation of military rule, repeated attempts at passing a PIB have been made. But the government, the political class, and the industry’s leaders (foreign and domestic) have never reached a consensus that would make the reordering possible of such a crucial industry. The technical issues are exceedingly complex. Uncertainty around...

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