Nigerian @60: It Makes No Sense for Oil to Be Cheaper in Nigeria than in Saudi Arabia” – Buhari

NewsNigeriaOil & GasNigerian @60: It Makes No Sense for Oil to Be Cheaper in Nigeria than in Saudi Arabia” – Buhari

Bada Yusuf Amoo (Correspondent)October 1, 2020

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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FG Can’t Run Refineries — Osinbanjo

BusinessNewsOil & GasFG Can’t Run Refineries — Osinbanjo

Beloved John (Staff Writer)September 22, 2020

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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Why Federal Government Shut Down Nigeria Refineries, NNPC Boss Kyari

BusinessNewsOil & GasWhy Federal Government Shut Down Nigeria Refineries, NNPC Boss Kyari

Bada Yusuf Amoo (Correspondent)September 10, 2020

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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Protest Hits Ibadan Streets Over Fuel and Electricity Price Hike

NewsNigeriaOil & GasProtest Hits Ibadan Streets Over Fuel and Electricity Price Hike

Bada Yusuf Amoo (Correspondent)September 8, 2020

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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PIB for Presentation to National Assembly in Few Weeks, Says Sylva

EconomyNewsNigeriaOil & GasPIB for Presentation to National Assembly in Few Weeks, Says Sylva

PilotnewsAugust 20, 2020

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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BREAKING: Petroleum Tankers Drivers Begin Strike

BusinessNewsNigeriaOil & GasBREAKING: Petroleum Tankers Drivers Begin Strike

PilotnewsAugust 10, 2020

Petroleum Tanker Drivers in Lagos State have withdrawn their services as directed by the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) beginning from Aug. 10. The state Chairman, NUPENG, Mr. Tayo Aboyeji made the confirmation in an interview with the News Agency of Nigeria (NAN) on Monday in Lagos. Aboyeji said that the strike began in the early hours of Aug. 10, following negotiation breakdown between the state government and the union. “Although, we...

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Why Fuel Scarcity May Begin in Lagos Tomorrow

LabourNewsOil & GasWhy Fuel Scarcity May Begin in Lagos Tomorrow

Adeola Oladipupo (Correspondent)August 9, 2020

Due to the failure of the state government to address grievances, the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has directed tanker drivers to suspend their services beginning from Monday. Williams Akporeha, the National President of NUPENG, said in a statement that the appeal to Lagos and the Federal governments to decongest the Apapa Port has not been addressed. “The entire rank and file members of the union are deeply pained, frustrated and...

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FG to Encourage More Private/Public Partnership to Boost Domestic Gas – Sylva

BusinessNewsOil & GasFG to Encourage More Private/Public Partnership to Boost Domestic Gas – Sylva

PilotnewsAugust 7, 2020

The Minister of State for Petroleum Resources, Timipre Sylva, says more private and public sector collaboration is needed to boost domestic gas utilisation. The Minister of State for Petroleum Resources, Chief Timipre Sylva, has said that more private and public sector collaboration will be encouraged as Nigeria steps up effort to realise its target of boosting domestic gas utilisation. Sylva made this known on the Twitter account of the Nigerian National Petroleum Corporation (NNPC) on Friday while...

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NNPC Calms Fears Over Leaking Pipeline, Says No Possibility of Explosion

Crime & SecurityNewsOil & GasNNPC Calms Fears Over Leaking Pipeline, Says No Possibility of Explosion

Adeola Oladipupo (Correspondent)July 3, 2020

The Nigerian National Petroleum Corporation (NNPC) has dismissed concerns over possible fire outbreak from a vandalised spot on its pipeline at Aboru Canal in Alimosho Local Government. In a statement, the Corporation’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, said the liquid leaking from the pipeline was not petrol, but water. Obateru stated that the Atlas Cove – Mosimi stretch of the system 2B Pipeline was shut down on June 25, 2020,...

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How Saudi Prince Called Buhari to Bring Him in Line with OPEC Cuts

NewsNigeriaOil & GasHow Saudi Prince Called Buhari to Bring Him in Line with OPEC Cuts

PilotnewsJuly 3, 2020

Nigeria should pump about 1.37 million barrels of crude oil a day next month in order to meet its OPEC quota and compensate for past under-compliance. Saudi Arabia, de facto leader of the OPEC cartel, held a call with fellow member Nigeria as the organization strives to deliver production cuts aimed at bolstering global crude markets. Saudi Crown Prince Mohammed bin Salman and Nigerian President Muhammadu Buhari discussed “ways of cooperation to enhance the stability”...

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