The global crude oil market continues its turbulent descent, driven largely by the unpredictable tariff regime of United States (U.S) President Donald Trump, with rippling effects now hammering Nigeria’s oil-dependent economy, according to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). Speaking at the State House yesterday during the Meet-the-Press series organised by the…
Independent Petroleum Marketers Association of Nigeria (IPMAN) Depot Chairmen Forum yesterday gave Nigerian President Bola Tinubu seven working days ultimatum to pay its over N100billion bridging claims. In its communique issued to reporter in Abuja, the Depot Chairmen Forum, Alhaji Yahaya Alhassan said should the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) fail to…
Nigeria’s Minister of Petroleum Resources (Oil), Senator Heineken Lokpobiri, has assured oil and gas players that pump prices of fuel shall continue to be determined by the forces of demand and supply as is the practice is a deregulated market environment. The minister spoke at the Petroleum Industry Stakeholders Forum Meeting in Abuja, which brought…
About five years after it went moribund, the Nigerian National Petroleum Company (NNPC) Ltd has announced the successful re-streaming of the Port Harcourt Refining Company (PHRC). This was disclosed in a statement by the Chief Corporate Communications Officer NNPC Ltd.,Olufemi Soneye, on the company’s official X handle. Soneye explained this achievement, marked by the commencement…
The Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has put the country’s daily petrol consumption at between 45 million litres to 50 million litres. Its Chief Executive Officer, Mr Farouk Ahmed, disclosed this while speaking on the sideline of the ongoing 18th Africa Downstream Energy Week in Lagos. The 2024 OTL Africa Downstream Energy…
