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Farooq

Posts Tagged "fuel"

HomePosts Tagged "fuel"
  • Kachikwu

In the last one year, the country has spent about N4.74tn on the importation of petroleum products, an amount that is made up of N3.4tn for the actual products and N1.34tn on logistics. The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, who stated this at a press conference in Abuja on Thursday, said, […]

  • Kachikwu

Nigeria will stop importing refined petroleum products by 2019, Ibe Kachikwu, minister of state for petroleum resources, said on Tuesday. Kachikwu made the disclosure at a public hearing on the review of petroleum pricing template for premium motor spirit (PMS) organised by the house of representatives. He said within two years, the federal government revived […]

The Nigerian National Petroleum Corporation, NNPC, yesterday, said that the country’s three refineries produced additional 4.6 million litres of Dual Purpose Kerosene, DPK, otherwise known as kerosene and 7.7 million litres of Automative Gas Oil otherwise known as diesel. NNPC Chief Operating Officer of the refineries, Mr. Anibor Kragha, disclosed this in a statement during […]

Femi Asu The Federal Government has resorted to subsidy regime following an increase in the landing cost of Premium Motor Spirit, also known as petrol. This is coming about eight months after the Muhammadu Buhari-led regime stopped the fuel subsidy, which was costing the government millions of naira being paid monthly to oil marketers importing […]

THE foreign exchange scarcity and recent appreciation of the price of crude oil in the international market are threatening smooth supply of petrol in the country, Daily Trust has gathered. Daily Trust gathered that for over three months now marketers have not been importing the product into the country due to the tricky nature of […]

The retail price for petrol may rise by at least 13.7 percent to N165 per litre by January 2017 from the current price of N145, industry experts say. This is because the current petrol price template is predicated on an exchange rate of N285/$ and crude oil price of $45 per barrel, and these have […]

Chineme Okafor in Abuja A former Executive Secretary of the Petroleum Products Pricing Regulatory Agency (PPPRA), Mr. Reginald Stanley has said that the federal government’s foreign exchange facility for importation of petrol into the country was a good intervention in the downstream petroleum sector, but that its administration should be fine-tuned. Speaking when he commissioned […]

The Minister of Finance, Mrs Kemi Adeosun, on Friday said that 30 per cent of the country’s demand for foreign exchange was for fuel importation. Adeosun stated this in Lagos at the launch of “FirstGem” , a product of First Bank of Nigeria Ltd., aimed at empowering women through wealth creation. She said that government […]

By Ugo Nwagwu The Nigerian National Petroleum Corporation (NNPC) has put the national daily consumption of petrol at 40 million liters per day. The ‘barrel of crude’ equivalent is 478,068. That is to say that 478,068 barrels of crude should be able to supply the demand of petrol every day in Nigeria. Nigeria’s peak production […]

ABUJA, July 8 (Reuters) – Nigeria’s state oil company on Friday urged motorists not to engage in panic petrol buying, a day after a trade union representing oil workers began a strike that raised fears of future fuel shortages. Petrol shortages caused lengthy queues for motorists seeking to fill their tanks earlier this year after […]