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Farooq

Posts Tagged "petroleum" (Page 14)

HomePosts Tagged "petroleum" (Page 14)

By Ugo Nwagwu Venezuela is on the brink to total collapse. Venezuela as of now is a failed state. And that’s just the beginning because unfortunately, things are actually going from bad to worse. Venezuela’s GDP is expected to plunge by and additional 8 percent this year, and inflation is set to rise even more […]

Okechukwu Nnodim, Abuja Just as they predicted two weeks ago that the Federal Government would raise the pump price of Premium Motor Spirit, which eventually happened, oil marketers have stated that the country may be heading for a total deregulation of its downstream oil sector. About two weeks ago, Sunday PUNCH exclusively reported that the […]

  • Kachikwu

Femi Asu Already battered by the steep drop in global oil prices and a lack of regulatory certainty, the Nigerian oil and gas industry has taken a turn for the worse following the resurgence of attacks on infrastructure in the Niger Delta. In the past few years, a number of projects have been suspended by […]

Nigeria is in dire straits and lacks enough funds to meet its obligations, the Minister of Information and Culture, Alhaji Lai Mohammed, said wednesday. The minister stated this in Abuja while explaining the decision of the federal government to increase the pump price of fuel, adding that the policy was not aimed at removing subsidy […]

  • Kachikwu

By Camillus Eboh ABUJA May 16 (Reuters) – Nigeria’s oil production has fallen by almost 40 percent to 1.4 million barrels a day due to militant attacks on pipelines and other facilities, its oil minister said on Monday. His comments come amid a resurgence of militancy in the Niger Delta region which produces most of […]

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 […]

By Libby George and Chijioke Ohuocha LONDON/LAGOS, May 15 (Reuters) – The growing fleet of tankers stuck off Nigeria unable to unload their cargoes of diesel and petrol is an even-present reminder for President Muhammadu Buhari that another fuel crisis is looming on the horizon. At least 75 ships with two and a half million […]

  • Kachikwu

Femi Asu The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said Nigerians will be amazed at what will become of the price of Premium Motor Spirit in the next six months. The Federal Government had on Wednesday announced the removal of fuel subsidy, with a new petrol price band of N135 to […]

11 May 2016 | PRESS STATEMENT ON CURRENT FUEL SITUATION IN NIGERIA We have just finished a meeting of various stakeholders presided over by His Excellency, the Vice President of the Federal Republic of Nigeria. The meeting had in attendance the Leadership of the Senate, House of Representatives, Governors Forum, and Labour Unions (NLC, TUC, […]

  • Kachikwu

By Omono Eremionkhale The Nigerian government appears set to introduce policy changes to finally herald the take off of deregulation of the downstream sector of the petroleum industry, minister of state petroleum resources, Ibe Kachickwu, confirmed on Tuesday. PREMIUM TIMES had exclusively reported on Monday that government was planning to unveil in a matter of […]