Downstream

NIMASA to enforce 0.5% sulphur limit on vessels in Nigerian waters

Nov 2, 2018

In a bid to battle environmental pollution, the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, Thursday said the agency would enforce strict compliance to the International Maritime Organisation (IMO) regulation which puts a maximum of 0.5 per cent sulphur cap on all fuel used by vessels by the…

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$1.05bn National Fuel Support Fund sourced from NLNG dividend – NNPC

Nov 2, 2018

Nigeria National Petroleum Corporation (NNPC) boss Maikanti Baru yesterday told the Senate that the corporation spends $1.05billion from dividends of Nigerian Liquefied Natural Gas Limited (NLNG) Limited to augment daily shortages incurred in the pump price of Premium Motor Spirit (PMS). Baru appeared before the Senate Ad- Hoc Committee Investigating alleged illegal application of $3.5billion petroleum…

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Kaduna refinery continues to remain dormant

Nov 1, 2018

The Kaduna Refining and Petrochemical Company, one of the country’s crude oil refineries being managed by the Nigerian National Petroleum Corporation, has remained dormant. According to the corporation, the refinery’s capacity utilisation has remained at zero for months, as the KRPC is not refining crude oil despite receiving the commodity. In its latest monthly oil…

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FG makes moves to finally settle oil marketers

Nov 1, 2018

The Federal Government has commenced the process of paying oil marketers the arrears it owes the marketers. A statement from the Debt Management Office (DMO) last night stated that it has “commenced the accelerated implementation of the Programme in line with the process approved by the Federal Executive Council (FEC).” The approved process the DMO…

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NNPC, BP sign petrol supply agreement ahead of 2019 elections

Nov 1, 2018

Moves to guarantee petrol availability nationwide and all-year-round was solidified, on Thursday, as the Nigerian National Petroleum Corporation (NNPC) has signed a six-month Direct Sale-Direct Purchase (DSDP) agreement with the British Petroleum’s (BP) trading arm, BP Oil International Limited, for the supply of Premium Motor Spirit, also known as petrol. This latest agreement will represent…

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Dangote refinery to help wean Nigeria off dirty fuels

Oct 31, 2018

Dangote Oil Refinery Company (DORC) has stated that the 650,000 barrels per day refinery has been designed to process a variety of light and medium grades of crude and produce extremely clean fuels that meet Euro V specification. Sulphur in petroleum fuels results in vehicle exhaust emissions that have negative impact on health and the…

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Nigeria to place 2nd after China in global refinery capacity by 2022

Oct 30, 2018

A new report by GlobalData, a data and analytics company has said that efforts by Nigeria to revive its ailing refineries alongside other upcoming private refinery projects will place the country second in global refining capacity after China. The report said Nigeria is planning a massive refinery expansion to meet growing domestic demand for petroleum…

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No plan by FG to increase petrol price – NNPC

Oct 30, 2018

The Nigerian National Petroleum Corporation (NNPC) says it has no plans to increase pump prices of petroleum products, especially petrol. The corporation disclosed this in a statement signed by its spokesman, Ndu Ughamadu, on Tuesday. He said though NNPC, since October 2017, had been the sole importer of petrol into the country, the government had…

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National oil companies to spend $116bn in new petrochemicals projects – GlobalData

Oct 30, 2018

National Oil Companies (NOCs) are diversifying beyond their upstream oil and gas core, with major NOCs forecast to spend over US$116 billion in new petrochemicals projects, according to GlobalData, a leading data and analytics company. The company’s analysis of NOCs’ portfolios shows that while many NOCs have historically diversified internationally, this strategy was generally not adopted…

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Firm signs agreement with Katsina govt on cooking gas for workers

Oct 29, 2018

Aldusar Gas Nigeria Limited has entered into a mutual agreement with the Katsina State Government and the state chapter of the Nigeria Labour Congress (NLC) to provide cooking gas, cylinders and other equipment to civil servants. The workers are to repay for the items in three installments. The aim of the agreement is to discourage the…

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