IPMAN to commence construction of $3bn refinery

IPMAN to commence construction of $3bn refinery

The Independent Petroleum Marketers Association of Nigeria (IPMAN) is set to commence work on its proposed $3 billion (N1.08 trillion) refinery in two states in the federation. The National President of the association, Mr Chinedu Okoronkwo, made the disclosure in an interview with the News Agency of Nigeria (NAN) in Lagos on Wednesday. READ ALSO: […]

NNPC’s losses rise by 1,556% in one month

NNPC’s losses rise by 1,556% in one month

The group financial and operations losses of the Nigerian National Petroleum Corporation increased by 1,556.1 per cent from October to November 2017, the latest figures released by the oil firm revealed. Findings showed that the corporation’s losses had dropped from N2.81bn in September 2017 to N400m in October. But this could not be sustained as […]

NNPC: Why we subsidise petroleum products

NNPC: Why we subsidise petroleum products

The Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, has explained the need to subsidize the petroleum products, saying that the government does not want the pump price to go beyond N145 per litre. Fielding questions from State House correspondents after observing Juma’at prayers at the State House Mosque, he […]

India slashes import of Nigeria crude oil

India slashes import of Nigeria crude oil

 Tweet  Share Pin it +1 Oil ‘Femi Asu Nigeria’s oil supply to India has hit its lowest level for this year, with the Asian country intensifying effort to diversify its sources of the commodity. India has remained the single largest buyer of Nigerian crude oil in the past few years after the United States slashed its imports from […]