THE federal government has reiterated its target of producing 10 billion standard cubic feet (SCF) of gas per day by 2030, with fresh assurances that ongoing reforms are designed to position Nigeria as a global energy hub. This commitment was made yesterday in Abuja by the Minister of Finance and Coordinating Minister of the Economy, […]
NIGERIA, Africa’s largest oil producer, has announced a 5% tax on all fossil fuel sales as part of its new tax law that goes into effect in January 2026. According to this new tax regulation, Nigerians are now expected to pay a “5% surcharge that is chargeable on fossil fuel products provided or produced in […]
I built everything, didn’t inherit my father’s wealth, says Dangote THE Dangote Refinery has exported its first gasoline cargo to the United States (U.S.).The development, which marks a new milestone for the facility’s growing global footprint, was not immediately confirmed when The Guardian contacted the company’s Group Chief Branding and Communications Officer, Anthony Chiejina. Argus […]
Hoscom Bulk Petroleum Retailers has expressed concern over a perceived asymmetrical market structure in Nigeria’s oil sector. Specifically, they warned that NNPCL’s recent actions may be creating a monopoly. This concern follows statements attributed to Bayo Ojulari, Group CEO of NNPCL, during a courtesy visit by PENGASSAN leadership. According to reports, Ojulari said he found […]
THE Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says Nigeria gas flaring has fallen to 7.16 per cent in July 2025, while daily gas production rose to 7.59 billion standard cubic feet per day (BSCFD). The NUPRC, in its Gas Production Status Report for July 2025, released on Saturday said this marked an 8.58 per […]
GROUP chief executive officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, Bayo Ojulari, has disclosed that the company was losing about ₦500 million monthly on the Port Harcourt Refinery, prior to his appointment. He disclosed this when he received a delegation from the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), […]
By EMMANUELLA ANOKAM THE Nigerian National Petroleum Company Limited (NNPC Ltd.), Nigerian Liquefied Natural Gas (NLNG), and other Joint Venture (JV) partners have signed agreements to supply 1.3 billion standard cubic feet per day (mmscf/d) of feedgas. This move aims to ensure sustainability and strengthen gas supply for ongoing and future operations. The long-term Gas […]
By EMMANUELLA ANOKAM THE Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has reported a significant decline in fuel consumption for June 2025, with total fuel evacuation falling to 1.44 billion litres. The Director of Public Affairs, NMDPRA, George Ene-Ita confirmed in a report on Wednesday that daily fuel consumption had averaged 48 million litres, […]