The Major Oil Marketers Association of Nigeria, MOMAN has Said one of the major reasons it advocates for the deregulation of the petroleum downstream sector is to ensure adequate margins to finance depot safety upgrades. The Association made this known in a statement on Sunday while giving an update onRead More

  Barely five months after publishing its 2018 Audited Financial Statement, the Nigerian National Petroleum Corporation (NNPC) has released its 2019 Audited Financial Statement with a 99.7% reduction in its loss profile from ₦803bn in 2018 to ₦1.7bn in 2019. A statement by the Corporation’s spokesman, Dr. Kennie Obateru, quotedRead More

More than N76.5bn has been paid for the purchase of petrol by consumers since the downstream oil sector was deregulated in March this year, Okechukwu Nnodim reports After the Federal Government deregulated the downstream sector of the oil industry on March 19, consumers of Premium Motor Spirit, popularly called petrol,Read More

The Nigerian National Petroleum Corporation (NNPC) has extended for six months its contracts with private companies to swap crude oil for fuels, two sources familiar with the contracts told Reuters yesterday. In July 2019, in order to continue its exchange of crude oil for refined fuel, the Nigerian National PetroleumRead More