Petrol marketers are insisting on the exchange rates of not more than N240 per dollar to import and recoup their investment, the Independent Petroleum Marketers Association of Nigeria (IPMAN) National Operation Controller, Mr. Mike Osatuyi, has said. He said the body has met the Federal Government on the issue, noting that foreign exchange (forex), […]
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Suspected militants have bombed a state-run oil pipeline near the southern Nigerian oil hub of Warri in the latest blow to the industry, a security source and community leader said Wednesday. The Trans Forcados export line was attacked late Tuesday, they said, just hours after President Muhammadu Buhari met with representatives of militant groups in […]
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The Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Ibe Kachikwu, has issued 90-day ultimatum to the management of Warri Refining and Petrochemicals Company to commence full production at the facility. The refinery has the capacity to process 125,000 barrels of crude oil per day. Speaking at the end of a facility tour […]
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In what appears a radical attempt to tackle crude oil theft and pipeline vandalism, the Nigerian National Petroleum Corporation, NNPC, has served notice that drones would be deployed for monitoring. The Corporation also plans to split the Pipeline and Products Monitoring Company, PPMC into two companies, with one solely in charge of pipelines while the […]
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