Independent marketers expect the current fuel supply crisis in parts of the country to abate not later than next week. Their optimism is hinged on the ongoing efforts to free seven fuel-laden vessels trapped in Warri. The vessels are carrying a total of 150 million litres of Premium Motor Spirit (PMS) an official of the … Read more
Oil marketers are gearing up to load refined petroleum products from the Port Harcourt Refining Company, as workers at the facility race to get it set for production on the directives of the Nigerian National Petroleum Company Limited. Dealers confirmed on Friday that the PHRC was almost set to start releasing products, projecting a N500/litre … Read more
The Senate Ad-Hoc Committee to Investigate the Turnaround Maintenance of Nigeria’s Refineries has said the Port Harcourt Refinery will begin operation before the end of December. This is as the Rivers State Governor, Siminalayi Fubara, has stated that his administration is working in tandem with President Bola Tinubu-led Federal Government’s policies designed to make life … Read more
The Nigerian National Petroleum Company, NNPC, Ltd says it recorded a profit of N2.548 trillion in 2022. The national oil company in its 2022 Financial Performance Report posted online described the profit as the highest since its inception in 1977. The financial report stated that it recorded a loss of N803 billion in 2018 and … Read more