BRUSSELS/LONDON, Nov 2 (Reuters) – Nigeria’s state oil firm NNPC Ltd will supply the new 650,000 barrel-per-day Dangote oil refinery with up to six cargoes of crude oil in December to be used in test runs, three industry sources with knowledge of the matter said. The refinery, funded by Africa’s richest man, Aliko Dangote, will…
The Nigerian National Petroleum Company Limited “NNPCL” has disclosed that crude oil thieves have devised a new tactic of installing closed-circuit television cameras, ‘CCTV’ on trees to evade security operatives. The company also said that 149 cases of oil theft were documented in the Niger Delta region in the last one week. The company…
In a significant move, the United Nations Children’s Agency, UNICEF, has unveiled plans to allocate a substantial sum of $270 million to reinforce Nigeria’s endeavors in humanitarian aid and poverty reduction. The commitment comes alongside the announcement of setting up an emergency operation center to manage crises effectively. During a meeting held in Abuja, UNICEF…
It is not uncommon to read reports of the destruction of illegal refineries in the Niger Delta region. Refinery. The appellation ‘illegal’ could have arisen from the fact that the crude oil being refined was stolen from the oil rigs or reserves; or probably because the refineries did not go through official company registration with…
CBN ,The Central Bank of Nigeria yesterday returned Bureaux De Change (BDCs) to the foreign exchange market, with new guidelines on their operations. In a circular to BDCs signed by CBN Director, Trade and Exchange Department, O.S Nnaji, titled: “Operational Mechanism for Bureau De Change Operations in Nigeria”, the apex bank said the guidelines were…
Breaking News: Men of Operation Delta Safe, OPDS, have arrested three suspected crude oil thieve and seized a vessel and two tankers used in carrying out illegal activities in Rivers State. The OPDS operatives seized the vessel used by oil thieves to store their products at the moment in Port Harcourt and arrested one suspected…
Oil marketers, on Monday, said the foreign exchange crisis in Nigeria and the recent implementation of a 7.5 per cent Value Added Tax on Automotive Gas Oil, popularly called diesel, had pushed up the cost of the commodity to between N900 and N950/litre in many states. The development has made local manufacturers say that the…
Crude Oil Theft, The recent interruption of an ocean-going vessel, MT PRAISEL, by operatives of the Tantita Security Services Nigeria Limited, TSSNL, in Delta State seems to have exposed the internal bad feeling among security agencies protecting oil facilities in the Niger Delta. A reliable source, however, disclosed that the in-house contention pre-dated the August…
Fuel Hike, Following the recent hike of the Premium Motor Spirit (PMS), also known as Petrol or fuel after the removal of the subsidy by President Bola Tinubu-led government, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has hinted at an increase in the product. The IPMAN in a statement issued on Thursday, August 10,…
