Refining Capacity
NNPC begins work on Port Harcourt refinery
The Nigerian National Petroleum Corporation (NNPC) has kicked off construction work in the Port Harcourt Refinery rehabilitation project with a firm commitment not to fail Nigerians. A statement on Friday by the Group General Manager, Group Public Affairs Division of the NNPC, Dr Kennie Obateru, quoted the NNPC Chief Operating Officer, Refineries & Petrochemicals, Engr Mustapha Yakubu, as saying that everything was being done to ensure that the project is delivered hitch-free and on schedule. Speaking at the Technical Kick-off Meeting for the project held at the Port Harcourt Refinery Complex, Alesa Eleme, Rivers State, Engr Yakubu said everything about the project had been carefully worked out to ensure that the target of at least 90% refining capacity is achieved when operational. “I...
Lagos chamber projects positive economic recovery by Q2
The Lagos Chamber of Commerce and Industry (LCCI) has projected a return to positive growth path for the Nigerian economy in the second quarter of 2021. Mrs Toki Mabogunje, President, LCCI, addressing journalists at the first edition of the chamber’s quarterly news conference, said the projection was subject to the absence of major economic shocks. Mabogunje, however, said that the projected recovery was expected to be subdued within the region of one per cent. “Projections by the World Bank and the International Monetary Fund put Nigeria’s annual average growth for year 2021 at 1.1 per cent and 1.5 per cent, respectively. “Expectation of slow growth momentum reflects the lingering effects of the pandemic on the Nigerian economy and prospects of stricter containment measures considering th...
Nigeria most expensive for upstream projects – NNPC chief
The Group Managing Director, Nigerian National Petroleum Corporation, NNPC, Mele Kyari, has disclosed that Nigeria remains one of the most expensive countries in the world for petroleum upstream projects. Upstream is refers to points in production that originate early on in the processes of crude oil production. Its activities include exploration, drilling, and extraction. Kyari made this known at the Nigerian Content Tower in Yenagoa, Bayelsa State during a review meeting with the Permanent Secretary, directors and chief executives of agencies in the Petroleum ministry. According to him, “Nigeria is one of the most expensive territories in the world for upstream projection and part of the corporation’s mandate is to reduce cost by at least five percent. “We have reduced costs substantiall...
Nigerian government signs fuel transportation, storage deal with Niger Republic
The Federal Government, yesterday, signed a Memorandum of Understanding, MoU, with the Republic of Niger for the transportation and storage of petroleum products. The post Nigerian government signs fuel transportation, storage deal with Niger Republic appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
Marketers call for appropriate legislation on fuel subsidy removal
AHA Taxis Marketers are calling for appropriate legislation that will enforce the new fuel subsidy removal policy of the Federal Government. Speaking during a webinar on the downstream sector at the weekend, the Managing Director of 11 Plc, and Chairman of Major Oil Marketers Association of Nigeria (MOMAN), Adetunji Oyebanji, stated that there are some misconceptions that government has given permission to marketers to import premium motor spirit (PMS) otherwise called petrol. “There was never a time government stopped marketers from importing. It was the economics of it that made marketers stopped because it didn’t make sense to import products at a price that is higher than the government fixed price for the product at the pump. Gradually, all the players involved in importation stopped,...
