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The Independent Petroleum Marketers Association of Nigeria (IPMAN) is partnering with some major stakeholders in the oil industry to import kerosene and diesel into the country to ease the suffering of Nigerians.
Its National President, Chinedu Okonkwo told newsmen in Lagos yesterday that the association had obtained license to import kerosene and diesel into the country while it has engaged foreign partners to finance imports.
“We hope this will create value in the industry by ensuring that there is enough kerosene and diesel in all our members’ stations at affordable prices,” he said.
Okoronkwo said that owing to the liberalisation of the sale of products, the association has planned to import its own products for onward distribution to its members.
Shell International has announced the appointment of the outgoing managing director of the Nigerian Liquefied Natural Gas Company (NLNG), Babs Omotowa into the Global Upstream Leadership Team as Vice President (S&E)
According to NLNG, Omotowa joined the firm with a well-deserved reputation as a turnaround expert from his previous work in Europe, focused on improving the company’s operations through cost leadership management, assets rejuvenation, organisation culture alignment, change management, commercial creativity, Read More
The minister of transport, Mr Rotimi Amaechi has commissioned the Command, Control, Communication and Intelligence System (CCCIS) of the Nigerian Ports Authority (NPA), a system that identifies, obtains vessels information and track ships movement on the Nigerian coast, Leadership reports.
The CCCIS covers the four pilotage of the NPA, namely, the Lagos Port District, the Bonny and Port Harcourt Read More
Brent crude futures were trading at $44.65 a barrel by 4:25 p.m. ET, down $1.04 cents or 2.28 percent from their previous close. The contract fell to an intraday low of $44.55, a low going back to May 10. Read More
The Managing Director of Nigeria Liquefied Natural Gas (NLNG), Mr. Babs Omotowa, has stated that the gas flaring, which was previously at 65 per cent, putting the nation on the league of top five gas flaring countries in the world, has reduced to 20 per cent.
Omotowa, who disclosed this in Ilorin at the weekend during the commissioning of NLNG/University of Ilorin Engineering Research Centre, said that through NLNG’s efforts, Nigeria was no longer on the league of top five gas flaring countries in the world.
He said: “One of the reasons why Nigerian Liquefied Natural Gas was established was to reduce gas flaring in the country. When we started Nigeria was flaring about 65 percent Read More
More than $20 billion local investments in the oil and gas sector are under threat as a result of low oil prices. Following the situation, the relevant House of Representatives committee is planning to extend the implementation of the Nigerian content policy to the country’s manufacturing, telecommunication, aviation and construction sectors.
The Guardian gathered that before the fall in price of crude oil (when it was about $110 per barrel), indigenous firms purchased over $10 billion worth of divested assets from International Oil Companies (IOCs), largely financed by bank loans. The financial projections underpinning the loans have long been invalidated, and many indigenous companies struggle to service their debts. Consequently, oil revenues and profits have contracted sharply Read More
The Head, Revenue Protection Department, PHED, Mr. Nsika Udi during a consumers’ forum said that the direct tapping of energy, besides meter bypassing, illegal connection, and fraud in billing, accounted for 80% of power theft. He added that Read More