Muhammadu also cautioned oil marketing companies on hoarding of petroleum products in anticipation of economic gain, saying it is illegal and any company found culpable of such an activity risks cancellation of its operating licence.
Browsing: Oil
The DAPPMA official stressed that full deregulation of the downstream sector remained the best option to address ongoing lingering fuel scarcity because marketers would source for foreign exchange to bring the product and sell at profitable price to avoid scarcity.
The association said it is unhappy with the Federal government for not addressing its grievances as regards unfair labour practices by the management of some indigenous oil and gas companies.
Isong explained that the private depot owners were selling the product to marketers at N144 as against the approved rate of N133.28 at the NNPC depots.
“He was invited to throw light on submissions made by Total Exploration and Production Nigeria Ltd handling the Egina project but we have not seen him since the invitation was sent three weeks ago,” he said.
“The situation in Lagos is improving and is expected to get better by Friday (today). In Abuja, the queues are expected to thin out completely by the weekend. We also expect the Kaduna area to be served by the Kaduna refinery and other reserves,” he observed.
07 December 2017, Sweetcrude, Houston, Texas – Chevron Corporation has announced a 2018 capital and exploratory spending programme of $18.3 billion…
Mkpoikana Udoma 07 December 2017, Sweetcrude, Port Harcourt — Most filling station in Port Harcourt, the capital of Rivers State…
07 December 2017, Luanda — Total and Sonangol have signed several agreements covering both upstream and downstream activities in Angola,…
07 December 2017, Houston — U.S. crude oil stockpiles fell more than expected last week as refineries hiked output, but…
