ExxonMobil-Led Consortium Advances to Second Exploration Phase off Crete

A consortium led by the U.S. oil giant ExxonMobil has completed the initial exploration phase southwest of the Greek island of Crete and has opted to proceed to the second stage, according to Greece’s state-owned Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA) on Thursday. ExxonMobil and Helleniq Energy are collaborating on these exploration studies […]Read More

Increased petrol price by NNPC will prompt a vicious cycle

The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has expressed concern over the increasing petrol pump prices in Lagos and Abuja, cautioning that this could lead to widespread economic challenges nationwide. Dele Oye, the National President of NACCIMA, raised these issues in a statement issued on Wednesday in Lagos. Oye pointed […]Read More

NNPCL Increases Petrol Price to N998 in Lagos, N1030 in

The Nigerian National Petroleum Company (NNPC) Limited has increased the price of Premium Motor Spirit, commonly known as petrol, from N855 per litre to N998 in Lagos and N1030 in Abuja. This price hike, which took effect on Wednesday, was noticeable at all NNPC depots in Lagos State and Abuja. The latest pricing reflects a […]Read More

Nigeria’s Petrol Imports Hit Record N3.22 Trillion in Q2 2024

Nigeria’s importation of Premium Motor Spirit (PMS), commonly known as petrol, reached an unprecedented N3.22 trillion in the second quarter of 2024, the highest figure ever recorded in the nation’s history. This information was revealed in the foreign trade report published by the National Bureau of Statistics (NBS). Petrol imports accounted for 25% of Nigeria’s […]Read More

Fire Guts NNPC Depot in Lagos

A tank farm in Apapa, Lagos State, reportedly owned by the Nigerian National Petroleum Company (NNPC) Limited, has caught fire, according to the Lagos Fire Service. Margaret Adeseye, Director/CEO of Lagos State Fire Service, explained that the fire stemmed from a spillage of petroleum products within the tank farm’s perimeter.  She emphasised collaborative efforts with […]Read More

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