‘Poor implementation of downstream reforms responsible for fuel price dilemma’
As the Federal Government seeks ways out of the fuel price dilemma due to rise in oil prices, Major Oil Marketers Association of Nigeria (MOMAN) has stated that the poor implementation of downstream reforms is responsible for the present dilemma.
Oil marketers call for full deregulation, buffer against price hike
The Major Oil Marketers Association of Nigeria (MOMAN) has reiterated a call for full deregulation of the downstream sector. It also suggested that buffers could be created to mitigate the adverse effects of the imminent rise in the price of premium motor spirit.
Oil marketers demand pricing formula, legislation to sustain monthly adjustments
Operators in the downstream sector of the oil and gas sector have asked the Federal Government to unveil a pricing formula that will guide the monthly adjustments in the pump price of premium motor spirit (PMS) other wise known as petrol in order to avoid dislocations at the retail end of the value-chain.
Poor regulation stalling local crude refining, says MOMAN
Players in the country’s petroleum sector, especially the downstream, are sceptical investing in local crude refining, owing to poor regulatory framework evident in the delay in non-assent to the Petroleum Industry Governance Bill (PIGB).
Mobil Oil increases profit by 67 per cent
Mobil Oil Nigeria Plc has recorded a profit after tax of N8.15 billion in 2016, representing a 67 per cent increase from the N4.87 billion earned in 2015.