‘How government can stop wasting trillions on fuel importation’
Nigeria last year spent a whopping N3trillion importing about 18 billion litres of Premium Motor Spirit (PMS) popularly called petrol, the Petroleum Products Pricing Regulatory Agency (PPPRA) disclosed yesterday.
‘Underhand practices affecting downstream operations’
Oil marketers in the country have decried the continued pervasion of underhand practices in the downstream sector, describing such practices as affecting business performance and corporate governance.
Marketers deny scarcity of aviation fuel amid rising demand, prices
Though there are indications that the demand for aviation fuel has risen by about 50 per cent in recent days as against supply, the Nigerian National Petroleum Corporation (NNPC), Major Oil Marketers Association...
Operators reiterate need for downstream sector deregulation
Operators alongside managing Director of Financial Derivatives Company Ltd, Bismarck Rewane and other operators, has called on the government to urgently deregulate the downstream sector...
MOMAN seeks deregulation, denies NNPC’s N305/$1 claim on fuel importation
The Major Oil Marketers Association of Nigeria (MOMAN) has said total deregulation of the downstream sub-sector remains the best option, as no marketer is getting foreign exchange at N305 to a dollar for importation of petrol. Its chairman, Tunji Oyebanji who made the clarifications on the side-lines of the just concluded Nigerian Oil and Gas…
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).
Fuel punishment for Nigerians at Christmas
The threat last week by oil marketers to shut down depots nationwide over unpaid subsidy debts shows that except something is done urgently to settle this matter; the usual fuel scarcity that defines Nigeria could resurface any moment across the country even as people are preparing for Christmas and New Year festivities. The question is…
N800b subsidy debt: Oil marketers deny signing pact with FG
Oil marketers have rebutted any agreement with the Federal Government to discontinue their planned industrial action hinged on the N800bn...