By Michael Eboh Minister of State for Petroleum Resources, Chief Timipre Sylva in a statement in Abuja, noted that after a thorough examination of the economics of subsidising Premium Motor Spirit (PMS), also known as petrol, for domestic consumption, the federal government concluded that it was unrealistic to continue with the burden of subsidizing PMS […]

…Insists FG’ll not leave pricing to marketers alone By Michael Eboh The Petroleum Products Pricing Regulatory Agency (PPPRA) has explained that the increase in its guiding price of Premium Motor Spirit, also known as petrol, to N143.80 per litre was not as a result of the prices of crude oil alone, but mainly as a […]

By Emmanuel Elebeke Nigeria and Israel have agreed to sign a bilateral agreement in the area of Methanol Fuel Production Technology that would be of mutual benefit to both countries. The agreement was sealed on Monday when the Israeli Ambassador to Nigeria, Mr Shimon Ben Shoshan paid a courtesy visit to the Ministry of Science […]

By Udeme Akpan with Agency Report The global oil market remains dull as 50 unsold cargoes of Nigeria’s Bonny Light await buyers, indicating that the volatile market is still flooded with unsold stocks. Reuters, which confirmed the situation, disclosed that despite the coronavirus pandemic, India purchased a bulk of the nation’s crude yesterday. It stated: […]

By Adeola Badru The Ibadan Electricity Distribution Company (IBEDC) has vowed to meet the expectations of her customers looking forward to enjoying regular power supply during the Ramadan holiday. This is as the company also assured the customers of its readiness and availability of the technical crew to ensure any faults that may arise during […]