RELIEF AS PPPRA SLASHES NNPC’S ALLOCATION FOR Q2 FUEL IMPORTS

The Petroleum Products Pricing Regulatory Agency (PPPRA) has released the second quarter petrol import allocations to the Nigerian National Petroleum Corporation (NNPC) and the private oil marketing companies, a development that will potentially ease the current product shortages, THISDAY has learnt.

 

Read more @ Thisdaylive

 

NEW PETROL PRICE TEMPLATE NOT TRANSPARENT, SAYS NLC

The Nigeria Labour Congress on Sunday stated that the new petrol template, released by the Petroleum Products Pricing Regulatory Agency on Saturday, was not transparently done.   

The General Secretary of NLC, Dr. Peter Ozo-Eson, told our correspondent on the telephone that the Federal Government arrived at the figures without adhering to the law guiding the exercise.

 

Read more @ Punch Online

KACHIKWU ORDERS SPECIAL PETROL SUPPLY FOR HITCH-FREE FESTIVITIES

The Minister of State for Petroleum Resources and Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Ibe Kachikwu has directed the Pipelines and Products Marketing Company, PPMC, and Petroleum Products Pricing Regulatory Agency, PPPRA, to embark on renewed special supply intervention measures to ensure a country-wide availability of petroleum products ahead of the forthcoming yuletide and beyond.
 
The NNPC in a statement informed that the special supply intervention mechanism which entails the ramping up of additional supply via massive truck-out to guarantee product penetration to the nooks and crannies of the country teed-off over the weekend.

BUHARI IN TEHRAN, CANVASSES FAIR PRICING FOR GAS

President Muhammadu Buhari has charged the Gas Exporting Countries Forum (GECF) to take appropriate steps towards sustaining the pricing of gas at the international market for the benefit of member countries.

The President made the call during his remarks at the third summit of the GECF in Tehran, the capital city of Islamic Republic of Iran.

Read more @ The Guardian

GAS PRICING INTRIGUES HURTING NEW DEALS

The intrigues trailing the formalisation of the gas pricing at $2.50 may have been jeopardising numerous gas-to-power supply deals anticipated by the operating firms in the sector.

The price was approved by the former Minister of Petroleum, Mrs Diezani Alison-Madueke since August last year, but The Guardian gathered that the price has not been properly formalised by the appropriate quarters, thereby making it difficult for prospecting contractors to sign various supply agreements.

Read more @ The Guardian

FUEL SUBSIDY: FAILURE OF A 42-YEAR-OLD PRICE FIXING POLICY (4)

 

As the new president, Mohammadu Buhari settles into office today, it is clearly evident that one of the most urgent (may not necessarily be most important) task before him would the optimal decision on the lingering fuel crises (supply or pricing crises) which ironically welcomed him to office while bidding good (or bad) by to the former president Goodluck Jonathan last weekend.

With a flurry of arguments in the public media over the challenges of fuel crises concentrating on one dominant issue, subsidy, our series on this issue in today’s edition is taking a close look at the histonomics or (historical economics) side of the discuss on subsidy.

Read more @ SweetCrudeRep