KEROSENE FULLY DEREGULATED, SAYS PPPRA

The Petroleum Products Pricing Regulatory Agency on Thursday said that the kerosene market had been fully deregulated and that there was no plan to increase petrol price. Its reaction on kerosene was based on the recent astronomical hike in the price of the product and calls by consumers as well as operators for an intervention by the Federal Government.

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NCDMB PLANS CATEGORISATION OF OIL, GAS FABRICATION YARDS

The Nigerian Content Development and Monitoring Board (NCDMB)  has said as parts  of it efforts  to support  investments  in the oil and  gas  sector it would soon embark on the categorisation of the over $10billion fabrication yards and other major service companies scattered across the country  for specific work scopes.

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TOTAL NIGERIA LAUNCHES TRUCK RENEWAL SCHEME

Total Nigeria unveiled new fleet of trucks in Lagos to launch its truck renewal scheme. The robust fleet acquisition scheme is targeted at renewing 20 percent of Total Nigeria’s fleet of trucks in 2017 in order to ensure a continuation of its sustainable business model.

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COURT REPRIMANDS FG FOR POOR HANDLING OF CASES AGAINST IOCS

Justice Mojisola Olatoregun of the Federal High Court in Lagos yesterday reprimanded the federal government for not diligently prosecuting its case against Shell and other oil companies. At the resumed hearing of the case yesterday, counsel to the plaintiff, Mr. Charles Nwabulu, informed the court of his application for amendment of his pleadings.

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EWT FABRICATES PILES FOR TOTAL’S $15BN EGINA PROJECT

A subsidiary of the Obijackson Group, Energy Works Technology Limited, has completed the fabrication of nine Oil Loading Terminal buoy anchor mooring piles for the Egina field development by Total Upstream Nigeria Limited. The piles were inaugurated on Tuesday during the load-out and sail-away ceremony at Nestoil Industrial Area, Abuloma Jetty, Port Harcourt.

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OPEC RAISES OIL FORECAST TO 95.60 MILLION BPD

The Organisation of the Petroleum Exporting Countries, in its latest Monthly Oil Market Report, raised its forecast for global crude oil demand to 95.60 million barrels daily, up by 1.16 million bpd from the estimated 2016 average of 94.44 million barrels daily.

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PROFITABLE RETAIL OPERATIONS BUOY TOTAL NIGERIA EARNINGS

In the midst of operating difficult which characterised much of 2016 Total Nigeria emerged the top earner on the back of its downstream operations. From the first quarter of 2016, the company maintained high growth momentum and ended the year as the leading company by earnings per share.

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