Michael Eboh News Today : Breaking News, Live Updates & Top Stories | Vimarsana

By Michael Eboh The Federal Government has officially confirmed the return of fuel subsidy, as the Petroleum Products Pricing Regulatory Agency, PPPRA, yesterday, fixed the pump price of Premium Motor Spirit, PMS, also known as petrol, at N212.61 per litre, for the month of March. The new price, according to the PPPRA’s PMS guiding price, released to stakeholders, is supposed to commence from March 1st and run till March 31st, 2021. However, the fact that the price of the commodity is still been sold at an average of N170 in petrol stations across the country, meant that the Federal Governm...

DPR to upgrade downstream petroleum sector operations On By Michael Eboh The Department of Petroleum Resources, DPR, Tuesday, disclosed that it plans to upgrade operations in the downstream petroleum industry, leveraging on its ongoing automation process. In a statement in Abuja, Director/Chief Executive Officer of the DPR, Engineer Sarki Auwalu, stated that the upgrade would be to global standards and would be driven by its deployment of improved technology. Auwalu, who was speaking at a virtual meeting with members of the Major Oil Marketers Association of Nigeria, MOMAN, in Abuja, noted t...

Vanguard News DPR issues licence for establishment of first floating LNG plant On By Michael Eboh The Department of Petroleum Resources (DPR), yesterday, said it has issued a licence to UTM Offshore Limited, to establish the first floating Liquefied Natural Gas, LNG, production plant in the country. In a statement by its Head, Public Affairs, Mr. Paul Osu, the DPR disclosed that with receipt of the Licence to Establish, LTE, UTM Offshore, an indigenous oil and gas company, would be building the plant with a capacity for processing 176 million standard cubic feet of gas per day, MMSCFD. Speak...

By Michael Eboh The Department of Petroleum Resources (DPR), yesterday, disclosed that majority of the crude oil theft recorded in the country’s petroleum industry occur in the inland terminals, noting that it is practically impossible to steal crude oil from the offshore terminals. In a statement issued by its  Head, Public Affairs, Mr. Paul Osu, in Abuja, Director of the DPR, Engr. Sarki Auwalu, explained, however, that Nigeria has over 30 terminals with only five of them being land terminals. Auwalu, who was making a presentation before the House of Representatives Ad-hoc Committee on O...

13% Derivation: Eight states receive N6trn in 11 years — Report On By Michael Eboh Eight oil-producing states received N6.589 trillion from the Federation Account under the 13 per cent derivation principle, between 2009 and 2019, with little or no impact on the lives of citizens of the states, according to a report published by ACIOE Associates. The report, obtained, following its release, at a webinar in Abuja, to key officers of the National Assembly and aides to the President and Minister of Niger Delta Affairs, listed the states as Abia, Akwa-Ibom, Bayelsa, Delta, Edo, Imo, Ondo and Ri...