Monthly Archives: April 2016

DPR seals up 24 petrol stations in Cross River, Akwa Ibom

The Department of Petroleum Resources (DPR) in Akwa Ibom and Cross River States has announced that no fewer than 24 filling stations have been sealed in both states for engaging in illegalities, especially the diversion of Premium Motor Spirit (PMS) to non-designated places, ThisDay reports. DPR’s Operation Controller in charge of the two states, Mr…
Read more

Theft, vandalism reduce efficiency of petrol pipelines, depots

Against the backdrop of the current fuel scarcity plaguing the country, industry stakeholders have decried the state of disrepair most of the nation’s fuel pipelines and depots have fallen into, The Punch reports. They said pipeline vandalism and oil theft in parts of the country had worsened the nation’s fuel supply and distribution challenges. The activities…
Read more

Ondo petrol marketers reject N86.50/litre, close filling stations

Ondo petrol marketers (Petroleum Filling Stations and Owners Association) on Wednesday ordered their members to close their outlets in Akure, Ondo State capital, ThisDay reports. The closure was sequel to the alleged  harassment and intimidation of members by government agencies, including the Department of Petroleum Resources (DPR), the Nigeria Security and Civil Defence Corps (NSCDC), the police…
Read more

World Bank raises 2016 oil price forecast to $41/barrel

The World Bank has raised its 2016 oil price forecast up from the previous level of $37 per barrel to a new height of $41. The World Bank yesterday said the crude oil market rebounded to $40 per barrel in April following production disruptions in Iraq and Nigeria and a decline in non-Organisation of the Petroleum Exporting…
Read more