Nigeria imports 5.61bn litres of petrol between April and June – NBS

The National Bureau of Statistics said 5.61 billion litres of premium motor spirit (PMS) were imported into the country in the second quarter of 2019. The NBS disclosed this in its “Petroleum Products Importation and Consumption (Truck Out) Statistics (Q2 2019)” report released in Abuja. It said 1.38 billion litres of Automotive Gas Oil (AGO) […]

Oil edges up as storm hampers U.S. supply, glut forecasts weigh

Oil futures edged up on Friday as U.S. Gulf of Mexico crude output was halved by disruptions caused by a tropical storm, but concerns over a global surplus in the months ahead limited gains. Brent crude futures were up 31 cents to $66.83 a barrel by 11:21 a.m. EDT (1521 GMT). U.S. West Texas Intermediate […]

NNPC pays ExxonMobil Nigeria affiliate $833.57m final cash-call arrears, three years ahead of repayment plan

Three years ahead of a scheduled repayment agreement, state-owned oil company, Nigerian National Petroleum Corporation (NNPC) has paid ExxonMobil’s Nigeria affiliate, Mobil Producing Nigeria $833.57 million in final and full settlement of its cash-call obligation, the corporation announced in a statement made available to business a.m. The NNPC had signed what it tagged Cash-call Repayment […]