Tag: Timipre Silva

Petrol price may hit N180 as oil nears $50

Aminu Imam

Ø  As FG, Labour leaders agree on price reduction to N162.44/litre The pump price of Premium Motor Spirit, popularly known as petrol, may hit N180 per litre this month, according to marketers, as oil prices extended their rally on Monday, with Brent crude trading near $50 per barrel.  Brent, the international oil benchmark, has risen by more than 15 per cent since November 13 when the pump price of petrol was adjusted in the country. It stood at $49.39 per barrel on Monday. The Minister of State for Petroleum Resources, Timipre…

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Nigeria to resume fuel imports from Niger Republic – FG

Aminu Imam

Nigeria, which is Africa’s biggest oil producer, is set to resume the importation of petroleum products from a neighbouring country, Niger Republic.The Ministry of Petroleum Resources announced on Thursday in a statement that the two countries signed a Memorandum of Understanding on Thursday for petroleum products transportation and storage.According to the statement, Niger Republic’s Soraz Refinery in Zinder, some 260km from the Nigerian border, has an installed refining capacity of 20,000 barrels per day. “Niger’s total domestic requirement is about 5,000bpd, thus leaving a huge surplus of about 15,000 bpd, mostly…

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