• FG to scrap NNPC, DPR, PPPRA, others; to sell unprofitable refineries

    FG to scrap NNPC, DPR, PPPRA, others; to sell unprofitable refineries

    According to reports, the Federal Government’s draft National Oil Policy has proposed to consolidate Nigeria’s oil industry regulatory authorities into a single agency to be known as Petroleum Regulatory Commission, PRC.

    It will also scraps all other regulators, including the Nigerian National Petroleum Corporation, NNPC, Department of Petroleum Resources, DPR, and Petroleum Products Pricing Regulatory Agency, PPPRA, among others.

    According to the document released by the Ministry of Petroleum Resources, last weekend, the new regulator will incorporate the activities of the existing […]

  • PPPRA owes FG N771bn – Reps

    PPPRA owes FG N771bn – Reps

    Chairman, Senate Committee on Works, Sen. Kabiru Gaya, on Monday said the Petroleum Product Pricing Regulatory Agency, PPPRA, failed to remit the five per cent pump price levy to the federal government.

    Gaya spoke in Abuja at the Public Hearing organised by the House of Representatives Committee on Works.

    The hearing was on the repeal of the Federal Roads Maintenance Agency Act 2002 and on Federal Roads Authority Bill, 2016 and National Roads Fund Establishment Bill.

    Gaya stated that the five per cent […]

  • Fuel scarcity looms as DPR, PPMC, PPPRA join PENGASSAN on strike

    Fuel scarcity looms as DPR, PPMC, PPPRA join PENGASSAN on strike

    The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), other members of the oil and gas industry, such as Department of Petroleum Resources (DPR), Petroleum Products Pricing Regulatory Agency (PPPRA), have announced plans to go on strike.

    A statement signed by the National Public Relation Office , PENGASSAN, Comrade Emmanuel Ojugbana, called on all chairmen and secretaries in the four zones and branches to comply with the new directive.

    He said “In the meeting, the gradual method of shutdown was […]

  • Why petrol must sell at N145 per litre – PPPRA explains

    Why petrol must sell at N145 per litre – PPPRA explains

    The Federal Government on Wednesday announced a new price regime for petrol, with the highest price of N145 per litre. The Petroleum Products Pricing Regulatory Agency said in Abuja that the new price regime had taken effect from Wednesday.

    The Nigerian National Petroleum Corporation, however, advised its retail stations on the outskirts of major cities to sell at prices lower than N145 per litre.

    In a statement, the PPPRA said: “This review became imperative in the face of extreme difficulties faced by petroleum […]

  • The moves by N’Assembly to scrap NNPC, DPR, PPPRA send shock waves across oil industry

    The moves by N’Assembly to scrap NNPC, DPR, PPPRA send shock waves across oil industry

    According to reports, the current move by the National Assembly to scrap the Department of Petroleum Resources (DPR), the Petroleum Products Pricing and Regulatory Agency (PPPRA) and the Nigeria National Petroleum Corporation (NNPC) through its new version of the Petroleum Industry Bill (PIB), Petroleum Industry Governance Bill (PIGB) has sent shock waves across the oil industry.

    National Assembly’s version of the controversial PIB clearly recommends the dissolution of the NNPC, DPR and PPPRA.

    Part three (3) of the Petroleum Industry Governance Bill, […]