Tag: Oil

  • MURIC HAILS FG FOR SUSPENDING FUEL IMPORTATION, CALLS FOR 100% CRUDE OIL SUPPLY TO LOCAL REFINERIES

    MURIC HAILS FG FOR SUSPENDING FUEL IMPORTATION, CALLS FOR 100% CRUDE OIL SUPPLY TO LOCAL REFINERIES

     

    ‎The Federal Government (FG) yesterday suspended petrol imports into the country due to noticeable boost in local production.

    ‎‎Meanwhile an Islamic human rights ‎organisation, the Muslim Rights Concern (MURIC), has commended FG for the suspension. The group also advocated for adequate supply of crude oil to local refineries in order to encourage self-sustainability in energy for Nigeria.

    ‎‎This was contained in a statement circulated to newsmen on Thursday, 12th March, 2026 by the Executive Director of MURIC, Professor Ishaq Akintola.

    ‎‎Full details of the press release:

    ‎‎The Federal Government (FG) yesterday suspended petrol imports into the country after noticeable boost in local production (https://www.channelstv.com/2026/03/11/fg-suspends-petrol-imports-over-boost-in-local-production/).

    ‎‎”This is a commendable step. Local production has received additional oxygen with this new policy. It is forthright and nationalistic. But as we hail FG for widening the market for local refineries and blocking the likelihood of saturation through excessive and unnecessary inflow of petroleum products, we must at the same time remind government to enable full and effective operation in the local refineries by supplying them with 100% crude oil.

    ‎‎”It stands logic on its head if in spite of decades of suffering from fuel scarcity, a refinery like Dangote emerges but still it cannot get 100% crude oil supply.

    ‎‎”Reports of the supply of only 28% to 32% of the crude oil required by Dangote Refinery is not only disturbing but nauseating. This is where nationalistic proclivities should come in.

    ‎‎”We therefore urge President Bola Ahmed Tinubu to issue an executive order for the supply of 100% crude oil required by local refineries.‎

    ‎”Another commendable step taken by FG is the release of 100,000 CNG buses to alleviate the transportation challenges faced by Nigerians. However, this policy needs to be complemented by an executive order that 100% crude be supplied to local refineries especially at this critical time.

    ‎‎”We cannot expect a humongous refinery like Dangote which has to go to traders and middle men to buy more than 72% of the crude oil required by it to avoid factoring this unnecessary overhead into its price policy. FG has the capacity to make life easier for Nigerians by making 100% crude oil supply its cardinal policy. Nigerians will hail Mr. President if he could issue an executive order today to kick-start this policy.”

     

     

  • Bangladesh Seeks US Approval to Import Russia Fuel Oil

    Bangladesh Seeks US Approval to Import Russia Fuel Oil

     

    Request comes as global energy supplies tighten and prices remain volatile

    Faisal Mahmud

    DHAKA, Bangladesh

    Bangladesh has requested approval from the US to import fuel oil from Russia similar to temporary concessions granted to India amid tensions in the Middle East and disruptions in global energy markets.

    The issue was discussed during a meeting Wednesday between Bangladesh’s Finance Minister Amir Khasru Mahmud Chowdhury and US Ambassador to Bangladesh Brent Christensen at the Planning Ministry in Sher-e-Bangla Nagar, Dhaka.

    Speaking to journalists after the meeting, Chowdhury said such a concession would significantly benefit the national economy during the current global energy crisis.

    The US has reportedly assured that the matter will be communicated to authorities in Washington for further consideration.

    The discussion between the two sides focused on uncertainties in the global energy market, particularly the supply of oil and gas.

    Chowdhury said the meeting also explored ways to strengthen bilateral cooperation between Bangladesh and the US in trade, investment and economic development.

    The global energy market has become unstable following escalating conflicts in the Middle East. The crisis intensified after the US and Israel launched a joint attack on Iran on Feb. 28, which was followed by retaliatory actions by Tehran.

    As a result, fuel shipments through the Strait of Hormuz — one of the world’s most important routes for oil transportation — have been disrupted. This has halted or reduced energy supplies from Persian Gulf countries, creating volatility in international energy markets.

    Meanwhile, sanctions imposed by the US on Russia after its invasion of Ukraine in February 2022 continue to affect global oil trade.

    Despite these restrictions, Washington recently allowed India temporary flexibility to purchase Russian oil that had been stranded at sea due to the sanctions.

    Bangladesh hopes to receive a similar exemption to help stabilize its energy supply and reduce pressure on its economy.

    During the meeting, the two sides also discussed enhancing institutional capacity within Bangladesh’s government agencies.

    Asked about the possibility of a bilateral trade agreement with the US, Chowdhury said there has been no specific decision yet. He added that the government is carefully considering how any such agreement could best serve Bangladesh’s national interests.

    He also said that the government is preparing contingency plans to address possible scenarios if the Middle East conflict continues for the short, medium or long term.

  • Tinubu’s robust reforms in the oil sector behind sudden surge in Nigeria’s oil rig count- TMSG

    Tinubu’s robust reforms in the oil sector behind sudden surge in Nigeria’s oil rig count- TMSG

     

     

    By Danladi Ahmed
    ‎The Tinubu Media Support Group (TMSG) has said that President Bola Tinubu deserves plaudits for the sudden surge in active oil rigs in Nigeria’s upstream oil sector in the last 28 months.

    ‎It stated this on the heels of recent disclosures by the Nigerian Upstream Regulatory Commission (NUPRC) that oil rigs operating in the country as of October 2025 had risen to 69, up from 15 in May 2023.

    ‎In a statement signed by its Chairman Emeka Nwankpa and Secretary Dapo Okubanjo, TMSG pointed out that the development signposts heavy investor confidence in Nigeria’s oil and gas sector, in the aftermath of sweeping reforms by the Tinubu administration as well as the Petroleum Industry Act (PIA 2021).

    ‎It said: “When President Bola Tinubu first declared that Nigeria was ready for business, it was clear to those with a fair idea of his antecedents that he knew what he was doing and this is further exemplified by the renewed activities in Nigeria’s upstream sector on his watch.

    ‎“We have noticed that in the aftermath of the executive orders issued by the President on fiscal incentives for the oil and gas sector, investors have been showing tremendous interest to the extent that oil rigs operating in the country have increased exponentially.

    ‎“We invite Nigerians to note that after the rig counts improved to 15 as of June 2023 from 8 in 2021, there has been a quantum leap to 69, representing more than a 700% increase in what is technically used as a metric to gauge activities in the oil and gas sector.

    ‎“For the avoidance of doubt, the latest rig count of 69, which comprises 40 active rigs, 8 on standby, 5 on warm stack, 4 on cold stack and 12 on the move, is a massive reflection of how the sector has fared in recent years.

    ‎“It is therefore not surprising that Nigeria was credited with three of the four Final Investment Decisions (FIDs) in Africa’s oil sector in 2024 alone, attracting over $5 billion in new capital.

    ‎”What this means is that the country is on track to further boost its daily crude production capacity, which has grown to 1.68 million barrels per day (bpd) to 2 million in 2027 and 3 million by 2030, respectively.

    ‎”We need to specifically add that this resurgence is largely as a result of President Tinubu’s Upstream Petroleum Operations Cost Efficiency Incentives Order (2025) signed in May.

    ‎”The executive order introduces performance-based tax incentives to reward operators who achieve verifiable cost savings against annual benchmarks set by the NUPRC.

    ‎”This is aside from the previous Executive Orders on improved fiscal terms, timelines for project approvals, and local content rules, as well as the PIA, which paved the way for the Tinubu oil sector reforms.

    ‎”And of course, these policies have also encouraged local firms to acquire divested assets from international oil companies at a time when many thought that the IOCs’ exit would spell doom for the country.

    ‎”As for benefits accruing to oil-bearing communities, it is gratifying to note there are about 536 projects, including schools, health centres, roads and vocational centres at various levels of completion, funded by a trust fund provided for by the PIA from the operating expenses of oil firms.

    ‎”We have no doubt that this administration will ensure that the improvement in the oil sector will translate to better benefits for the country, not only in foreign exchange inflows but also pave the way for a more diversified economy.”

    ‎The group urged Nigerians to continue to believe in the capacity and decisive direction of the focused Tinubu administration to ensure a more resilient economy with its pro-business approach to governance with attaining an ambitious 1 trillion dollar economy in mind.


    ‎END

  • Nigeria losing war against oil theft, Ijaw group tells Tinubu, NSA, others

    Nigeria losing war against oil theft, Ijaw group tells Tinubu, NSA, others

     

    ….Cautions against re-awarding pipeline surveillance contracts to current beneficiaries

    A sociocultural group, the Southern Ijaw Unity Forum, says Nigeria is losing the war against oil theft.

    The group told President Bola Tinubu; the National Security Adviser (NSA), Nuhu Ribadu; the Nigerian National Petroleum Company Limited (NNPCL) and other stakeholders in the oil sector in a statement made available to newsmen on Monday in Abuja.

    The Chairman, Southern Ijaw Unity Forum, Comrade Timothy Amadiowei, in the statement, called on the Federal Government not to re-award the pipeline surveillance contracts to the current beneficiaries whose contracts have expired.

    Amadiowei said rather, the contracts be decentralised across board for all major stakeholders in the Niger Delta struggle.

    According to him, this is because Nigeria is not making any progress at all in the fight against oil theft, pipeline vandalisation and illegal refining of petroleum products.

    He hinged the failure on the Federal Government’s refusal to heed wise counsel from the outset.

    Amadiowei said that the development had resulted in oil theft under the cover of surveillance activities, brewing crisis in the Niger Delta and loss of innocent lives in illegal detention centres, which he said, are capable of smearing the image of the Nigerian government at the international level.

    He said “the Muhammadu Buhari-led government and the NNPCL were made to believe the illusion that one man is king of the Niger Delta and that awarding the pipeline surveillance contract to him would automatically end the war against oil theft.”

    He said this fairytale is what made the Federal Government to neglect the expertise of other renowned freedom fighters in the Niger Delta, and awarded the contract to one man alone to secure pipelines in the territories of other ex-agitators who have paid their dues and worked so hard to ensure peace and political stability in the region but were later pushed aside.

    Amadiowei reminded the nation that it is not only the current beneficiaries that worked for the APC government.

    According to him, it is very unfair that after major stakeholders like Alhaji Asari Dokubo and Endurance Amagbein, among others, have worked so hard for the APC government, they are neglected and what should have been shared evenly amongst the ex-militants for equity and fairness was given to one man who has refused to carry people along.

    He said the Federal Government is winning the fight against oil theft only on the news, but in reality, the illegal business is thriving daily – with most filling stations selling only adulterated fuel.

    He urged President Tinubu, the Group Chief Executive Officer of NNPCL, Mr. Bashir Bayo Ojulari, and the NSA, Ribadu, to take the bold step in correcting the errors made by the past administration, and yield to the demand of the Niger Delta people that the pipeline surveillance contracts be decentralised and shared to all deserving stakeholders.

    Amadiowei urged the Federal Government not to engage in shadowboxing when help is available.

    He said, “The only solution to oil theft and illegal refining of petroleum products is decentralisation, because nobody is happy with the anomalies on ground.

    “Every stakeholder is angry with the current arrangement, how can one man from Delta State whose kingdom comprises only eight communities be awarded a surveillance contract to secure pipelines in the territories of other stakeholders as in the case with Bayelsa State?

    “Carry everybody along, and you’ll see the difference, and I can tell you boldly that there are renowned ex-agitators who have the answers the government is seeking, but they are just watching the Federal Government struggle because the government has failed to approach them for help.

    “If you think you’ve seen pipeline security, then wait until the likes of Alhaji Asari Dokubo, King Ateke Tom and Endurance Amagbein, who understand the Niger Delta terrain more than anybody else, come into the picture with what they have to offer.

    “And so we are joining the host of other Niger Delta stakeholders who have seen that the only way to win this fight is decentralisation and bringing everyone onboard.

    “Let everybody secure their own domains, because if anybody is doing illegal bunkering in my community, I know them and I know how to deal with them, but a stranger does not know them and so it’s difficult to stop them.

    “If you are from Delta State, stay in Delta and secure the pipelines in your area, if you are from Rivers State, stay in Rivers and secure pipelines there, if you are from Bayelsa, stay there and secure pipelines there, likewise the other states producing crude oil and gas.

    “This is not the time to re-award all the pipeline surveillance jobs in the entire Niger Delta to one man, this is the time to share it among the major stakeholders so that they can cover the whole area to put an end to oil theft.”

  • Nigeria losing war against oil theft, Ijaw group tells Tinubu, NSA, others

    Nigeria losing war against oil theft, Ijaw group tells Tinubu, NSA, others

     

    ….Cautions against re-awarding pipeline surveillance contracts to current beneficiaries

     

    A sociocultural group, the Southern Ijaw Unity Forum, says Nigeria is losing the war against oil theft.

    The group told President Bola Tinubu; the National Security Adviser (NSA), Nuhu Ribadu; the Nigerian National Petroleum Company Limited (NNPCL) and other stakeholders in the oil sector in a statement made available to newsmen on Monday in Abuja.

    The Chairman, Southern Ijaw Unity Forum, Comrade Timothy Amadiowei, in the statement, called on the Federal Government not to re-award the pipeline surveillance contracts to the current beneficiaries whose contracts have expired.

    Amadiowei said rather, the contracts be decentralised across board for all major stakeholders in the Niger Delta struggle.

    According to him, this is because Nigeria is not making any progress at all in the fight against oil theft, pipeline vandalisation and illegal refining of petroleum products.

    He hinged the failure on the Federal Government’s refusal to heed wise counsel from the outset.

    Amadiowei said that the development had resulted in oil theft under the cover of surveillance activities, brewing crisis in the Niger Delta and loss of innocent lives in illegal detention centres, which he said, are capable of smearing the image of the Nigerian government at the international level.

    He said “the Muhammadu Buhari-led government and the NNPCL were made to believe the illusion that one man is king of the Niger Delta and that awarding the pipeline surveillance contract to him would automatically end the war against oil theft.”

    He said this fairytale is what made the Federal Government to neglect the expertise of other renowned freedom fighters in the Niger Delta, and awarded the contract to one man alone to secure pipelines in the territories of other ex-agitators who have paid their dues and worked so hard to ensure peace and political stability in the region but were later pushed aside.

    Amadiowei reminded the nation that it is not only the current beneficiaries that worked for the APC government.

    According to him, it is very unfair that after major stakeholders like Alhaji Asari Dokubo and Endurance Amagbein, among others, have worked so hard for the APC government, they are neglected and what should have been shared evenly amongst the ex-militants for equity and fairness was given to one man who has refused to carry people along.

    He said the Federal Government is winning the fight against oil theft only on the news, but in reality, the illegal business is thriving daily – with most filling stations selling only adulterated fuel.

    He urged President Tinubu, the Group Chief Executive Officer of NNPCL, Mr. Bashir Bayo Ojulari, and the NSA, Ribadu, to take the bold step in correcting the errors made by the past administration, and yield to the demand of the Niger Delta people that the pipeline surveillance contracts be decentralised and shared to all deserving stakeholders.

    Amadiowei urged the Federal Government not to engage in shadowboxing when help is available.

    He said, “The only solution to oil theft and illegal refining of petroleum products is decentralisation, because nobody is happy with the anomalies on ground.

    “Every stakeholder is angry with the current arrangement, how can one man from Delta State whose kingdom comprises only eight communities be awarded a surveillance contract to secure pipelines in the territories of other stakeholders as in the case with Bayelsa State?

    “Carry everybody along, and you’ll see the difference, and I can tell you boldly that there are renowned ex-agitators who have the answers the government is seeking, but they are just watching the Federal Government struggle because the government has failed to approach them for help.

    “If you think you’ve seen pipeline security, then wait until the likes of Alhaji Asari Dokubo, King Ateke Tom and Endurance Amagbein, who understand the Niger Delta terrain more than anybody else, come into the picture with what they have to offer.

    “And so we are joining the host of other Niger Delta stakeholders who have seen that the only way to win this fight is decentralisation and bringing everyone onboard.

    “Let everybody secure their own domains, because if anybody is doing illegal bunkering in my community, I know them and I know how to deal with them, but a stranger does not know them and so it’s difficult to stop them.

    “If you are from Delta State, stay in Delta and secure the pipelines in your area, if you are from Rivers State, stay in Rivers and secure pipelines there, if you are from Bayelsa, stay there and secure pipelines there, likewise the other states producing crude oil and gas.

    “This is not the time to re-award all the pipeline surveillance jobs in the entire Niger Delta to one man, this is the time to share it among the major stakeholders so that they can cover the whole area to put an end to oil theft.”

  • TMSG excited by NNPCL’s recent report of zero crude oil theft on oil terminal pipelines

    TMSG excited by NNPCL’s recent report of zero crude oil theft on oil terminal pipelines

     

    By Danladi Ahmed

    ‎The Tinubu Media Support Group (TMSG) has welcomed the recent revelation that the crude oil theft from pipelines leading to external terminals has been halted, describing it as a good development for the oil industry.

    The group also sees it as a major boost to efforts by the President Bola Tinubu administration to ramp up daily oil production and exports.

    ‎In a statement signed by its Chairman Emeka Nwankpa and Secretary Dapo Okubanjo, TMSG said that the new development will put Nigeria on the path to achieving its ambitious 2026 target of 2.5 million barrels per day (bpd) crude production.

    ‎The statement read in part, “We see the recent revelation by the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL),  Mr. Bayo Ojulari, as one of the best and most inspiring developments in the nation’s critical oil sector in recent years.

    ‎”This is because oil theft has been a major concern in a sector that is known to deliver the lion’s share of Nigeria’s foreign exchange earnings.

    ‎”Things were so bad at a point, as enumerated by the NNPCL’s helmsman, that Nigeria was barely able to move 30 per cent of its daily crude production through the pipelines to the export terminals. This is aside from the incessant sabotage of oil infrastructure in oil-producing areas.

    ‎”But today, things appear different based on the revelation that coordinated efforts by defence agencies and private security contractors have nearly eliminated threats to oil exports to the extent that the terminals are receiving close to 100% supplies.

    ‎”For us, it’s a validation of ongoing efforts by the President Bola Tinubu administration to make the oil and gas sector not only secure and conducive to operations, but also attractive to investors.

    ‎”What this means is that it will now be easier for the country to meet its daily production target of 2.5 million bpd, having consistently hit its OPEC quota of 1.7 million bpd this year.

    ‎”We also see it as a boost to recent reforms introduced by the President to unlock more investments in the oil and gas sector that recorded massive foreign investment commitments of about $16 billion in 2024 alone.”

    ‎The group added that it is also a good development that the general security situation in the Niger Delta region has improved considerably in the last few years showing clear indications of more positive prospects for the national economy in the years ahead.



  • Niger Delta Ex-agitator, Amagbein, calls for legal, strategic reforms in oil and gas sector

    Niger Delta Ex-agitator, Amagbein, calls for legal, strategic reforms in oil and gas sector

    Niger Delta ex-agitator and the self-styled General Endurance Amagbein, has called for urgent reforms in the nation’s oil and gas sector in order to engender massive development in the oil-rich region.

    Amagbein, in a statement issued to newsmen on Thursday by his media assistant, Alhaji Tobiah Never-Die, said the Niger Delta’s situation has reached the level where it can only be addressed through legal and strategic reforms.

    He said he is very appreciative of the existing legal and strategic frameworks consciously developed by the efforts of successive governments since the era of late President Umaru Musa Yar’adua who established the Presidential Amnesty Programme (PAP) which the administration of President Bola Ahmed Tinubu has sustained.

    Amagbein said he is also aware of the inroads ushered in the Niger Delta by the NDDC in the areas of youth empowerment through scholarships and other vocational trainings, provision of solar streetlights and so forth – not forgetting the Petroleum Industry Act which stipulates 3% production development plan for host and impacted communities.

    However, Amagbein popularly known as Adaka Boro the second, said he is very worried about the continuous worsening conditions of living in the Niger Delta and other pitiable situations the people are faced with.

    According to him, these situations are brought on by the inherent inadequacies in the existing legal and institutional framework; saying that since the passage of the Petroleum Industry Act, no significant change has been witnessed in the Niger Delta in terms of development.

    He said this is happening because the existing legal framework does not set standard of operations, maintenance and remediation and sanction plans for oil producing companies operating in the Niger Delta, as the 3% development plan is grossly inadequate.

    He lamented that the law seems to be silent on the plight of the communities suffering from gas flaring and oil pollution brought about by pipeline sabotage and maintenance standards.

    Aside this, he stressed that another worrisome situation is the fact that industry regulators appear not to have taken into account indigenous and local content regime when awarding surveillance contracts – thereby creating imbalance in the system.

    Amagbein said awarding surveillance contracts to individuals in one LGA/State over oil facilities in another LGA/State offends the indigenous and local content regime; stressing that the idea of having strangers to man oil facilities in another man’s LGA/State is counterproductive.

    While stressing the need for equity and fairness to all stakeholders, Amagbein stressed the need for legal and institutional reforms with particular focus on the Niger Delta – so that everyone can benefit from the system and not have their fates decided by one man.

    Amagbein reiterated his support for President Bola Tinubu; saying that the people of the Niger Delta are solidly behind him for sustaining peace in the region.