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On 1 January 2012, the Nigerian government headed by president Goodluck Ebele Jonathan, tried to cease the subsidy on petrol and deregulate the oil prices by announcing the new price for petrol as US$0.88/litre from the old subsidised price of US$0.406/litre (LAGOS), which in areas distant from Lagos petrol was priced at US$1.25/litre.
The price of petrol has increased from 65 naira ($0.40; £0.26) per litre to at least 141 naira in filling stations [6] and from 100 naira to at least 200 naira on the black market, from which many Nigerians buy their fuel.
Pakistan State Oil is a Pakistani petroleum corporation involved in marketing and distribution of petroleum products. [3] It has a network of 3,689 petroleum filling stations, out of which 3500 outlets serve the public retail sector and 189 outlets serve wholesale bulk customers.
In 2010, Nigeria provided about 10% of the United States' oil imports and ranked as the fifth-largest source for oil imports in the U.S. However, Nigeria ceased exports to the U.S. in July 2014 due to increasing competition from U.S. domestic oil production, itself the result of the massive growth of the oil shale industry. [19]
In August 2001, a new company called Pak-Arab Pipeline Company (PAPCO) was formed to construct and operate a critical 840 km white-oil pipeline for transportation of AGO from Karachi to depots in the centre and north of Pakistan. SPL has a 26% equity interest in PAPCO and the PAPCO's Chief Financial Officer remains a SPL nominee. [11]
In 2004, Pakistan Petroleum was listed on the Karachi Stock Exchange, following an initial public offering at PKR 55 per share. [4] In 2012, Pakistan Petroleum acquired MND operations in Pakistan for $180 million. [5] Later, it was unearthened that Pakistan Petroleum paid twice the market value and this resulted in the loss of PKR 6.21 billion. [6]
Map of Nigeria Development of carbon dioxide emissions. In 2018, Nigeria's primary energy consumption was about 155 Mtoe. [1] Most of the energy comes from traditional biomass and waste, which accounted for 73.5% of total primary consumption in 2018. The rest is from fossil fuels (26.4%) and hydropower. [1] [2]
Sui Southern Gas Company's history goes back to Sui Gas Transmission Company (SGTC) which was established in 1954 to purchase natural gas from Pakistan Petroleum Limited, which had discovered natural gas in Sui, Balochistan in 1952. [3]