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OIL & GAS

Gencos petition Presidency, NERC over admin charge

Gencos petition Presidency, NERC over admin charge

Power generation companies on Monday petitioned the Nigerian Electricity Regulatory Commission, the Presidency and other relevant  agencies of government over a recent administrative charge imposed on Gencos. In a letter dated September 30, 2019, addressed to the chairman of the ...

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Why Rivers acquired Shell’s 45% OML 11 –Wike

Why Rivers acquired Shell’s 45% OML 11 –Wike

The Rivers State Governor, Nyesom Wike, said on Monday that the state government decided to acquire Shell Petroleum Development Company’s 45 per cent stake in Oil Mining Lease 11 because it was in the best interest of the people of ...

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NNPC, Shell to evaluate 35,000bpd OML 25 damage

NNPC, Shell to evaluate 35,000bpd OML 25 damage

The joint venture partners in the 35,000 barrels per day Oil Mining Lease 25 are to evaluate the damage done on OML 25, the Group Managing Director, Nigerian National Petroleum Corporation, Mele Kyari, has said. JV partners in OML 25 ...

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Fuel scarcity looms as IPMAN threatens private depot owners over PEF arrears

Fuels Marketers To Improve Supply Ahead Of Yuletide

Independent Petroleum Marketers Association of Nigeria (IPMAN) yesterday warned of imminent scarcity of petroleum products, if private depot owners fail to settle backlog of Petroleum Equalisation Fund (PEF). Chairman of IPMAN, northwest zone, Bashir Dan-Mallam, issued the threat while briefing ...

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Crude oil demand’ll remain high beyond 2040 – NNPC

NNPC, Shell to evaluate 35,000bpd OML 25 damage

The Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, has said that fossil fuel will remain relevant in the global energy mix for decades to come. He said contrary to assumptions in some quarters, crude oil demand ...

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NNPC signs agreement with NAOC on four OMLs

NNPC signs agreement with NAOC on four OMLs

The Nigerian National Petroleum Corporation has signed a novation agreement with Nigerian Agip Oil Company on Oil Mining lease 60,61,62 and 63. Nigerian Agip Oil Company Limited operates in the Niger Delta, under a joint venture arrangement with NNPC (60 per ...

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‘Renewables to displace oil as top global energy source by 2040’

‘Renewables to displace oil as top global energy source by 2040’

Renewable energy will displace petroleum as the most-used global energy source in the late 2040s, but oil demand is not expected to peak before 2050, the United States Energy Information Administration, yesterday, in its latest long-term international outlook, said. EIA ...

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Again, DisCos at loggerheads with TCN over transmission infrastructure

Again, DisCos at loggerheads with TCN over transmission infrastructure

Inefficiency causes 5,300 interruptions, 100 systems collapse in 6yrs Electricity distribution companies under the umbrella of Association of Nigerian Electricity Distributors (ANED), yesterday, insisted that the inefficiency in electricity transmission infrastructure in the country remain a critical challenge to the ...

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FG reiterates plans to reduce stake in oil JVs to spur growth

FG reiterates plans to reduce stake in oil JVs to spur growth

Minister of State for Petroleum Timipre Sylva has reiterated the Federal Government’s resolve to reduce its stake in the joint venture oil business with foreign companies in a bid to spur more foreign investment in Africa’s largest oil producer. Sylva ...

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Cooking Gas Skids In Fuel Stations Dangerous – NALPGAM

Cooking Gas Skids In Fuel Stations Dangerous – NALPGAM

The Nigerian Association of Liquefied Petroleum Gas Marketers has expressed concern over the installation of gas skids in fuel stations across the country. NALPGAM described the siting of gas skids in petrol filling stations as dangerous and contrary to global ...

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NDPHC Completes Electrification Projects In 2000 Ondo Communities

Gencos petition Presidency, NERC over admin charge

The Niger Delta Power Holding Company Limited says it has completed electrification projects in about 2000 communities in Ondo South Senatorial District of Ondo State, which had been without electricity for over 10 years. Thousands of communities in the six ...

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Oil Theft: Shell Nigeria Deploys HD Aerial Cameras

Oil Theft: Shell Nigeria Deploys HD Aerial Cameras

Shell Petroleum Development Company of Nigeria Limited has said it has deployed state-of-the-art high definition cameras for quick detection of and response to crude oil spills from its facilities. The oil major said that the cameras would also help in ...

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Discos Move To Install Six Million Meters

Discos Move To Install Six Million Meters

The 11 power distribution companies operating in Nigeria have commenced moves to install six million meters in the residents of their respective customers between 2019 and 2022. Only 3,793,895, representing 42.9 per cent of the 8,840,801 registered electricity customers,  had ...

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Non-passage of PIB, regulations drag about $100b oil projects

Non-passage of PIB, regulations drag about $100b oil projects

With drawbacks in the passage of the Petroleum Industry Bill (PIB), as well as various unfavourable fiscal and regulatory frameworks, stakeholders have estimated $100 billion worth of projects awaiting final investment decisions in Nigeria’s oil and gas sector. Specifically, the ...

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Oil output to increase by 35,000bpd – NNPC

Saudi refinery attack shocking –NNPC

The Nigerian National Petroleum Corporation says the country’s crude oil production is poised for an increased output of 35,000 barrels per day. This is following the resolution of the dispute among Shell Petroleum Development Company, Belema Oil and host communities ...

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Gbajabiamila pledges to end estimated electricity billing system

Gbajabiamila pledges to end estimated electricity billing system

Speaker of the House of Representatives, Femi Gbajabiamila, has hinted that the lower chamber of the National Assembly will ensure that Nigerians get adequate supply for the electricity they pay for. Speaking when he received management team of the Transmission ...

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2020 Budget: FG Retains $55 Benchmark Despite Oil Price Spike

2020 Budget: FG Retains $55 Benchmark Despite Oil Price Spike

•Buhari deplores attacks on Saudi oil refinery, pledges solidarity •OPEC assesses impact of drone assaults on market Ejiofor Alike in Lagos, Omololu Ogunmade, Ndubuisi Francis and Chineme Okafor in Abuja with agency reports The federal government yesterday ruled out revising ...

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NNPC Agrees to $2.5bn Financing with Chinese Lender for Pipeline Project

NNPC Agrees to $2.5bn Financing with Chinese Lender for Pipeline Project

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has disclosed that the corporation has agreed to a $2.5 billion financing with a Chinese lender for pipeline project in Nigeria. Kyari also said that the ...

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Oil Prices Surge by 20% on Drone Strike on Saudi Arabia

Oil Prices Surge by 20% on Drone Strike on Saudi Arabia

Brent rises to six-month high of $71 Crude oil prices have surged more than 19 per cent after a drone strike on a Saudi Arabian oil facility wiped out about five per cent of global supplies. Brent prices, according to ...

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Border Closure Reduced Petrol Smuggling- NNPC

NNPC Agrees to $2.5bn Financing with Chinese Lender for Pipeline Project

The recent closure of Nigeria’s borders has significantly led to a reduction in the smuggling of Premium Motor Spirit, popularly known as petrol, out of Nigeria, the Nigerian National Petroleum Corporation has said. There were reports in July reported that ...

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