OIL & GAS

The Federal Government has issued licenses to 17 Independent Electricity Distribution Networks operators, among which 10 are currently operational, the government announced on Tuesday. It disclosed this in the 2022 Market Competition Report released on Tuesday by the Nigeria Electricity …

No fewer than 23 oil blocks managed by both international and local oil companies, which are under crude oil Production Sharing Contracts with the Nigerian National Petroleum Company Limited, failed to produce crude or were inactive, the Federal Government has …

Cooking gas scarcity looms across the country as the price of the commodity hits an all-time high of N1,000 per kilogramme (kg) from N750. The sudden surge in gas prices has left many Nigerians scrambling for alternative means to cook, and …

The Federal has ended its monopoly of gas aggregation with a private investor operator expected to play actively in the midstream going forward. The private sector players hitherto operated in upstream and downstream of the sector. But the Petroleum Industry …

The Federal Government, on Thursday, said it was removing all exploration and production constraints in the oil sector as part of measures to tackle the divestments by international oil companies out of Nigeria. The Minister of State for Petroleum Resources …

Gas Cylinder The Nigerian Association of Liquefied Petroleum Gas Marketers has called on the Federal Government to find ways to ensure stability of gas prices and make it available to the common Nigerians. The NALPGAM National President, Abideen Olatunbosun, made …

A total of 108 power transmission towers were destroyed by vandals in various parts of the country between January 2022 and September this year, data obtained from the Transmission Company of Nigeria, on Monday revealed. It was gathered that the …

Mele Kyari The Nigerian National Petroleum Company and the Nigerian Content Development and Monitoring Board, on Monday, signed a Memorandum of Understanding with international oil companies to reduce contracting cycle in the sector to an optimal level of not more …

The Nigerian Power Consumers Forum has condemned the spate of disturbances on the national electricity grid and the recent fire incidents around power transmission infrastructure. NPCF’s Convener, Michael Okoh, raised the concern in a statement issued in Abuja on Thursday. …

Simbi The Federal Government raked in N4.3tn from the oil and gas in 2021, according to the Nigerian Extractive Industries Transparency Initiative. This was revealed in NEITI’s ‘Oil and Gas Industry Report for 2021’. According to the report, this represents …

Dangote Refinery •Dangote expects crude from NNPCL November, begins operations October •$3bn crude-for-loan deals, others put pressure on local supply The Dangote Petroleum Refinery is currently importing crude oil and expects its first crude cargo in two weeks’ time, the …

Nigeria’s national grid collapsed once more on Tuesday when power generation crashed from a peak of 3,594.60 megawatts at midnight to an alarming low of 42.7MW by midday. Subsequently, at noon, only the Delta Power plant was operational on the …

Mele Kyari Nigerian National Petroleum Company Limited (NNPCL) failed to remit $6.923 billion and swapped about $7.108 billion of crude under its Direct Sale Direct Purchase (DSDP) scheme in 2021, despite borrowing spree of the Muhammadu Buhari administration, amid dwindling …

The Adhoc Committee of the House of Representatives Investigating Crude Oil Theft and Loss of Revenue from Oil and Gas Companies Chaired by Rt. Hon Kabiru Alhassan Usman Rurum have continued to unearth stunning revelations of massive oil theft suggesting …

Nigeria lost over N8.7trillion at N758/$ between January and August because of the country’s inability to meet its quota allocated by the Organisation of Petroleum Exporting Countries (OPEC). This is coming amid a deeper debt crisis, with experts calling on …

The Federal Government has said that the nationwide blackout witnessed on Thursday is due to a fire incident and an explosion on the Kainji/Jebba 330kV line 2. Power consumers, however, kicked against the un-ending excuses of the government as regards …

The 650,000 barrels per day Dangote Refinery is yet to begin production after the August commencement date, earlier announced by the President, Dangote Group, Aliko Dangote. While delivering his speech at the official commissioning of the refinery by former President …

Nigeria’s crude oil refining capacity has further reduced to just 6,000 barrels per day, according to data obtained from the Organisation of the Petroleum Exporting Countries. In its latest Annual Statistical Bulletin 2023, obtained by media, OPEC said the country’s …

Oil worker The Federal Government, last year, lost the sum of N3.3tn gas revenue last year, as a result of drop in export due to low production, according to data obtained from a global professional body for the energy sector, …

Minister of Power, Adebayo Adelabu The Federal Government, on Wednesday, announced an increase in the prices of single-phase and three-phase pre-paid electricity meters, and declared that the hike takes effect from September 6, 2023. It announced this in an order …