OIL & GAS

  Between January and July 2024, Nigeria lost an average of 437,000 barrels of crude oil daily, worth about $10bn due to theft, vandalism, and other criminal activities, the House of Representatives declared on Thursday. As a result, the House …

  The Federal Government, on Wednesday, warned International Oil Companies operating in Nigeria to desist from disregarding gas flare directives of various regulatory agencies in Nigeria. It stated that though a few IOCs often complied with these directives, most of …

  Midoil Refining and Petrochemicals Company Limited has finally performed the turning of sod ceremony, marking the commencement of construction activities in Lagos. The turning of the sod took place at Shekungba, Ikosi/Ejinrin Local Council Development Area of Lagos State …

The electricity distribution companies in Nigeria generated revenue of N291.62bn in the first quarter of 2024 amid the blackout in parts of the country. This was even as the nation lost 673 megawatts of power generation capacity due to gas …

The marginal rise in crude oil production in June 2024 increased Nigeria’s earnings from crude oil sales by about N91bn in the same month. Latest oil production data obtained from the Nigerian Upstream Petroleum Regulatory Commission, an agency of the …

  The President of Dangote Group, Aliko Dangote, has made an offer to sell the Dangote Refinery to the Nigerian National Petroleum Corporation Limited. Speaking in an exclusive interview with Premium Times on Sunday, the businessman expressed his willingness to …

  The Management of Dangote Industries Limited has insisted that the international oil companies are still frustrating crude supply to its 650,000-capacity refinery. The management said this even as it commended the Nigerian Upstream Petroleum Regulatory Commission for its various …

The Tax Appeal Tribunal has ordered Nigeria Liquefied Natural Gas Limited to pay the Federal Inland Revenue Service the sum of $27.5m as a full and final settlement of the revised Companies Income Tax for the 2016 assessment year. According …

  Oil marketers are awaiting the release of Premium Motor Spirit, popularly called petrol, from the Dangote Petroleum Refinery, as they revealed that managers of the plant have not reached any PMS pricing agreement with petrol retailers yet. It was …

  The Port Harcourt Refining Company is currently undergoing various licensing processes following the supply of crude to the plant after it was mechanically completed in December 2023. Senior officials at the Federal Ministry of Petroleum Resources and the Nigerian …

  The Group Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, has said Nigeria will be a net exporter of refined petroleum products by December this year, based on emerging indicators in the oil and gas sector. …

The Nigerian Electricity Regulatory Commission has rolled out touch sanctions against Discos that commit infractions capable of inflicting pain on consumers. Among other things, NERC said it would reduce five per cent of the administrative, and operational expenditure of any …

The Nigerian National Petroleum Company Limited is in talks for another oil-backed loan to boost its finances and allow investment in its business, the Group Chief Executive Officer, NNPC, Mele Kyari, has said. Sources familiar with the situation said the …

The use of Compressed Natural Gas in automobiles is 40 per cent cheaper than using Premium Motor Spirit, popularly called petrol, the Nigerian National Petroleum Company Limited announced on Thursday. NNPC also announced that 100 CNG stations would be functional …

Nigeria’s debt to suppliers of Premium Motor Spirit, popularly called petrol, has surpassed $6bn, doubling what it was since early April, as the Nigerian National Petroleum Company Limited struggles to cover the gap between fixed pump prices and international fuel …

In a bid to boost energy sector productivity, Shell International has partnered with Ardova Plc to launch the inaugural Power Conference, aimed at fostering dialogue around productivity and competitiveness in the industry. The Shell Power Conference, themed “Powering Nigeria’s Industries …

The Nigerian National Petroleum Company Limited, on Sunday, said it has commenced investigations into the incident where an attendant in one of its retail stations told customers to buy lubricants or engine oil before they can purchase Premium Motor Spirit, …

The Federal Government, on Thursday, met with transporters and stakeholders in the transportation sector in a bid to accelerate the adoption of Compressed Natural Gas and reduce the use of Premium Motor Spirit, popularly called petrol. At the meeting in …

The Federal Government, on Tuesday, declared that there was no importation of dirty fuel into Nigeria, countering the recent position of an official of the Dangote Petroleum Refinery. It declared this after meeting with oil marketers and local refiners of …

Following the start of operations at the Dangote refinery, the Airlines Operators of Nigeria has confirmed a reduction in the price of aviation fuel in the country. This development was achieved after the association met with the management team of …