OIL & GAS
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‘Kerosene price hit N1,041.05 per litre in October’
The National Bureau of Statistics has said the average retail price of household kerosene paid by consumers in October was…
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RMAFC, EFCC uncovers oil firms’ $205m unremitted funds
The Revenue Mobilisation Allocation and Fiscal Commission has said that it discovered $205.01m unremitted to the federation account by oil…
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2022 NNPC, NIPCO, Lekki Free Zone sign gas agreement
The Nigeria National Petroleum Company Ltd and NIPCO Gas Limited have penned their signature on a gas infrastructure agreement with…
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Deepwater Oil And Gas Production To Rise 60pct By 2030
Deepwater production is set to increase by over 60% between 2022 and 2030, growing from 6% to 8% of…
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Global Oil Market Flashes Warnings
The global oil market keeps sending up flares on the outlook for weaker demand. In the latest, a closely-watched gauge…
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Namibia Plans Railway Revamp To Boost Regional Coal Exports
Namibia’s state-owned railway company TransNamib plans to shift coal exports from Botswana off the road and onto rail by early…
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Ghana Plans To Buy Oil With Gold Instead Of U.S. Dollars
Ghana’s Vice President, Mahamudu Bawumia has said that the country is developing a new strategy that would see it purchase…
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Excess Crude Account falls by 89% to $472,513
Nigeria’s excess crude account has declined by 89 per cent in the last eight years, moving from $4.1bn in…
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Shell to boost Nigeria oil production by 225,000bpd
Shell Nigeria Exploration and Production Company Limited’s 225,000 barrels per day Bonga Floating Production Storage and Offloading vessel is set…
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Oil theft: Nigeria loses $2bn in eight months
The ad-hoc committee set up by the Senate to investigate oil theft and consequent damage on the nation’s economy said…
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Fuel queues resurface in Lagos, marketers blame depots
…marketers lament new tax regime Long queues surfaced in Lagos on Tuesday as motorists spent hours at filling stations while…
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Buhari inaugurates $3bn oil exploration project in North-East
The President, Major General Muhammadu Buhari (retd.), on Tuesday, flagged off the commercial production of crude oil and gas from…
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Cooking gas price increases by 0.21% in October
The average price of 5kg cooking gas rose by 0.21 per cent from N4,474.48 in September to N4,483.75 in October.…
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Nigeria drops to seventh on OPEC production list
Nigeria now ranks seventh on Organisation of the Petroleum Exporting Countries’ crude oil production list, according to the organisation’s Monthly…
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MPC: N1.9tr Petrol Subsidy Expenditure Hurts Fiscal Sustainability
The Federal Government’s N1.9 trillion seven-month expenditure on petrol subsidy has severe impact on the economy, especially on the country’s…
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Germany Completes Construction Of Wilhelmshaven Floating LNG Terminal
Germany on Tuesday completed construction of its first floating terminal for liquefied natural gas (LNG) at the North Sea…
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Gas Exporting Countries Seek Gas Financing For Africa
The Gas Exporting Countries Forum (GECF) secretary-general Mohamed Hamel, has canvassed for more financing to facilitate Africa’s access to its…
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FG Confirms Optimal Fuel Supply For Yuletide As Production Hits 1.5mbpd
The Federal Government through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced that there is sufficient…
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AfDB invests $20m in Africa’s renewable energy
The Board of Directors of the African Development Bank Group today approved an equity investment of $20m in Evolution…
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No digital economy without stable electricity – Sahara Power
The Group Managing Director, Sahara Power Group, Kola Adesina, has stated that without adequate supply of electricity, the target of…
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