OIL & GAS
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Nigeria’s crude oil production rigs drop by 37.5%, says OPEC
The number of functional crude oil production rigs in Nigeria decreased by 37.5 per cent to just 10 operational rigs in…
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Reps allege cover-up on refineries, summon Sylva, Kyari, others
The House of Representatives’ Ad Hoc Committee on the State of Refineries in Nigeria has summoned the Minister of…
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Oil price rises as OPEC projects steady demand growth
Brent, the global benchmark for crude oil, rose marginally in price on Thursday, as the Organisation of Petroleum Exporting Countries…
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Cooking gas price jumps by 83% in one year –NBS report
THE average retail price for cooking gas increased by 83.62 per cent from N2057.71 in March 2021, according to…
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$2.6bn gas pipeline’ll boost midstream, upstream activities – Oilserv
The $2.6bn Ajaokuta-Kaduna-Kano gas pipeline project is being developed to boost activities in the midstream and upstream arms of the…
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IOCs, others review presidential panel’s regulations on Petroleum Industry Act
International oil companies and other stakeholders in the upstream arm of Nigeria’s oil and gas sector have commenced the review…
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Stakeholders canvass stronger recovery plans for IOC debts
• IOCs, indigenous players still owe FG N1.3tr amid borrowing • Banks loans to oil and gas companies jump to N5.68tr• Govt’s…
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Vandalism, others push oil firms’ bank borrowing to N5.68tn
The combined bank borrowing of oil firms operating in the downstream and upstream subsectors of the Nigerian oil and gas…
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NNPC to deliver $2.6bn gas pipeline Q1 2023
The Nigerian National Petroleum Company Limited and its contractor handling the bulk of the $2.6bn Ajaokuta-Kaduna-Kano gas pipeline project,…
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Grid collapse: FG approves N1.4bn for power transmission projects
The Federal Executive Council has approved N1.4bn for the supply of equipment for the Transmission Company of Nigeria, to…
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Nigeria’s oil production crashed by 744,000 barrels in March – OPEC
Nigeria’s crude oil production crashed by 744,000 barrels in March 2021 when compared to what the country produced in the…
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Port Harcourt refinery to produce 60,000 barrels/day early 2023 – FG
THE Minister of State for Petroleum Resources, Chief Timipre Sylva, on Tuesday, said the April 2023 completion date for…
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Russia-Ukraine war: EU imports 40% of Nigeria’s gas, demands more
European Union ambassadors on Monday said at least 40 per cent of Nigeria’s Liquefied Natural Gas was exported to…
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Russia-Ukraine war creating highly volatile oil market, says OPEC
THE ongoing war by Russia in Ukraine is making the global oil market highly volatile, the Organisation Petroleum Exporting Countries…
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National grid collapsed twice to 10MW, 33MW last week – FG report
The collapse of Nigeria’s electricity grid actually occurred twice – on Friday and Saturday last week despite concerted efforts to…
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FG targets 500MW from mini-grids, blames collapse on sabotage
The Federal Government is expecting more than 500 megawatts of electricity from interconnected mini-grids being developed by the Rural…
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NNPC seeks special courts to prosecute oil thieves, others
The Group Managing Director of the Nigerian National Petroleum Company Limited, Mele Kyari, has shown the House of Representatives’ Committee…
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Kyari mobilises NUPENG, others to tackle oil theft
THE Group Managing Director of the Nigerian National Petroleum Company Limited, Mele Kyari, has sought the support of the National…
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OPEC raises Nigeria’s oil quota amidst low production
The Organisation of Petroleum Exporting Countries on Thursday raised Nigeria’s oil production quota from the 1.735 million barrels per day…
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174 million lack access to cooking gas in Nigeria – FG
About 174 million people in Nigeria lack access to the use of Liquefied Petroleum Gas, popularly called cooking gas,…
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