OIL & GAS
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Russia-Ukraine war: Oil hits $114, OPEC laments seven million bpd loss
Brent, the crude against which Nigeria’s oil is priced, moved up in price to $114/barrel as at 4.34pm Nigerian time…
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Subsidiaries summons: NNPC has nothing to hide, Kyari tells lawmakers
Group Managing Director of NNPC, Mele Kyari The Group Managing Director of the Nigerian National Petroleum Company Limited, Mele Kyari,…
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Reps threatens heads of NNPC subsidiaries with arrest over non-appearance
• Accuses Kyari of shielding officials, GMD insists the company hiding nothing The House of Representatives Committee on Public Accounts, yesterday,…
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116.46 million litres fuel lost in 2021, say NNPC reports
A total of 116.46 million litres of Premium Motor Spirit, popularly called petrol, valued at N18.88bn was stolen in…
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Brent rises to $115 as EU considers Russia oil ban
Brent crude, the global oil benchmark, appreciated in price on Monday, moving up by 7.3 per cent or $7.88 to…
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Subsidy: FAAC meets today as NNPC deductions threaten states’ allocations
The planned deduction of N242.53bn fuel subsidy from the Federation Account this month by the Nigerian National Petroleum Company…
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Reps write Kyari, summon 17 NNPC subsidiaries over audit queries
THE House of Representatives’ Committee on Public Accounts has written to the Group Managing Director of the defunct Nigerian National…
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Fuel scarcity: We’ll deal with depot owners selling beyond approved price – FG
The Federal Government says it will deal decisively and sanction any Depot Owner caught selling petroleum products beyond the…
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National Assembly proposing criminalising illegal connection, metre by-bass – NERC
THE National Electricity Regulatory Commission has urged consumers to know their rights and obligations within the sector, noting that it…
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Power grid collapses again, stakeholders’ meeting enters second day
NIGERIA’s electricity grid collapsed around 5pm on Tuesday, which was less barely 48 hours after it collapsed on Monday, a…
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Blackout as national grid collapses, minister summons emergency meeting
Power generation on the national grid collapsed to zero megawatts around 10.40am on Monday, leading to widespread blackout across the…
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NNPC fails to account for 107 million barrels of crude, says Auditor-General
The Office of the Auditor-General for the Federation has said the defunct Nigerian National Petroleum Corporation, now Nigerian National Petroleum…
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Manufacturers lament as diesel hits N720 per litre
The Manufacturers Association of Nigeria has sought urgent intervention from the Federal Government to support the production of goods as…
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Gencos disagree with TCN over outages, blame weak transmission
Power generation companies on Sunday said the recent incessant blackouts across the country were because the weak infrastructure of transmission…
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How illegal refineries’ closure worsened diesel scarcity –Marketers
• Declare state of emergency on refineries, IPMAN tells Buhari The recent massive clampdown and destruction of illegal refineries also contributed…
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NNPC headquarters, refineries’ post N123.64bn deficit in nine months – Report
The latest monthly oil and gas report of the Nigerian National Petroleum Company Limited has revealed that the combined deficit of…
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FG seeks US funding for gas supply to Europe amid Russia boycott
The Federal Government on Thursday called on the United States Government to support Nigeria with funds to develop Nigeria’s…
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Diesel becoming unaffordable for transporting petrol using tankers – NARTO
The National Association of Road Transport Owners on Thursday raised the alarm that the cost of diesel was becoming unaffordable…
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IOCs’ exit stalls Nigeria’s ability to meet OPEC quota – FG
Minister of State for Petroleum, Timipre Sylva The Federal Government on Wednesday said its inability to meet the oil production…
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TCN blames low generation for nationwide incessant outages
THE Transmission Company of Nigeria says the current load shedding being experienced nationwide is as a result of very low…
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