OIL & GAS

The Nigerian National Petroleum Company Limited has held talks with a South Korean consortium led by Daewoo E & C on the development of gas projects in Nigeria. NNPCL said in a statement issued in Abuja on Tuesday that the …

Minister of State for Petroleum, Ekperipke Ekpo The Minister of State for Petroleum Resources (Gas), Mr Ekperikpe Ekpo, has assured of uninterrupted supply to the Nigeria-Morocco gas pipeline project. According to a statement by the minister’s spokesman, Louis Ibah, on …

The Nigerian National Petroleum Company Limited remitted literally zero funds to the Federation Account in 2022 due to the payment of subsidy on Premium Motor Spirit, popularly called petrol, the Chief Financial Officer, NNPCL, Umar Ajiya, has said. NNPCL is …

Refined petroleum products from the $20bn Dangote Petroleum Refinery are to be sold in naira and not in the United States dollar as speculated in some quarters, oil marketers clarified on Monday. Dealers in the downstream oil sector also stated …

Oil giant ExxonMobil has sued climate activist investors in a bid to prevent their climate proposal from going to a vote at its annual investor meeting. The complaint is against Follow This and Arjuna Capital, which have called on Exxon …

Nigeria’s crude oil production rose to 1.418mbpd in December 2023, a report by the Organisation of the Petroleum Exporting Countries has said. OPEC, in its Monthly Oil Market Report for January 2024, said Nigeria’s crude oil production increased by 100mb/d, …

Mele Kyari, GCEO, NNPCL The Nigerian National Petroleum Company Limited, on Wednesday, said a total of 10,166 illegal refineries and crude oil connections were destroyed in Nigeria since 2021. It specifically stated that over 5,686 illegal refinery sites were destroyed, …

Eterna PLC, an integrated energy provider in Nigeria, said it has become an official domestic sales distributor of the new Dangote Petroleum Refinery products in Nigeria. Media reports that the Dangote refinery started the production of diesel and aviation fuel on …

A Power Transmission System The Nigerian Electricity Regulatory Commission, on Wednesday, released the 2024 electricity tariffs which showed that the Federal Government is to shoulder about N1.6tn subsidy this year to avert electricity tariff hike. In the tariff review applications …

Investors in the Dangote Group shares on Tuesday gained N514bn following an announcement that the Dangote Refinery had commenced production. Investors have rushed to Nigerian Exchange Limited to purchase stocks by Dangote Group, an entity that is sensitive to information. …

As the Port Harcourt oil Refinery comes to life, the Nigerian National Petroleum Company Limited has concluded plans to hand over the government refinery to private operators. The NNPCL said it was seeking to engage reputable and credible operations and …

The Federal Government through the Nigerian Electricity Regulatory Commission has issued 13 new licences for the generation of off-grid and embedded power, independent electricity distribution, as well as for the trading of electricity. It said the new licences were issued …

The seven major oil marketers in Nigeria have registered with the Dangote Petroleum Refinery for the lifting and distribution of refined petroleum products produced by the $20bn plant. Dealers under the aegis of the Major Oil Marketers Association of Nigeria …

A new report has revealed vast differences in gasoline costs across the world, with Nigeria ranked 22nd in the cheapest petrol price category globally. The report titled ‘Global Petrol Prices, Octane-95, January 1, 2024’, as posted on their website, also revealed some countries …

The Nigerian Electricity Regulatory Commission has expressed concern over the electricity load rejection by power distribution companies despite the blackout witnessed in many parts of Nigeria. It threatened to enforce appropriate regulatory actions against Discos that fail to meet the key …

The Organisation of the Petroleum Exporting Countries said the Nigeria’s economic growth in the third quarter of 2023 “exceeded expectations”. OPEC, in its Monthly Oil Market Report, attributed the growth to strong activity in the non-oil sectors, especially in services …

Port Harcourt Refinery The Nigerian National Petroleum Corporation Limited has revealed that test runs at the 60,000-bpd Port Harcourt refinery will be completed this month. “Testing will conclude shortly, ensuring the refinery’s efficient operation. That phase will be completed this …

Seplat Energy PLC, an independent energy company in Nigeria, has announced the completion of its ANOH gas plant. Seplat Energy, in a release on Wednesday, disclosed that the ANOH gas plant installation works reached mechanical completion December 29, 2023, in …

The  Project Director and CEO of the Presidential Compressed Natural Gas Initiative, Michael Oluwagbemi, has revealed that the Federal Government plans to create 750,000 jobs by 2027 through the gas initiative. He revealed this at the PCNGi’s first stakeholders and …

The Nigerian National Petroleum Company Limited and fuel marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria, on Tuesday, clashed again over the removal of subsidy on petrol. This came against the backdrop of the depreciation of …