OIL & GAS
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DisCos face imminent collapse, wallow in debt
• No DisCo declared dividend eight years after privatisation • Buying electricity assets with loans, misplaced priority, say experts• Banks may run…
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NNPC to deduct N127bn from FAAC, plans $5bn AfrieximBank loan
The Group Managing Director of the Nigerian National Petroleum Company Limited, Mele Kyari, on Thursday announced that the NNPC was…
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33 successful bidders lose FG’s marginal oil-field awards
Govt rakes in N174bn as other awardees make full, part payments A total of 128 awardees that emerged as successful…
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Marginal fields: FG outlines conditions to awardees, IOCs Thursday
The Federal Government will on Thursday outline its policy position for the marginal field bid round to eligible awardees who…
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Subsidy: NNPC may deduct over N1tn from FAAC in six months
…as FG plans PIA amendment, extends subsidy removal by 18 months The Nigerian National Petroleum Company Limited may deduct over…
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‘OPEC+ can’t solve oil market challenges amid scarce investments’
The Organization of the Petroleum Exporting Countries and its allies can’t solve current oil market challenges alone because the world…
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Cooking gas demand surges over NLNG’s 100% domestic supply
There is currently a surge in the demand for Liquefied Petroleum Gas, popularly called cooking gas, leading to marginal price…
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FG to establish 18 modular refineries in oil-producing states
The Federal Government on Wednesday said it was working to establish three modular refineries in each of the oil producing…
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Buhari didn’t direct anyone to remove petrol subsidy – Lawan
The Senate President, Ahmad Lawan, says the President, Major General Muhammadu Buhari (retd.), has not asked any official in his…
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Labour lists conditions for fuel subsidy removal, says $9.5bn wasted on refineries
Key labour unions in Nigeria met on Tuesday in Abuja where they outlined the conditions the Federal Government must meet…
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Fuel subsidy crisis: States kick as NNPC continues deductions, FAAC meets Wed
• States, Federal Govt may clash There are strong indications that state and federal governments are again on a…
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NLNG suspends cooking gas export, channels 100% to domestic market
The Nigeria LNG Limited announced on Thursday that its board of directors had approved the supply of 100 per cent…
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Oil price surges above $85 amid Omicron impact
The international oil benchmark, Brent crude, climbed above $84 per barrel on Wednesday on tight supply and easing concerns about…
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Power generation drops as vandals ground 504MW plant
The Niger Delta Power Holding Company on Monday announced the shutdown of its 504 megawatts Alaoji Power Plant following the…
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Senate probes N14.7bn PHCN privatisation fund in secret accounts
The Senate Committee on Public Accounts has begun investigation of N14.7bn proceeds of privatisation of the defunct Power Holding Company…
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Vehicles in 12 states’ll run on autogas this year – FG
The Federal Government has selected 12 states for the pilot phase of the conversation of vehicles using petrol and diesel to…
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Cooking gas price drops, supply rises, govt projects further decrease
The Federal Government on Thursday said it was putting measures in place to ensure further reduction in the cost of…
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Okadigbo’s widow leads NNPC board, Buhari drops Ararume
The President, Major General Muhammadu Buhari (retd.), has appointed the board and management of the Nigerian National Petroleum Company Limited.…
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Nigeria’s crude oil earnings hit N12.4tn in 11 months – Report
Nigeria produced a total of 440.774 million barrels of crude oil valued at about N12.4tn between January and November 2021,…
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FG owes five IOCs $1.15bn cash call arrears, clears $3.53bn debt
A total of $3.53bn has been paid by the Federal Government to five international oil companies as cash call arrears…
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