OIL & GAS
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Six multinationals to pay N249bn oil proceeds in January – NNPC
• Company to deduct N270.83bn from FAAC same month A total of N249.3bn for October 2021 domestic crude oil sales…
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NNPC ends 2021 with global award for oil, gas reforms
The Nigerian National Petroleum Company (NNPC) Limited has ended the year on a bright note after it won an award…
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N556bn crude oil lost to vandalism, others in three months – NNPC report
Nigeria lost crude oil valued at about N556bn between August and October this year due to pipeline vandalism, community interferences,…
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Darkness looms as six power plants halt operations over gas shortage
Six power plants under the management of the Niger Delta Power Holding Company have stopped operations due to a breach…
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Lagos pipeline explosion will not disrupt supply, says NNPC
The Nigerian National Petroleum Company Ltd. has said Friday’s pipeline fire in Iyana-Odo/Baruwa axis of Lagos State will not disrupt…
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Petrol subsidy rises, hits N1.16tn in 11 months
• NNPC’s remittances to FAAC fall by N1.78tn The amount spent on subsidising Premium Motor Spirit, popularly called petrol, rose…
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Reverse power sector privatisation, electricity workers tell FG
The National Union of Electricity Employees, on Tuesday, called on the Federal Government to reverse the privatisation of the power…
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6.3 million customers still unmetered despite mass meter deployment – NERC report
NERC Chairman, Sanusi Garba The Nigerian Electricity Regulatory Commission has put the number of unmetered power users across the country…
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Nine hydropower projects to add 2,672MW to national grid – FG
The Federal Government has outlined nine completed and ongoing hydropower projects being prepared to add 2,672 megawatts of electricity to…
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Northern fuel marketers threaten strike over N50bn bridging fund
Northern Independent Petroleum Marketers Forum have threatened to withdraw their services over the failure of the Federal Government through the…
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Togo, Benin, Niger paid nothing for Nigeria’s power supply, says NERC
The Republic of Benin, Niger Republic and Togo made no payment for the electricity supplied to them from Nigeria in…
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New five-year tax holiday’ll boost gas investments – FG
The Federal Government has said the new five-year tax holiday introduced by the Petroleum Industry Act for gas pipeline investors…
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Nigeria’s oil production increases by 2.55 million barrels – OPEC
Crude oil production in Nigeria increased by about 2.55 million barrels in the month of November 2021, the Organisation of…
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$235bn investments lost over delay in Petroleum Industry Act – Sylva
The Federal Government on Tuesday said Nigeria lost an estimated $235bn worth of investments in the oil and gas sector…
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Amid Abuja fuel queues, NNPC says supply stock above two billion litres
The Nigerian National Petroleum Company Limited on Tuesday said it had enough Premium Motor Spirit, popularly called petrol, despite the…
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NNPC to halt rising cooking gas price, increases supply
The Group Managing Director of the Nigerian National Petroleum Company Limited, Mele Kyari, on Monday announced that NNPC was currently…
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Power generation drops by 1,119.6MW, sector’s growth falls by 45%
Nigeria’s power sector decreased in growth by 45 per cent in real term in the third quarter of this year…
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Oil well: Senate threatens arrest, firm sues lawmakers, demands N10bn
Halkin Exploration and Production Limited has slammed a N10bn on the Senate for daring to entertain a petition on the…
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Nigeria revenue may crash further as OPEC forecasts supply glut
Nigeria’s revenue from crude oil sale may drop further in the first and second quarters of 2022 going by the…
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FG expects new oil projects amid $42bn deals
The Federal Government has said it is bullish that many oil and gas projects will commence in the country, following…
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