OIL & GAS
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FG Begins N2.7tn Subsidy Debt Probe, Enlists Auditor General
The Federal Government has begun the proposed audit of the N2.7tn fuel subsidy claim by the Nigerian National Petroleum…
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5kg Cooking Gas Sold At N7,418 In May – NBS
The National Bureau of Statistics has said the average price of 5kg cooking gas increased from N6,521.58 recorded in April…
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Petrol Price Rose To 223%, Sold At ₦770 Per Litre In May – NBS
The average price of Premium Motor Spirit (PMS), also known as petrol, rose by 223.21 per cent to approximately ₦770…
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NNPC Withdraws Suit Against ExxonMobil, Seplat $1.28bn Deal
The Nigerian National Petroleum Company Limited has applied to a High Court of the Federal Capital Territory, Abuja, to stop…
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Post-Subsidy PMS Import Costs Rise By 31% –Report
Nigeria’s cost of petrol importation has continued to rise despite an almost 50 per cent drop in the nation’s consumption…
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Marketers Register With Dangote Refinery Ahead Of Loading
As Nigerians expect premium motor spirit from the Dangote Petrochemical Refinery this month, petroleum marketers have started registering with the…
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Cooking Gas Export Ban Crashed Domestic Price – Marketers
The Federal Government’s ban on the export of Liquefied Petroleum Gas, popularly called cooking gas, has led to a crash…
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Petroleum Minister Inaugurates Delta Gas Facility
In a bid to reduce the rate of gas flaring in the Niger Delta region, the Minister of State for…
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Crude Supply Shortage: Foreign Investors May Dump 20 Modular Refineries
International financiers that are meant to fund the construction of about 20 modular refineries in Nigeria have withheld their…
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Dangote Refinery Eyes 500,000 Barrel Production Capacity July
Barring any last-minute change in plan, the $20bn Dangote Oil Refinery would be listed on the Nigerian Stock Exchange by…
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IOCs To Invest $20bn In Nigeria –FG
The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, on Monday, announced that about $16.6bn investments had been…
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Electricity Subsidy Gulps N629bn As Discos Generate N1.1tn
The Federal Government spent N628.61bn as subsidy on electricity in 2023, as power distribution companies collected a total revenue of…
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Oil Production Nears 1.7mbpd – NNPC
From 1.28 million barrels per day in April, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited,…
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Marketers Ordered To Open Pumps For CNG Vehicles
The Federal Government has concluded plans to ensure marketers open Compressed Natural Gas Pumps in filling stations across the country.…
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NUPRC Begins Bidding Round For 12 Oil Blocks
The Nigerian Upstream Petroleum Regulatory Commission has announced the commencement of the bidding process for 12 oil blocks recently…
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Stop Electricity Subsidy, IMF Tells FG
The International Monetary Fund has warned the Nigerian government to remove what it called implicit fuel and electricity subsidies.…
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Different Electricity Laws In States Will Affect Power Sector – PwC
PwC Nigeria has stated that the provision of the Electricity Act that allows states to have independent electricity laws would…
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Labour Urges NERC, Discos To Collapse Bands
The Nigeria Labour Congress and Trade Union Congress have urged the Nigerian Electricity Regulatory Commission and electricity distribution companies to…
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FG To Sanction Marketers Diverting Fuel As Queues Subside
As fuel queues subside across filling stations, the Federal Government says it will sanction marketers hoarding and diverting Premium Motor…
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Shell Paid Over $1bn Tax To FG In 2023
Shell Nigeria says it exclusively paid a total of $1.09bn in corporate taxes and royalties to the Nigerian government in…
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