OIL & GAS
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Power grid collapses, plunges Lagos, others into darkness
The nation’s power grid suffered its first collapse this year on Wednesday, plunging parts of the country into a blackout.…
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FG subsidises electricity by N50bn monthly, says minister
The Federal Government has been subsidising electricity supply across the country to the tune of over N50bn monthly, the Minister…
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Marketers raise petrol price to N170, depots suffer shortage
Fuel marketers have started adjusting their petrol pump prices amid the supply shortage facing private depots in Apapa. Our correspondent…
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Petrol subsidy may hit N11.2bn per week
• Crude oil price rises above $63 The subsidy on Premium Motor Spirit, popularly known as petrol, may have gulped…
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Reps condemn $750m annual loss to gas flaring
The House of Representatives says Nigeria is losing about $750m to gas flaring annually. It added that the flared gas…
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Gas supply increase raised power generation by 3,358MW – NNPC
The Nigerian National Petroleum Corporation in its latest monthly operations report said the increase in gas supply to 789 million…
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Nigeria loses N189.90bn to gas flaring in 11 months
Nigeria lost an estimated N189.90bn from January to November 2020 as international oil companies and local players flared a total…
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DisCos classify customers for service delivery
• As operator disclaims redundancy at Kainji, Jebba plants Eko Electricity Distribution Company (EKEDC) has grouped its customers into five…
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Government struggles for balance in fuel pricing
• Independent marketers groan as ex-depot price hits N158/litre • Stakeholders seek value, pick holes in deregulation Caught in the…
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Reps to grill NNPC, others over N3.9bn non-remittance
The House of Representatives Committee on Public Accounts is expecting the Group Managing Director, Nigerian National Petroleum Corporation, Mr Mele…
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Cut oil production cost to survive, NNPC tells operators
The Nigerian National Petroleum Corporation has urged operators in the nation’s oil and gas industry to cut the cost of…
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How Bayelsa lost OML 46, by Sylva
The Minister of State for Petroleum Resources, Timipre Sylva, said the Federal Government revoked the licence for the Atala marginal…
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17.03 billion litres of fuel consumed in 13 months – NNPC
The Nigerian National Petroleum Corporation said on Sunday that the total sale of petroleum products for the period November 2019…
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We’ve curbed corruption in oil sector, says Buhari
The President, Major General Muhammadu Buhari (retd.), said on Thursday that his regime had achieved success in stemming corruption and…
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New petrol rule wants forex parity between NNPC, marketers
• PPPRA to resume issuance of monthly pricing guide • We’ll respond soon, NLC, NUPENG declare • NIMASA, NPA to…
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Oil price rises above $57, highest in 12 months
• ExxonMobil posts first annual loss in 40 years The international oil benchmark, Brent crude, rose more than two per…
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FG expecting PIB passage by National Assembly in April – Sylva
The Federal Government is expecting the passage of the Petroleum Industry Bill by the National Assembly in March or April,…
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Renewables can’t overtake oil in decades –OPEC
The consumption of renewable energy cannot come anywhere close to overtaking oil and gas usage in the decades ahead, the…
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Oil to retain largest share of energy mix
• As IMF projects $50/b in 2021 As the second wave of the COVID-19 pandemic continues to impact energy demand and…
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Refineries shut for 15 straight months, lose N152.08bn
The nation’s refineries lost a total of N152.08bn in 15 consecutive months of being idle, the latest data from the…
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