OIL & GAS
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Senate queries NBET’s N50bn escrow account
The Senate Public Account Committee has asked the Nigeria Bulk Electricity Trading Plc to explain how it managed the N50bn…
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DPR warns against black market, sharp practices in LPG
The Department of Petroleum Resources has warned those who indulge in illegal sale of Liquefied Petroleum Gas and other sharp…
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TCN faults N1.5tn intervention in power sector
The about N1.5tn intervention of the Federal Government in the power sector is not reflecting in the current performance of…
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Nigeria’s Gas Consumption Rises Over 1million Metric Tonnes – PPPRA
The Petroleum Products Pricing Regulatory Agency (PPPRA) announced yesterday that the country’s domestic consumption of Liquefied Petroleum Gas (LPG) has…
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Nigeria overtakes US as India’s fourth biggest oil supplier
Nigeria emerged as the fourth biggest supplier of crude oil to India in December, pushing the United States down to…
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Oil rises to $56 on US stimulus prospects
Oil rises to $56 on US stimulus prospectsOil prices rose for a second consecutive day on Wednesday, as the market…
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Cooking gas price rises by 29% in two months
The price of 20 metric tonnes of Liquefied Petroleum Gas, popularly known as cooking gas, sold to marketers in the…
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Nigeria seeks sustainable oil, gas sector with NOGEC
A new infrastructure; National Oil and Gas Excellence Centre (NOGEC), built by the Department of Petroleum Resources (DPR), aims to…
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Nigeria’s nine-month oil export earnings fall by $1.24bn
The total revenue generated by Nigeria from crude oil and gas exports from January to September 2020 tumbled by $1.24bn,…
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First cargo of Nigeria’s new crude, Anyala, set for Europe
The first export cargo of Nigeria’s newest crude grade Anyala is on its way to Northwest Europe, trading and shipping…
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Senate kicks as petroleum ministry spends N98.4m on flyers
The Senate Public Account Committee has described as unacceptable the payment of N98.4m by the Petroleum Resources Ministry for the…
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NNPC sells $120.49m volume of oil, gas as trading surplus dips
The Nigerian National Petroleum Corporation (NNPC), yesterday, said the country exported $120.49 million worth of crude oil and gas in…
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96 firms bid to rehabilitate NNPC pipelines, terminals
About 96 companies from various jurisdictions have indicated interest in undertaking the rehabilitation of the Nigerian National Petroleum Corporation’s downstream…
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Nigeria’s daily oil production sinks to 1.17 million barrels
Crude oil production in Nigeria tumbled by 155,000 barrels to a record low in December amid the production cuts by…
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NNPC cautiously hopeful about oil demand recovery, deepens gas devt
The Nigerian National Petroleum Corporation (NNPC) has expressed cautious optimism about oil demand growth, adding that it had begun the…
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Egbin, Shiroro power plants’ output hit record high
Electricity generation from the nation’s largest power station, Egbin, and one of the hydropower plants, Shiroro, surged to record highs…
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Oil rises above $56 on tight supply expectations
The international oil benchmark, Brent crude, rose above $56 per barrel on Tuesday, buoyed by Saudi Arabia’s plans to limit…
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Oil nears $56, FG may reintroduce fuel subsidy
The sustained increase in global crude oil prices has pushed up the landing cost of imported petrol closer to the…
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Late PIB passage threatens N4tr marginal fields earnings
• FG looks to bid round to increase reserves • Host communities insist on right of refusal The Federal Government’s…
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Oil revenue gets boost as price hits $55
The international oil benchmark, Brent crude, extended its gains on Friday, rising above $55 per barrel, in what is a…
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