OIL & GAS

…Gas demand may hit 12.2 BCF/d by 2030s, NUPRC projectsThe Nigeria National Petroleum Company Limited (NNPCL) said currency volatility remains a major obstacle to investment, stressing that exchange rate fluctuation casts uncertainty over potential returns. Speaking at the ongoing 41st …

The Federal Government through the Niger Delta Power Holding Company has signed a Power Purchase Agreement with utility companies to distribute a total of about 250MW across the country. A document obtained from NDPHC by media source said the power sale transactions …

The oil and gas sector in the country failed to attract any foreign investment for the first time in Q2 2021, amid the global push for cleaner energy, according to the National Bureau of Statistics. The NBS in its ‘Nigeria …

President Bola Tinubu recently stopped the implementation of a hike in electricity tariff and insisted that subsidy be paid on power consumed nationwide, the Minister of Power, Adebayo Adelabu, revealed on Wednesday. Adelabu also stated that the Federal Government would …

The Federal Government, on Tuesday, solicited the cooperation of private sector investors in deepening the utilisation of Liquefied Petroleum Gas in Nigeria. Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, made the call at a gas conference in Abuja, where …

House of Representative House of Representatives has vowed to ensure the recovery ofover 100 billion dollars unremitted oil revenue by oil companies to federal government, as well as probe the abuse in the handling of fuel subsidy regime The Chairman, …

The Chairman designate of the Niger Delta Development Commission, NDDC, Mr. Chiedu Ebie, has urged Niger Delta stakeholders to forge stronger bonds and collaborate to pave way for a brighter future for the oil-rich region. Speaking during a reception in …

Dangote Refinery Company The Dangote Oil Refinery Company has reportedly secured about 200,000 barrels per day crude oil, about six ship loads from Nigeria National Petroleum Corporation NNPC Ltd , for the test run of it’s 650,000 barrels per day …

• Lack of supply to Dangote shameful, says FG, minister blames low production The failure to supply crude oil to domestic refineries, including the multi-billion dollar Dangote Refinery, has stalled the production of refined petroleum products at the facilities. This …

Executive Secretary/CEO of Nigeria Extractive Industries Transparency Initiative (NEITI), Ogbonnaya Orji, has said Nigeria lost over N16.25 trillion due to oil theft in the country. Orji in a report to the report to the Chairman, House Committee on Public Accounts, …

Nigeria’s wobbling oil production could get better if moves by oil operators, especially in the upstream segment, in collaboration with the National Assembly, yield results. The ground for this optimism was a gathering in Abuja, yesterday, by the leadership of …

A Power Transmission System President Bola Tinubu, on Monday, said Nigeria’s power sector privatisation had failed to meet its objectives, as the national grid was serving only about 15 per cent of the country’s electricity demand despite being privatised 10 …

The Federal Government in collaboration with other members of Economic Community of West African States are planning to set up the Africa Energy Bank to cater to crude oil exploration activities in the region. Outgoing President, the Nigerian Association of …

Human rights lawyer and a Senior Advocate of Nigeria (SAN), Femi Falana, has called on Minister of Finance, Olawale Edun, to direct Nigerian National Petroleum Company Limited (NNPCL) to remit $34.2 billion to the federation account, being money received on …

• Seeks commercialisation of Port Harcourt, Warri, Kaduna plants • Defends purchase of 107 Toyota Landcruisers for members at N160m each The wasteful management of Nigeria’s refineries, especially the N11.35 trillion Turn Around Maintenance (TAM) cost and another N1.6 trillion loss …

Ekperikpe Ekpo, Minister of State Petroleum Resources Minister of State Petroleum Resources, Ekperikpe Ekpo, has charged contractors handling the 614-kilometer Ajaokuta, Kaduna, Kano gas pipelines project not to default on the promised July/August 2024 completion deadline. Spokesperson for the Minister, …

Operators of modular refineries in Nigeria, on Wednesday, called on the Federal Government to remove many fees attached to locally refined Automotive Gas Oil, popularly called diesel, in order to help reduce the ballooning cost of the commodity. Diesel prices …

NUPRC’s Chief Executive, Gbenga Komolafe Nigeria’s crude oil output rose to an all-time high of 1.35 million barrels per day in September 2023, as the country pumped its highest volume of crude oil so far since this year. Latest figures …

The Nigerian National Petroleum Company Limited, on Monday, said four consortia would finance the rehabilitation of pipelines across the country based on build, operate and transfer terms. Marketers have repeatedly complained about the dormancy of about 20 NNPCL depots, as …

NNPC’s GMD, Mele Kyari The Federal Government, on Monday, denied reintroducing the subsidy on Premium Motor Spirit, popularly called petrol, amid the closure of many filling stations nationwide due to various challenges in the downstream oil sector. It also said …