OIL & GAS
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We’ve not been informed of tariff hike suspension – Discos
Power distribution companies said on Monday that they had not received any directive from the Nigerian Electricity Regulatory Commission on…
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Buhari submits PIB to National Assembly, scraps NNPC, PPPRA in new bill
The President, Major General Muhammadu Buhari (retd.), has transmitted the much awaited Petroleum Industry Bill 2020 to the National Assembly…
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Oil marketers decry N320bn loss, oppose labour strike
Oil marketers on Thursday decried losing over N320bn worth of investments as a result of government imposed product prices, which,…
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80% of petrol tankers lack safety features – MOMAN
The Major Oil Marketers Association of Nigeria said on Thursday that about 80 per cent of the 10,000 petroleum tankers…
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NNPC seeks capacity upgrade for indigenous operators
The Nigerian National Petroleum Corporation has said indigenous companies operating in the nation’s oil and gas sector must upscale their…
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Nigeria, others’ production cuts’ll rebalance oil markets – EIA
The production cuts by the Organisation of the Petroleum Exporting Countries and its allies are expected to result in a…
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Fresh concern over contract secrecy in Nigeria’s oil, gas sector
The secrecy shrouding terms and conditions of contracts in Nigeria’s extractive sector has, once again raised concern for stakeholders, especially…
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Tanker owners halt strike as NNPC, DSS intervene
The Nigerian Association of Road Transport Owners has suspended the two-day warning strike which it commenced on Tuesday. It halted…
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Petrol scarcity looms as tanker drivers halt operations
Petrol scarcity may surface across the country as the Nigerian Association of Road Transport Owners on Monday ordered tanker drivers…
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FG slashes spending on JV oil assets by 62%
Amid the coronavirus-induced sharp drop in its revenues, the Federal Government reduced its spending on oil and gas assets being…
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Petrol subsidy gulped N8.94tn in 10 years, says PPPRA
The Federal Government spent N8.94tn on petrol subsidy between 2006 and 2015, figures released by the Petroleum Products Pricing Regulatory…
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Hike: Electricity consumers to pay N417.09bn in four months
Following the recent increase in electricity tariffs, the 11 distribution companies in the country are allowed to collect a total…
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Nigeria eyes $10b from local content in oil sector yearly
•Stakeholders seek expansion The Nigerian Content Development and Monitoring Board (NCDMB) yesterday said that local content in the oil and…
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Oil price rises to $40
Oil prices rose more than two per cent on Tuesday, supported by hurricane supply disruptions in the United States, but…
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Local Content Development: Chevron Invested $1.45bn In Nigeria – 2019 Report
Chevron Nigeria Limited (CNL) says it invested $1.45 billion in Nigerian Content Development (NCD) in 2019. The investment is in…
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CBN unveils solar intervention fund, fixes N500m maximum limit
The Central Bank of Nigeria has introduced a solar intervention fund that will offer obligors access to credit facility that…
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NLPGA asks members to ignore PPPRA’s administrative charge on LPG
The Nigeria LP Gas Association (NLPGA), has asked its members and operators to ignore the directive of the Petroleum Products…
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Oil falls to $39, Nigeria’s output rises
•OPEC cuts forecast for demand in 2020, 2021 The international oil benchmark, Brent crude, fell below the $40 per barrel…
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Private tank farms crippled refineries, says IPMAN
The Independent Petroleum Marketers Association has said that the collapse of Nigeria’s refineries can be traced to the birth…
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Tariff increase: Discos get 85% collection order
The Nigerian Electricity Regulatory Commission has directed power distribution companies to collect an average of about 85.84 per cent of…
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