OIL & GAS
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Discos to pay for rejecting electricity – NERC
The Nigerian Electricity Regulatory Commission has said the power distribution companies will be liable to capacity charge for failure to…
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Pipeline repairs cost NNPC N41.98bn in six months
The Nigerian National Petroleum Corporation has said it spent a total of N41.98bn on pipeline repairs and management cost in…
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Malabu: FG asks Shell, Eni to pay $1.92bn damages
The Federal Government asked a Milan court on Wednesday to order Eni and Royal Dutch Shell to pay $1.09bn as…
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Niger exports fuel to Nigeria as Egypt, Algeria build 13 refineries
• ‘Retool Port Harcourt refinery, stop petrol imports now’ • Dirty fuel may frustrate SDGs in Africa, ARA warns Neighbouring…
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Oil marketers now free to fix prices, says PPPRA
The Federal Government is no more going to be releasing guiding price bands for the sale of petrol at filling…
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Why we chose Siemens for 25,000MW grid expansion – FG
The Federal Government on Monday said the German firm, Siemens AG, was chosen to expand Nigeria’s power grid because the…
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Knocks for FG over petrol price, electricity tariff hike
The Federal Government on Sunday came under more criticism for the increase in electricity tariff and petrol pump price last…
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NNPC obtains $1bn to fund upstream operations
The Nigerian National Petroleum Corporation on Thursday night announced that it had obtained a prepayment funding of about $1bn to…
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Oil servicing firms may go bankrupt, says report
With the crude oil market likely to remain depressed for the rest of 2020, some oil servicing companies in Nigeria…
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Local Content: NNPC Invites Tenders To Lift Nigerian Crude Oil
By Kenneth Jukpor In a bid to encourage indigenous participation in crude affreightment, the Nigerian National Petroleum Corporation (NNPC) has…
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Reps minority caucus rejects fuel pump price increase
The minority caucus in the House of Representatives has condemned the increase in the pump price of Premium Motor Spirit…
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NNPC group life assurance scheme records strong performance
• Achieves over N25billion premiums, N23.89 claims in 10 years As firms continue to fine-tune ways of protecting their workers…
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BUA picks France’s Axens for 200,000bpd refinery project
BUA Group Plc has selected France’s Axens for a multibillion-dollar 200,000 barrel per day refinery and petrochemicals plant in Nigeria,…
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Petrol price should be about N155/litre – Marketers
The pump price of petrol should be closer to N155 per litre, the Chairman of the Major Oil Marketers Association…
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NLC, MAN, others kick against electricity tariff hike
• Labour vows to resist, warns NERC against playing the ostrich •Hike can contract economy in Q3 & 4 –…
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IOC taxes plunge by N16.46bn amid production cuts
The tax revenue accruing to the Federal Government from Production Sharing Contracts with international oil companies operating in the country…
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Oil marketers deny NNPC on N5.35bn petrol subsidy payment
Oil marketers on Monday expressed surprise over the resurfacing of petrol subsidy in June 2020 as disclosed by the Nigerian…
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We spent N5.3bn on petrol subsidy in June – NNPC
Latest figures from the Nigerian National Petroleum Corporation have shown that the oil firm made an under-recovery of N5.348bn in…
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FG begins restructuring of power ministry
The Federal Government on Thursday commenced moves towards the restructuring of the Federal Ministry of Power. It said the initiative…
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Refineries idle for 12 months, incur N142bn expenses
The nation’s refineries did not refine a barrel of crude oil in the 12 months to June this year but…
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