OIL & GAS
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NUPENG, PENGASSAN fume over petrol price hike
• Pricing regulator remains silent, operators seek clarity As more marketers raised the pump price of Premium Motor Spirit (petrol)…
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Power generation hits peak at 5,377MW
The power sector has recorded a peak generation of 5,377 megawatts, the Transmission Company of Nigeria has said. It disclosed…
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We obeyed law on OPL 245 – Eni
Eni, a global oil giant, with operations in Nigeria, on Monday said it complied with the law on issues pertaining…
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Second NNPC ex-GMD dies within three months
The Nigerian National Petroleum Corporation on Monday announced the demise of its former Group Managing Director, Dr Joseph Dawha. Dawha…
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Nigeria’s oil projects threatened as IOCs suffer $27.8bn loss
Several major oil and gas projects in Nigeria may suffer further delays as international oil companies operating in the country…
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Seplat Suffers N49.8bn Loss Amid Oil Price Crash
One of the nation’s indigenous independent oil companies, Seplat Petroleum Development Company Plc, posted a loss of $145.3million (N49.8billion) in…
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Eko Disco Promises Customers Constant Electricity
Eko Electricity Distribution Company has assured its customers that it will fulfil its obligation of providing constant electricity to all…
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Second-Wave COVID-19 Fears Threaten Oil Demand Recovery
The recent oil price gains may be short-lived as growing fears over a resurgence in COVID-19 cases are putting the…
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High production cost: Kyari blames expatriates, local firms
Nigeria’s highest and unacceptable crude oil production cost comes from indigenous oil firms, the Group Managing Director, Nigerian National Petroleum…
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NNPC in $1.5bn oil-for-loan deal with traders
The Nigerian National Petroleum Corporation has signed a $1.5bn prepayment deal led by Standard Chartered and backed by two oil…
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Power crisis deepens, NBET fails to pay Gencos N181.39bn
The liquidity crisis in the nation’s power sector has taken a turn for the worse as payment to generation companies…
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Power consumers groan as metering scheme suffers setback
Electricity consumers in the country have expressed disappointment over the metering scheme introduced by the Federal Government last year as…
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Nigerians pay N47.6b in four months for petrol ‘subsidy’
• Govt fails to keep uniform pricing despite fund • Pressure on govt to scrap equalisation fund • Marketers kick…
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Nigeria exports $81.48bn electricity on credit as country’s blackout persists
Three neighbouring countries bought a total amount of electricity worth $81.48bn from Nigeria in the last two years, even as…
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Marketers Imported 536,000MT Of Petrol After Deregulation – PPPRA
Oil marketing companies imported 536,000 metric tonnes of petrol after the downstream sector was deregulated on March 19 this year,…
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Regional Off-Grid Power Project Will Benefit Nigeria – World Bank
The Programme Manager, Lighting Africa/Nigeria, Allwell Nwankwo, has said Nigeria will benefit from the Lighting Africa-supported Regional Off-Grid Electrification Project,…
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Payment For Nigerian Oil Block Transparent – Eni
An Italian oil major, Eni said on Wednesday that payment for the Nigerian offshore oil block, Oil Prospecting Licence 245,…
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Oil falls to $43 as US crude inventories rise
Oil prices fell on Wednesday as the United States government data showed a surprise rise in the country’s crude inventories,…
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NNPC raises August selling prices of crude oil
The Nigerian National Petroleum Corporation has increased the prices at which two of the country’s major crude oil grades would…
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NLNG Donates $150,000 Medical Equipment To Bayelsa
The Nigeria Liquefied Natural Gas (NLNG) Limited has donated medical equipment worth $150,000 to the Bayelsa State Government in order…
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