OIL & GAS
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P&ID $9.6bn Fine: Nigeria Seeks More Time In UK Court
The Nigerian government has asked a London court to give the country more time to appeal the $9.6 billion arbitration…
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NLNG Denies Alleged $1.05bn Illegal Withdrawal
The Nigeria LNG Limited has described as untrue the allegation that its Managing Director/Chief Executive Officer, Tony Attah, and the…
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COVID-19 keeps exploration, production at record low
• Offshore service vessels witness 40% cost cuts Impacts of the COVID-19 pandemic may keep exploration and production (E&P) activities…
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Nine power plants shut down, 2,079MW capacity stranded
Nine of the nation’s 27 power plants were idle on Thursday, leaving a total generation capacity of 2,079.1 megawatts stranded.…
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NNPC’s losses increase by 200%, hit N30.8bn
The Nigerian National Petroleum Corporation lost N30.81bn in April 2020, representing over 200 per cent increase in its operating deficit,…
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Senate, NDDC in fresh row over alleged missing N143 billion
There is fresh crisis between the National Assembly and the Niger Delta Development Commission (NDDC) due to its failure to…
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OPEC adjusts oil demand to 8.9 million bpd
• As uncertainty cloud extension of production cuts The Organization of the Petroleum Exporting Countries (OPEC), yesterday, revised downward its…
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Second wave of pandemic poses risks to oil rebound
As countries brace for a second wave of the coronavirus spread, analysts have warned that an unexpected hit to demand…
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Petrol subsidy gulped N101.6bn in three months – NNPC
Petrol subsidy consumed over N101bn in the first three months of this year, as stakeholders want the scheme to be…
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FG orders power projects contractors back to sites
The Federal Government has ordered all contractors handling power projects across the country to return back to their various sites…
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NNPC increases gas supply as pipeline vandalism rises
The Nigerian National Petroleum Corporation on Thursday announced an increase of 19.14 per cent in the average daily natural gas…
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No going back on petrol subsidy removal – FG
The Minister of State for Petroleum Resources, Timipre Sylva, said on Thursday that the Federal Government had reached a conclusion…
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Seven killed in explosion on NPDC oil platform
An explosion on Oil Mining Lease 40 operated by the Nigerian Petroleum Development Company has killed seven workers, the Nigerian…
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Nigeria strategizes to regulate bid rounds as 600 firms jostle for 57 marginal fields
• Sets 24 months target for oil delivery after bids The Federal Government, yesterday, said about 600 companies have applied…
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IPMAN threatens strike over petrol price increase
The Independent Petroleum Marketers Association of Nigeria, South-West, has threatened to stop lifting of petroleum products over the hike in…
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Discos get tariff guidelines for additional power distribution
The Nigerian Electricity Regulatory Commission has outlined guidelines which power distributors must adhere to when purchasing additional generation capacity that…
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FG appoints, redeploys NNPC top management staff
The Federal Government has carried out some changes in the top management of the Nigerian National Petroleum Corporation. It made…
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Petrol price: NLC demands reversal, NECA backs govt
The Nigeria Labour Congress has kicked against the new fuel price of N143.8 announced by the Petroleum Products Price Regulatory…
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NUPENG gives FG two-week ultimatum over bad roads
The Nigeria Union of Petroleum and Natural Gas Workers has given the Federal Government a two-week ultimatum to rehabilitate the…
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OPEC oil production hits 20-year low amid cuts
The Organisation of Petroleum Exporting Countries saw its oil output hit the lowest in two decades in June as Saudi…
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