OIL & GAS
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Again, power minister sacks NBET boss, names replacement
The Federal Government has again sacked Marilyn Amobi from office as the Managing Director of the Nigerian Bulk Electricity Trading…
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Stakeholders laud NNPC’s transparency, N1.01tr profits from NAPIMS
• Insist on overhaul amid N154 billion losses in refineries In its first-ever audited report, the Nigerian National Petroleum Corporation…
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‘Oil-producing states got N44tn in 18 years’
A total of N44tn accrued to states in the Niger Delta region through the 13 per cent derivation fund in…
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Nigeria exported N32bn worth of electricity in 2019 — NERC
The Republics of Togo, Niger and Benin received a total invoice of N32.04bn for the electricity supplied to them from…
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Nigeria has highest personnel cost in global petroleum industry
…Why high cost of oil production may persist …IOCs, industry players bemoan insecurity, multiple taxes Stakeholders have raised concerns over…
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Gencos oppose reversing privatisation, allege N1tn debt
Electricity generation companies on Sunday kicked against calls by the Senate for a reversal of the privatisation of the power…
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Marketers can’t fix petrol price, says FG
The Federal Government has said oil marketers are not free to fix the price of Premium Motor Spirit, popularly called…
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Govt urged to raise flaring penalties
The Federal Government has been told to raise gas flaring penalties to serve as disincentive to international oil companies. The…
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Oil hits $40, Nigeria cuts production by 216,000bpd
Global oil commodities gained in prices on Wednesday as Brent crude, the benchmark against which Nigeria’s crude is priced, rose…
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NNPC launches App for COVID-19 contacts tracing, begins sale of products online
NCDMB moves to resolve NLNG’s N970m dispute with Macobarb The Nigerian National Petroleum Corporation (NNPC) yesterday unveiled a technology application…
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Govt invites investors to bid for 57 oil fields
The Federal Government, through the Department of Petroleum Resources, has put on offer 57 marginal fields for licensing as part…
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Marketers groan as FG cuts petrol price to N121.50
• IPMAN asks for time to finish old stock Fuel marketers have expressed concerns over the further reduction by the…
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Government moves for $10 oil production cost
Loses 2.9 million barrels in two months Though Nigeria’s cost of oil production is currently above $20 per barrel, the…
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Price crash: NNPC targets $10 oil production cost
The Nigerian National Petroleum Corporation has said it is looking to drive down the cost of producing a barrel of…
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Power distributors sue FG over business interference
Electricity distribution companies have dragged the Federal Government to court to restrain it from further interfering in the corporate business…
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Petrol marketers to gain N8.3bn on depot price reduction
Retail marketers of petrol are currently raking in billions of naira as findings on Wednesday showed that they would make…
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Oil crash threatens Nigeria’s gas flaring reduction
The oil price crash brought on by the coronavirus pandemic looks set to put a damper on gas flaring reduction…
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Nasarawa to complete abandoned N5.4bn power plant
The Nasarawa State Governor, Abdullahi Sule, has said his administration will complete the ex-Governor Abdullahi Adamu’s abandoned N5.4bn Farin-Ruwa Independent…
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NNPC increases June selling prices of crude oil
The Nigerian National Petroleum Corporation has increased prices at which the country’s crude oil grades will be sold next month.…
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Allow market forces determine petrol pump price, NNRC tells Federal Government
The Nigeria Natural Resource Charter (NNRC) has urged President Muhammadu Buhari to allow market forces determine prices of petroleum resources…
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