OIL & GAS

PETAN restates need for local content, lauds NLNG’s Train 7 stakeholders

The Petroleum Technology Association of Nigeria (PETAN) has commended the signing of the engineering, procurement, and construction (EPC) contract for…

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SMEs to benefit as REA moves to implement AfDB funded off-grid project

The Rural Electrification Agency (REA) has said arrangements are being concluded for the implementation of component two; ‘Productive Use Appliances…

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Despite NOCs’ budget cut, FG explores options for oil in North

Though National oil companies (NOCs) across the world are estimated to cut exploration budgets by $5 billion to around $14…

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10 power plants idle, generation sinks to 2,627MW

The number of the nation’s power plants sitting idle increased by three on Monday to 10, prompting generation to tumble…

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Petrol price may increase as Brent stabilises around $35/barrel

Brent, the oil against which Nigeria’s crude is priced, has hovered around $35 per barrel for about one week, raising…

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NNPC says top fresh management appointments based on merit

The Nigerian National Petroleum Corporation (NNPC) has said that professional competence, adherence to the principle of transparency and accountability informed…

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Less than 30% of fuel depots operating – DAPPMAN

Most fuel depot operators have been forced out of business as the Nigerian National Petroleum Company emerged the sole supplier…

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Oil, gas revenue dropped by N425.52bn in Q1 –Minister

The country’s revenue from oil and gas dropped by N425.52bn in the first quarter of 2020 to N940.91bn, Minister of…

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UK court dismisses Nigeria’s $1bn bribery suit against Shell, Eni

A court in the United Kingdom has dismissed a $1bn bribery suit instituted against oil giants – Royal Dutch Shell…

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N10tn spent on fuel subsidy in 15 years – Marketers

The Federal Government has spent about N10n subsidising petroleum products in the last 15 years, the Major Oil Marketers Association…

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Include ownership details in oil bid requirements — CSOs

Civil society organisations have asked the Federal Government to include the beneficial ownership details of bidders among the key requirements…

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Nigeria’s LNG export revenue threatened as demand plunges

The crash in demand for liquefied natural gas in Europe has posed a threat to the Federal Government’s revenue from…

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PPPRA clears marketers to import petrol

Private oil marketers have now joined the Nigerian National Petroleum Corporation in the importation of petrol. It was gathered from…

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Nigeria’s active oil rigs fall by 24% to 16

The number of active oil rigs in the country fell by 23.8 per cent to 16 in April amid the…

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Too early to rejoice as oil price hits $35

Energy experts in Nigeria are uncertain of the sustainability of current increase in the prices of crude oil, as Brent…

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Fuel pump price may rise in June as oil heads towards $40 per barrel

If the Federal Government’s pricing template is anything to go by, Nigerians may have to brace for an increase in…

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ExxonMobil donates vehicles for COVID-19

Mobil Producing Nigeria, an ExxonMobil affiliate, has said it is donating 22 additional vehicles including two ambulances and medical supplies…

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FG refineries suffer N19bn loss in two months

The refineries owned by the Federal Government recorded a total loss of N18.96bn in the first two months of this…

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