FG spent N9tr in oil subsidy in 10yrs – PPPRA
Petroleum Products Pricing Regulatory Agency PPPRA has disclosed that the Federal Government has spent a total of N8.94 trillion on oil subsidy between 2006 and 2015. This was disclosed in a document on subsidy payment released in Abuja on…
Energy Industry Congratulates Mozambican President, Backs Africa Oil & Power Capacity Building…
The African Energy Chamber (AEC) has commemorated with the President of the Republic of Mozambique, His Excellency Filipe Jacinto Nyusi, on his acceptance of Africa Oil & Power’s ‘Person of the Year’ award for 2020.
The award will…
IWD 2021: WIEN, REAN to Co-Host International Women in Energy Symposium
In recognition of the need to support strategies that will promote and enable equal participation of women in the energy value chain, the Women in Energy Network (WIEN) in partnership with the Renewable Energy Association of Nigeria (REAN)…
FG States Condition for Relocation of Oil Companies to Niger Delta
The call for the relocation of oil companies to the Niger Delta area would not be possible in absence of peace and security in the region, the Minister of State for Petroleum Resources, Timipre Sylva, has said.
According to Sylva,…
FG Targets 35,000 Jobs as NCDMB, NNPC Stake US$670m in Brass Methanol Plant
The Nigerian Content Development and Monitoring Board (NCDMB), the Nigerian National Petroleum Corporation (NNPC) and DSV Engineering on Friday signed the Final Investment Decision (FID) for the construction of 10,000 tonnes/day methanol…
President Buhari Restates Commitment to N/Delta Development
…Says security is pre-condition for oil firms to return
The administration of President Muhammadu Buhari is very committed to the development of Bayelsa State and other states of the Niger Delta, the Minister of State for…
Mediterranean Gas & Energy Weeks: Governments Showcase Business Opportunities
The Mediterranean Gas & Energy Week, the industry’s biggest online event in the region, concluded its three day of sessions with 60 expert speakers presenting the latest opportunities in the region to over 2,000 senior executives from…
National Assembly to Pass PIB into Law in April – FG Says
The Minister of State for Petroleum Resources, Chief Timipre Sylva, on Thursday said that the Federal Government is expecting the passage of the Petroleum Industry Bill by the National Assembly in March or April.
Sylva said this on the…
Petrol Tops Nigeria’s White Products Sales, Generates N1.9trn in 13 Months
The Nigerian National Petroleum Corporation (NNPC) has said that its downstream subsidiary, the Petroleum Products Marketing Company, recorded a total of ₦1.95tn from the sale of white products for the period October 2019 to October 2020.
…
What ‘Government Agency of the Year 2020’ Award Means to NNPC –Kyari
The New Telegraph Newspapers on Tuesday in Lagos conferred Nigerian National Petroleum Corporation (NNPC) with the award of ‘Government Agency of the Year 2020’.
The Group Managing Director, Nigerian National Petroleum Corporation…
FG Announces New Date for 2021 NIPS
The 2021 edition of the Nigerian International Petroleum Summit (NIPS) has been postponed to June 6, 2021 instead of the earlier dates of March 28 to April 1, 2021.
The Minister of State for Petroleum Resources, Chief Timipre Sylva, who…
Electricity Grid Collapses 27 Times in Three Years
The nation’s power grid collapsed 27 times in the last three years, the latest data from the Nigerian Electricity System Operator have shown.
The number of times the national grid suffered a collapse fell to four in 2020 from 10 in 2019…
Nigeria’s Power Sector Lose N20.5bn Loss to Load Rejection
Owing to the lingering load rejection by the electricity distributors, Nigeria’s power sector has suffered about N20.5bn revenue loss between January 1 and 22, 2021.
According to the data made available by the Federal Ministry of Power…
Senate to Probe Alleged Mismanagement of N50bn by NBET
The Senate committee on Public Accounts said it is set to probe the alleged mismanagement of N50 billion realised from the sale of Egbin, Omotosho and Olorunsogo power plants in 2013 by the Nigeria Bulk Electricity Trading Plc (NBET).
…
Impact of FG’s N1.5tn Intervention in Power Sector Yet Elusive – TCN
The Transmission Company of Nigeria has said that the impact of about N1.5tn intervention of the Federal Government in the power sector is yet to reflect in the industry’s current performance.
The intervention it was noted was aimed at…
Mele Kyari Mourns Pioneer NNPC MD, Festus Marinho
The Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mele Kyari has has mourned the death of the pioneer Managing Director of the Corporation, Festus Remi Ayodele Marinho.
In a statement on Tuesday, the…
OPEC Daily Basket Price: Wednesday, 20 Jan. 2021, Stood at $55.75 a Barrel
The price of OPEC basket of thirteen crudes stood at $55.75 a barrel on Wednesday, compared with $54.85 the previous day, according to OPEC Secretariat calculations.
The OPEC Reference Basket of Crudes (ORB) is made up of the following:…
Full text of Trump’s Farewell Speech After exit as 45th President of America
The baton of office was exchanged yesterday at the White House in Washington DC as Donald Trump surrendered to the constitutional mandate of the US on Wednesday, thus leaving the White House as the 45th President of America.Donald Trump’s…
Full Text of President Joe Biden’s Inaugural Speech
This is democracy’s day.
A day of history and hope.
Of renewal and resolve.
Through a crucible for the ages America has been tested anew and America has risen to the challenge.
Today, we celebrate the…
FG Takes Cooking Gas Expansion Programme to Rural Dwellers – Kyari
The Federal Government has set up plans to expand access to Liquefied Petroleum Gas (LPG), also known as cooking gas to rural dwellers, the Group Managing Director, Nigerian National Petroleum Corporation, Mr Mele Kyari has said.
Kyari…
Nigeria’s Cooking Gas Consumption Rises Above 1m MT – PPPRA
The Petroleum Products Pricing Regulatory Agency on Tuesday announced that the consumption of Liquefied Petroleum Gas in Nigeria, popularly called cooking gas, exceeded one million metric tonnes in 2020.
The PPPRA disclosed this on…