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…
How Renewable Energy Can Solve Nigeria’s Energy Crisis
Fuel queues recently resurfaced in many filling stations across the country following the shutdown of operations by some independent petroleum marketers who argue that they are no longer making reasonable profit by selling petrol at the…
Removal Of Fuel Subsidy Will Solve Fuel Supply Shortage – Oil Marketers
Nigeria oil marketers under the umbrella of the Major Oil Marketers Association of Nigeria (MOMAN), have resumed calls for removal of fuel subsidy by the federal government.
The association argued that deregulation of petrol prices in…
Nigerian States Lose N18.8bn In Oil, Gas Revenues In 2022 – World Bank
A World Bank report on Nigeria Development Update has indicated that states in Nigeria stand risk of losing about N18.8 billion in oil and gas revenues this year.
The bank noted that this is due to the worsening revenue collection at…
Nigeria Woos UK, EU to Invest in Trans Saharan Gas Pipeline Project
President Muhammadu Buhari has called on the United Kingdom and the European Union countries to invest in the proposed Nigeria – Morocco, 4000km pipeline project.
The gas pipeline project is designed to bring Nigerian gas – the largest…
Nigeria Doubles Freight Rate on Subsidized Imported Fuel
Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, has said that Nigeria’s freight rate on subsidised imported petrol had been increased to N20.46 per liter of gasoline…
Nigeria Stakes Gas as Favourite Energy-Transition Fuel
…………Ready to Lead Global Net-zero Transition
Minister of state, petroleum, Mr. Timipre Sylva has said that Nigeria is staking natural gas as its favourite transition fuel, even as it hopes to play a key role in the global energy…
NCDMB Commended for Motivating Local Energy Service Companies
Group managing director of Lekki Nigeria based Future Concerns Group, Mr. Tony Oguike, has commended the Nigerian Content Development Management Board (NCDMB) for motivating Nigerian energy service companies to invest in strategic…
Lagos Business School Wins First SUNREF Renewable Energy Credit Facility
The Sustainable Use of Natural Resources and Energy Finance (SUNREF) Nigeria project has announced the famous Lagos Business School (LBS) as the first beneficiary of the SUNREF Nigeria credit facility.
SUNREF is a project by the French…
Iraq to Raise Oil Production Capacity to 6mbpd Over 5yrs
Iraq has been reported to be mulling the idea of raising its oil production capacity to 6 million bpd over the next five years, but no more than that because of constraints weighing on the industry’s expansion.Quoting Iraqi deputy prime…
Namibia Hopes on Recent Major Offshore Discoveries to Double its Economy
Namibia has said that following several offshore oil discoveries in recent months, its economy stands the chance of doubling in the next two decades.
Namibia’s head of the National Petroleum Corporation of Namibia (NAMCOR) told…
Nigeria Rallies Support for $13bn Trans-Saharan Gas Pipeline
The federal government has charged all parties – Nigeria, Niger and Algeria – involved in the construction of the $13billion Trans-Saharan Gas Pipeline to fast-track measures for the completion of the multibillion dollar project.
It…
Wabote Calls for Tailor-Made Petroleum Education in Nigeria
Executive secretary of the Nigerian Content Development and Management Board, Mr. Simbi Wabote, has said that there is an urgent need for the federal government, as well as stakeholders to promote of quality petroleum education and…
Nigeria’s Economically Crippling Petrol Subsidy is a Critical Climate Issue
Nigeria’s government has said it will re-evaluate its position on petrol subsidies this month.Global economic developments and domestic challenges such as oil theft have led to a revenue crisis that makes the subsidies debilitating for the…
EU Enters Strategic Partnership with Gulf Nations
The European Union has announced a ‘strategic partnership’ with the Gulf Cooperation Council and its member states as part of enhancing engagement in the broader region.
In a 9-page publication of the council’s conclusions released…
Russia Accuses Ukraine of Bombing its Oil, Gas Drilling Platforms
Russia has accused Ukraine military forces of attacking its offshore oil and gas drilling platforms in the Black Sea yesterday.
A senator representing Crimea in Russia’s upper house of parliament, Olga Kovitidi, reportedly told Russian…
Energy; Original Equipment Manufacturers Urged to Embrace Local Production
Representatives of Original Equipment Manufacturers (OEMs) have been called upon to emulate the example of Future Concerns Group, a local manufacturer of personal protective equipment (PPE) by developing clear plans to domicile the…
Nigeria Sets Up Committee for Promotion of Electric Vehicles
Nigeria has set up a technical committee to for develop legal framework for the promotion, adoption, patronage as well as usage of electric vehicles in Nigeria.
Using the framework of the National Automotive Design and Development…
NCDMB Commence Disbursement of $40m Women in Energy Fund
Nigerian Content Development and Monitoring Board (NCDMB) has commenced consideration of applications for the disbursement of the $40million Women in Energy fund endowed in partnership with the Nigerian Export Import Bank.
Already the…
Nigeria To Play Key Role in Global Energy Transition – Petroleum Minister
The Minister of State for Petroleum Resources, Chief Timipre Sylva, has said that Nigeria will play a leading role in the global net-zero transition.
Chief Sylva, who said this at the weekend while speaking at the 10th anniversary…
NEXIM Explains Conditions for the $40m Women in Energy Fund
The Nigerian Export Import Bank (NEXIM) has explained that the $40million Women in Energy Fund packaged in collaboration with the Nigerian Content Development and Management Board (NCDMB) is a loan, and not a grant.
Providing an update…