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…
Consortium Mobilizes $200m for Green Energy Providers in Africa
By Chibisi Ohakah, Abuja
A consortium has announced the mobilization of $200million for renewable energy professionals, and for the electrification and energy transition in Africa. The facility will be launched in the first half of…
Nigeria Exchanges N1.64trn Crude for Refined PMS Under Direct Sale Direct Purchase
By Sunday Elom
Latest report from the Nigerian National Petroleum Company (NNPC) Limited has shown that Nigeria exchanged its crude oil valued at N1.64trillion for refined Premium Motor Spirit (PMS), from January to August 2021, under…
Nigeria Endorses NLNG Cooking Gas New Export Policy
By Sunday Elom
The federal government of Nigeria has endorsed decision by the country’s liquefied natural gas company to suspend the export of cooking gas (Liquefied Petroleum Gas (LPG).
The Nigerian Liquefied Natural Gas (NLNG)…
Vitol predicts drop of oil and gas demand amid rising prices
By Sunday Elom
The world's largest crude oil trader, Vitol, has predicted that there might be a drop in oil and gas demand as the price of the commodity continues to rise in the global market.
According to Vitol’s head of Asia,…
EEDC Cries Out Over Rising Cases of Energy Theft
By Chibisi Ohakah, Abuja
Management of Enugu Electricity Distribution Company (EEDC), has cried out against recurring incidence of outright energy theft and meter bypass within the South-East region of Nigeria.
The Disco said this…
Nigeria Limits Tax Incentives on Oil, Gas Operations
This new policy which is aimed at renewing the drive to boost domestic resource mobilization, is part of the latest changes effected in the Finance Act, 2021, which was signed into law by President Muhammadu Buhari on December on 31…
Global Oil, Gas Investments to Grow By $26bn in 2022 – Study
By Chibisi Ohakah, Abuja
A study has said that despite challenges currently faced by the global oil and gas market, investments in the sector may grow by $26 billion in 2022, globally.
This corresponds to a 4% rise from last year…
Solar Power Naija’: NSIA Grants $24m to Power 200,000 Homes in Nigeria
By Chibisi Ohakah, Abuja
Nigeria Sovereign Investment Authority (NSIA), the institution that manages Nigeria's sovereign wealth fund, has allocated $24 million (N10billion) for the deployment of more than 200,000 solar home systems in…
OPEC Blames Nigeria, Others for Target Failure
............Nigeria’s compliance, 239%
By Chibisi Ohakah, Abuja
The Organisation of Petroleum Exporting Countries (OPEC) has blamed the inability of Nigeria and a number of other members to pump enough crude oil, for the overall…
OPEC Working Not To Overheat Oil Market, As Prices Edge Lower
The Organization of Petroleum Exporting Countries and its allies are trying to prevent crude prices to climb to $100 a barrel, and are reviving production quickly enough to prevent global markets from “overheating,” Oman’s oil minister…
PIA Comes With Plenty Business Opportunities for NNPC – CEO
BY Chibisi Ohakah, Abuja
The Nigerian new oil sector legislation, Petroleum Industry Act (PIA), has been tipped to provide business opportunities that will enable the Nigerian National Petroleum Company (NNPC) Limited earn more revenue…
Protests Bars Shell in Bayelsa Community
By Sunday Elom
Protest by the aggrieved people of Opukushi community in the Ekeremor Local Government Area of Bayelsa State has reportedly disrupted the Shell Development Company of Nigeria Limited (SPDC) oil exploration activities at…
Nigeria Ready to Auction Strategic Mining Rights – minister
……….Boasts of 44 Minerals in commercial quantities…………Invests $50 million to explore gold, lithium others…………beckons on international investors
By Chibisi Ohakah, Abuja
Nigeria may auction rights to mine some strategic minerals…
Gov Wike Names Federal Security Operatives Owning Illegal Refineries in N/Delta
……….NSCDC disbands anti vandal team, suspends team leader
By Chibisi Ohakah, Abuja
Barely 24 hours after the outburst of the Governor of River state, Nyesom Wike, over links between illegal refineries in the region and Nigeria’s…
Nigerian Army Builds off Grid Solar Farm in Abuja
By Sunday Elom
The Nigerian Army has commissioned its Army Cyber Warfare Command (NACWC) Off Grid Solar Farm, located at the Giri Command, in the nation capital, Abuja. The Army said this has become necessary in line with the vision to…
NLNG Plans to Crash Price of LPG with Supply of 100% Production
By Sunday Elom
Nigeria has taken the bold step to boost local consumption of liquefied natural gas (LNG) also known as cooking gas, by ensuring that 100% of Nigeria Liquefied Natural Gas (NLNG) production is emptied into the Nigerian…
Study: Nigeria Has Under-performed Market Penetration in Africa
By Chibisi Ohakah, Abuja
Increasing at 22% average annual rate, the Nigerian solar, off-grid market has been placed among the fastest-growing in Africa during the past five years, a study has said.
The study conducted by Boston…
Marking the End of An Era: OPEC Secretary General Barkindo Served with Distinction
Barkindo, throughout his tenure with OPEC, has fought the good fight, finished his race, and kept the faithMany will agree that OPEC Secretary General H.E. Mohammed Barkindo walks in the same shoes as late world leaders Kofi Annan, who…
JTF, Operation Delta Safe Unveil 2021 Scorecard
…….13 shiploads of crude intercepted
…….567 suspects arrested
…………1,423 illegal refineries shut, 4,929 storage facilities seized
By Chibisi Ohakah, Abuja
The Joint Task Force (JTF), also called Operation Delta Safe, has…
Nigeria’s Tale of Perennial Pipeline Vandalism
By Chibisi Ohakah, Abuja
A recurring feature in Nigeria’s oil and gas experience is the incidence of oil pipeline vandalism. It is a permanent title in the Nigeria National Petroleum Company Ltd (NNPC) Monthly Financial and Operations…