NEWS

The Petroleum Products Pricing Regulatory Agency (PPPRA) has revealed that the non-availability of foreign exchange was the reason why many marketers were yet to start importation of petroleum products. The Executive Secretary of the…

The National Environmental Economic and Development Study (NEEDS) has said that Nigeria flared 225.1 billion standard cubic feet of gas, (bscf) between January and July 2020, stressing that gas flaring in Nigeria’s oil fields has taken a…

As part of the efforts to stimulate finance to critical sectors of the economy, the Central Bank of Nigeria (CBN) has released the guideline for the recently introduced N250 billion intervention facilities to help stimulate investment in…

… also N234m donations to support COVID-19 response by states. The Nigeria Liquefied National Gas (NLNG) Limited, has donated medical equipment to Edo and Adamawa states as part of its contribution to the N11.4 billion oil and gas…

Following the recent closure of Nigerian’s airports, being fallout of the Covid19 lockdown, midterm reports from some of the aviation sector operators in Nigeria gives no cheer.  While a number of the aviation fuel suppliers are…

The Lagos Deep Offshore Logistics Base (LADOL Free Zone) has refuted allegations that it was shortchanging the Nigerian government on the much needed investments and revenues at the free zone.LADOL had been accused of instituting…

Lagos based, Japaul Oil & Maritime Services Plc, a Nigerian petroleum-services company, is shopping for N27 billion ($70 million) in a share offer in November to fund its switch to mining, as crude exploration and production activities…

Nigeria has said that it plans to reduce importation of Liquefied Petroleum Gas (LPG) into the country when the 100 million standard cubic feet of gas capacity facility at Oredo flow station in Benin City, Edo State, is commissioned. …

Uganda’s state-owned Kiira Motors Corporation has said that it would begin the production of 5,000 electric vehicles every year, including buses, by 2021. The motor corporation is collaborating with the Chinese manufacturer, CHTC Motor…

Oilserv Limited in conjunction with Sir Emeka Okwuosa Foundation have distributed COVID-19 containment items and personal protective equipment worth over one hundred million naira to churches in Oraifite town and Dioceses in Anambra State.…

Fighters with ISIS Links Seize Port in Gas-Rich, Northern MozambiqueThere were reports yesterday that fighters captured a heavily defended port in the far northern Mozambique town of Mocimboa da Praia, close to the site of natural gas…

Leading and prominent African energy expert and finance executive Rolake Akinkugbe-Filani has joined the African Energy Chamber’s Advisory Board for 2020 and 2021. Rolake will be advising and supporting the African Energy Chamber within…

Nigerian National Petroleum Corporation (NNPC) has said that the launch of the Nigerian Gas Transportation Network Code (NGTNC is targeted at enhancing the use of gas as a catalyst for national economic development. On the other hand,…

   …Highest in five months The international oil benchmark, Brent crude, rose on Wednesday to its highest since early March after a large decline in the United States’ crude inventories and supported by a weak dollar. Brent, which…

The Independent Petroleum Marketers Association of Nigeria, South-West chapter has been directed its members to to sell Premium Motor Spirit, aka fuel at N150 per litre in their filling station. The new price represents a N5 increment…

Climate financing by seven of the world’s largest multilateral development banks (MDBs) totalled $61.6 billion in 2019, the African Development Bank has revealed. According to the 2019 Joint Report on Multilateral Development…

      …Demands focus on development of Ilaje land by government The Ilaje Development Summit Group (IDSG) has congratulated the Governor of Ondo State, Arakunrin Oluwarotimi Odunayo Akeredolu (Aketi) on his choice of a distinguished…

Operators at the Ladol Free Zone have lamented the exorbitant cost of land per square meter, and high cost of boat services in the zone, a development that has scared potential investors willing to take advantage of the strategic location…

OPEC has opened its Fund’s Young Professional Development Program (YPDP), a structured two-year program designed to prepare young professionals from the OPEC Fund’s member countries for a career in global development. In a publication…

The World Bank in a recent study on the African Continental Free Trade Area (AfCFTA), said the trade pact represents a major opportunity for countries to boost growth, reduce poverty, and broaden economic inclusion. It stated that if…