NEWS

Three Senate committees have been given eight weeks to make required legislative input into the Petroleum Industry Bill (PIB) presented to the National Assembly recently. The three committees include, Petroleum Downstream, Petroleum…

SBG Systems releases the Virtual Base Station feature in its in-house post-processing software called Qinertia. Geospatial professionals benefit from an optimal centimetric position accuracy in all their projects, even for corridor mapping…

Following increased losses and negative capital as a result of wide differentials between excess of liabilities over its assets as stated in the recently published 2019 Audited Financial Statement of the Nigerian National Petroleum…

       …W/Africa’s coast now accounts for 95% of global maritime kidnappings – IMB The International Maritime Bureau (IMB) has accused Nigeria of accounting for most of the pirates terrorizing the Gulf of Guinea. Quoting a report by IMB…

Minister of State for Petroleum Resources, Chief Timipre Sylva, has said that by 2027, Nigeria would have increased local content in the sector from its current 10 per cebt to about 40%. Speaking during a tour of Lee Engineering and…

Leading electrification specialist, Equipmake, has readied a range of high performance yet cost-effective advanced electric motors for mining equipment and vehicles, bringing major benefits in terms of power density, low running costs and…

The Nigerian Maritime Administration and Safety Agency (NIMASA) has issued a three-month ultimatum to companies engaged in Cabotage trade in Nigeria to register all vessels used in coastal and inland waters trade. NIMASA said that this…

I speak to you today as your President and fellow citizen on this epoch occasion of our country’s 60th independence Anniversary. As President, I wish to renew my appreciation to Nigerians for entrusting me with your hopes and aspirations…

On Oct. 1, 1960, everything seemed possible for Nigeria: After nearly 80 years of colonialism under Great Britain, it was finally an independent nation.  During the newly independent nation’s earliest days, there was every reason for…

The OPEC Fund for International Development (the OPEC Fund) has signed a US$20 million term loan in favor of East African Development Bank (EADB). EADB will use the loan to support small- and medium-sized enterprises (SMEs) and…

The Nigerian National Petroleum Corporation (NNPC) and Sterling Exploration and Energy Production Company (SEEPCO) have signed an agreement for the development and commercialization of gas from the Oil Mining Lease (OML) 143 that could…

The Federal Government has said that it plans to roll out palliatives that would ameliorate the sufferings that Nigerian workers may experience as a result of the hike in electricity tariffs as well as the impact of the deregulation of the…

The Nigeria Labour Congress and the Trade Union Congress have suspended the strike earlier scheduled to commence today (Monday). The latest development followed an agreement organized labour reached with the Federal Government at a…

President of the Senate, Ahmad Lawan, has said for the African Continental Free Trade Agreement to yield expected results, same must be backed by requisite legal frameworks, right policies, and robust implementation. He made this known…

Following the failure of the Federal Government to reverse the increase in the electricity tariffs and pump price of petrol organized labour movement in the country said will commence strike and nationwide protest across the country from…

Nigerian electricity generation companies (GenCos) sold electricity worth N294.16 billion in the first five months of this year to the Nigeria Bulk Electricity Trading (NBET) Plc. The NBET buys electricity in bulk from GenCos through…

Nigeria, through the Central Bank of Nigeria (CBN) has introduced a solar intervention fund that will grant obligors access to credit facility not exceeding N500 million maximum. The CBN said the objective is to provide affordable…

Chevron Invests $1.45bn in Nigerian content development – Report Chevron Nigeria Limited (CNL) has disclosed that it invested $1.45 billion in Nigerian Content Development (NCD) in 2019. The multinational Oil Company made the…

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…