Dangote Petroleum Refinery has further reduced the prices of Automotive Gas Oil, popularly known as diesel, to N940 per litre, making it the third time the company has reduced the prices of the commodity. The refinery also reduced the prices of aviation fuel to N980 per litre. This is coming in the wake of its […]Read More
The Nigerian National Petroleum Company (NNPC) Limited and Newcross Exploration and Production Ltd, its Joint Venture partner in the Awoba Unit Field, have targeted ramping up Awoba Unit Field to 12,000 barrels per day (bpd) in May. In a release signed by Olufemi O. Soneye, Chief Corporate Communications Officer of the NNPC Ltd., the state-owned […]Read More
Shares of Portuguese energy firm Galp Energia surged over 20 percent in early trading on Monday following news of a significant oil discovery in offshore Namibia. Galp announced that initial exploration in the Mopane field suggests it could hold at least 10 billion barrels of oil. Testing at the Mopane-1X and Mopane-2X wells revealed “significant […]Read More
The Federal Government plans to sell the five electricity Distribution Companies (DisCos) managed by banks and Asset Management Company (AMCON) to technical power operators by July 2024. Minister of Power, Adebayo Adelabu, disclosed this during an oversight visit of the Senate Committee on Power to the ministry in Abuja on Monday. The Nigerian government, alongside […]Read More
NERC has handed over regulatory control of the Enugu electricity market to the Enugu Electricity Regulatory Commission (EERC), which is operated by the state government starting May 1, 2024, marking the first time NERC has transferred regulatory authority to a state government electricity regulator. According to NERC’s statement signed by Sanusi Garba and Dafe Akpeneye, […]Read More
The Nigerian National Petroleum Company Limited (NNPC Ltd) and its Joint Venture partner, First Exploration and Petroleum Development Company Limited (First E&P), have started oil production from OML 85, also known as Madu Field. The field, situated in shallow waters offshore Bayelsa State and operated by First E&P, is anticipated to produce an average of […]Read More
The World Bank and the African Development Bank (AfDB) have announced plans to come together and provide access to energy for 300 million Africans by 2030. According to the Banks, the plan will cost around $30 billion and is to be funded by the World Bank through the International Development Association (IDA) and the AfDB […]Read More
Heineken Lokpobiri, the Minister of State for Petroleum Resources, has said that the federal government is on the verge of approving the acquisition of Mobil Producing Nigeria Unlimited (MPNU) assets by Seplat Energy. He said on Tuesday that President Bola Tinubu is committed to the closure of the acquisition at the Facts Behind the Figures […]Read More
The Dangote Petroleum Refinery is now selling Automotive Gas Oil (AGO), popularly known as diesel, at a discounted price of N1000 per litre. This marks a decrease from the previous price of N1200 per litre set by the refinery two weeks ago. Aliko Dangote, Chairman of the Dangote Group, had previously stated that the refinery […]Read More
The Federal Government of Nigeria is spending N600 billion every month on petrol subsidies. This is according to Gabriel Ogbechie, Rainoil Limited CEO. Ogbechie made this statement on Tuesday during the Stanbic IBTC Energy and Infrastructure Breakfast Session held in Lagos. He said that with Nigeria’s daily fuel usage at 40 million litres and the […]Read More
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