The Nigerian Labour Congress and the Trade Union Congress have agreed to suspend the planned nationwide strike scheduled to begin on Wednesday. The strike was suspended after hours of talks between the government and labour unions. The government, led by Speaker of the House of Representatives Femi Gbajabiamila, agreed to review the unions’ demands. The […]Read More
The Nigerian National Petroleum Company (NNPC) Limited has announced that it will end its oil swap contracts with traders and will instead pay cash for petrol imports. The move is part of a broader plan to deregulate the petrol market and reduce the burden on government finances. Under the current oil swap arrangement, the NNPC […]Read More
The Nigerian National Petroleum Company Limited (NNPCL) has entered signed agreements with five energy organisations for the renewal of the Oil Mining Lease (OML) 13 suite. These organisations include, China National Offshore Oil Corp, South Atlantic Petroleum, Total Upstream Nigeria Limited, PRIME 130 and the Nigeria Upstream Petroleum Regulatory Commission. The NNPCL tweeted that the […]Read More
The federal government led by Muhammadu Buhari has completed the Zungeru hydropower project. This is according to Federal Minister of Power, Abubakar Aliyu. The minister, who shared information via his Twitter account said the project is complete and ready to increase the country’s power capacity by supplying power to the Transmission Company of Nigeria (TCN). […]Read More
Angola overtook Nigeria to become Africa’s top oil producer in April 2023, according to direct reporting data from the April 2023 Organization of the Petroleum Exporting Countries (OPEC) Monthly Oil Market Report (MOMR). The report shows that Angola recorded crude oil production of 1.06 million barrels/day in April 2023. Nigeria recorded crude oil production of […]Read More
The International Renewable Energy Agency (IRENA) today launched a new initiative aimed at supporting young entrepreneurs and innovators in driving the renewable energy transition. The new IRENA NewGen Renewable Energy Accelerator (NewGen), will provide capacity building, mentorship and other resources to youth-led projects and start-ups that are developing innovative solutions to advance the adoption of […]Read More
The federal government’s efforts to make the country self-sufficient in crude oil refining to save scarce foreign cash utilised in petroleum product importation have received a boost as the 650,000 barrels per day capacity has been reached. President Muhammadu Buhari will inaugurate the Dangote Refinery, the world’s largest single-train refinery, on May 22. A source […]Read More
Nigeria’s state oil company, NNPC Ltd, announced late Wednesday that it had signed a memorandum of understanding with Golar LNG of Norway to build a floating liquefied natural gas plant in the country. Nigeria, Africa’s largest oil producer, has some of the world’s largest gas reserves and is looking for investment to boost domestic supplies […]Read More
Seplat Energy has launched its initiative to donate well-equipped STEAM Laboratories to schools to promote a learning environment where students can participate actively in hands-on, practical STEAM learning. The goal is to unleash students’ potential and assist them in developing their science, engineering, mathematics, and art skills by using technology to create, collaborate and complete […]Read More
ExxonMobil Corp units in Nigeria have declared force majeure over oil shipments from several terminals in the country after industrial action, a spokesman for one of the companies told Bloomberg. Three units of the US major have declared a milestone allowing them to waive contractual obligations due to events beyond their control, a spokesman for […]Read More
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