ICPC confirms discrepancies in students’ loan administration
The China National Offshore Oil Company (CNOOC), a state-controlled entity, is preparing to inaugurate a refinery and petrochemical complex later this year after a significant $2.74-billion upgrade, as reported by Reuters on Tuesday, citing industry insiders. The revamped joint venture complex, located on Daxie Island in Ningbo, will include a new 120,000-barrels-per-day (bpd) crude unit. […]Read More
The House of Representatives, through its Committee on the Review of the Constitution of the Federal Republic of Nigeria, 1999 (As Amended), has extended the deadline for the submission of memoranda on the creation of new states and local governments in response to public demand. The House have extended the submission to Wednesday, March 26, […]Read More
The Independent Petroleum Producers Group (IPPG) has lauded President Bola Tinubu for his bold policy reforms and visionary leadership in revitalising Nigeria’s energy sector. HIGHLIGHT At the 8th Nigeria International Energy Summit (NIES 2025) opening ceremony, Abdulrazaq Isa, IPPG Chairman, highlighted the administration’s role in driving industry advancements, restoring investor confidence, and positioning Nigeria as […]Read More
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed that Nigeria’s technical potential for crude oil production stands at 2.24 million barrels per day (bpd), significantly higher than the current production quota of 1.75 million bpd. This announcement was made by Gbenga Komolafe, the Chief Executive of NUPRC, during the ongoing Nigeria International Energy Summit […]Read More
Dangote Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N890 to N825 per litre. This new pricing will take effect on February 27, 2025, marking the refinery’s second price cut this month. Earlier in the month, on February 1, the refinery had already reduced […]Read More
Indigenous oil producers, the Independent Petroleum Producing Group (IPPG) has praised the federal government for successfully concluding divestment deals by International Oil Companies (IOCs) in Nigeria. According to the IPPG, these divestments have significantly increased the activities of indigenous companies, which now contribute approximately 50% to the country’s total oil production. Abdulrazaq Isa, Chairman of […]Read More
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Oil and Gas
oil-and-gas:Oil and Gas
IPMAN Threatens Nationwide Strike Over N100bn Unpaid Bridging Claims, Petrol
Nigerians may face petrol shortages in the coming days as the Independent Petroleum Marketers Association of Nigeria (IPMAN) has threatened a nationwide strike over unpaid bridging claims amounting to N100 billion. The association announced this plan during a press briefing in Abuja on Monday, issuing a seven-day ultimatum to the Nigerian Midstream and Downstream Petroleum […]Read More
The Nigerian National Petroleum Company (NNPC) Ltd strongly refutes the false and misleading allegations made in a viral online video, which claims that NNPC fuel does not last. In a statement on Saturday by its spokesperson, Olufemi Soneye, the NNPC said this assertion is baseless and entirely unfounded, originating from unverified and amateur research that […]Read More
The Africa Energy Bank (AEB) to be hosted in Nigeria is expected to take off officially by the first quarter of this year, the Minister of State for Petroleum Resources (Oil) said Tuesday. Senator Heineken Lokpobiri made this known while giving a keynote address at the ninth edition of the Sub-Saharan Africa International Petroleum Exhibition […]Read More
