Oil and gas giant Seplat has announced its ambition to double its crude oil production capacity within six months. This follows their acquisition of assets previously held by ExxonMobil, who have withdrawn from Nigeria’s onshore oil sector. Seplat’s Chief Financial Officer, Eleanor Adaralegbe, outlined this target in an interview with the Financial Times on Tuesday. […]Read More
Aba Power Limited Electric (APLE), an electricity distribution company (DisCo) serving nine Local Government Areas in Abia State, has announced a substantial increase in electricity tariffs, with rates soaring by over 50 percent. The revised tariffs, which came into effect on 1 January 2025, were authorised by the Nigerian Electricity Regulatory Commission (NERC). The company […]Read More
Shell has signed a significant engineering, procurement, and construction (EPC) contract with China’s Offshore Oil Engineering Company (COOEC) to advance Nigeria’s gas production. COOEC will deliver a platform jacket and topsides for the HI gas and condensate project in Nigeria’s Offshore Mining Licence (OML) 144. Key Milestones in Offshore DevelopmentSituated 50 kilometres offshore in the […]Read More
Residents of Abuja will experience daily power outages lasting seven hours from January 6 to January 20, 2025. This disruption is due to the Transmission Company of Nigeria’s (TCN) relocation of power transmission towers along the Outer Southern Expressway. The planned outages are part of efforts to support the Federal Capital Development Agency’s (FCDA) road […]Read More
The management of BUA Refinery and Petrochemicals has refuted reports claiming its 200,000 barrels per day (bpd) refinery in Akwa Ibom is 90 percent complete. In a statement shared via the Group’s official X account (formerly Twitter) on Sunday, the company acknowledged significant progress in the project while clarifying that the facility has not yet […]Read More
Oil marketers under the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) have called on the Federal Government to privatise state-owned refineries, including the 125,000 barrels per day Warri and Kaduna refineries, as part of broader reforms to enhance transparency, competition, and operational efficiency in the downstream petroleum sector. In a report titled 2024 […]Read More
The Nigerian National Petroleum Company (NNPC) Limited has announced that the Port Harcourt Refinery, with a capacity of 150,000 barrels per day (bpd), and the Kaduna Refinery are undergoing extensive rehabilitation to achieve world-class operational standards. This was revealed in a statement issued by Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd., in response […]Read More
The Jigawa State Government has approved and allocated N1 billion to acquire a 10 percent stake in the Kano Electricity Distribution Company (KEDCO). Sagir Musa, the Commissioner for Information, Youths, Sports, and Culture, made his known in a statement on Tuesday that the state executive council had approved the release of the funds. Musa said […]Read More
The Nigerian Electricity Regulatory Commission (NERC) has officially transferred regulatory oversight of Ogun State’s electricity market to the Ogun State Electricity Regulatory Commission (OGERC), in line with the provisions of the amended Electricity Act 2023. Seven states, including Edo, Enugu, Ekiti, Imo, Ondo, Oyo, and Lagos, have also gained regulatory autonomy over their respective electricity […]Read More
Bharat Petroleum Corporation Ltd (BPCL), India’s second-largest fuel retailer, has unveiled plans to invest up to $11 billion in constructing a state-of-the-art refining and petrochemical complex in southern India. This development was revealed by the company’s chairman in a recent interview with Reuters. “We feel there is a big opportunity in refining sector. India’s primary […]Read More
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