• October 11, 2024
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ExxonMobil-Led Consortium Advances to Second Exploration Phase off Crete

ExxonMobil-Led Consortium Advances to Second Exploration Phase off Crete

October 10, 2024

A consortium led by the U.S. oil giant ExxonMobil has completed the initial exploration phase southwest of the Greek island of Crete and has opted to proceed to the second stage, according to Greece’s state-owned Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA) on Thursday. ExxonMobil and Helleniq Energy are collaborating on these exploration studies […]Read More

DisCos Generate N431.16 Billion in Q2 2024, but Remittance Performance Declines

DisCos Generate N431.16 Billion in Q2 2024, but Remittance Performance

October 10, 2024

Nigerian Electricity Distribution Companies (DisCos) generated N431.16 billion in revenues from customers during Q2 2024, reflecting a collection efficiency of 79.31%. This information is detailed in the quarterly report of the Nigerian Electricity Regulatory Commission (NERC) for the second quarter of 2024. The revenue was based on a total billing of N543.64 billion, marking a […]Read More

Our refinery was built without any government incentive – Dangote

Our refinery was built without any government incentive – Dangote

October 8, 2024

Alhaji Aliko Dangote, President of Dangote Group, revealed on Tuesday that the Dangote Refinery was constructed without any government incentives. Dangote made this remark during his keynote speech at the Crude Oil Refinery Owners Association of Nigeria (CORAN) Summit held in Lagos, which was themed “Making Nigeria a Net Exporter of Petroleum Products.” Represented by […]Read More

Dangote Refinery Becomes Sole Supplier of Jet Fuel to Nigerian Airlines

Dangote Refinery Becomes Sole Supplier of Jet Fuel to Nigerian

October 8, 2024

The Nigerian federal government has announced that the Dangote Refinery has been designated as the sole supplier of jet fuel, or Jet A1, to aviation companies operating within the country. This was revealed by Festus Keyamo, the Minister of Aviation, during an interview with Channels TV on Tuesday. According to Keyamo, airline operators have agreed […]Read More

Dangote Refinery Would Propel Africa Out of Poverty – AU

Dangote Refinery Would Propel Africa Out of Poverty – AU

October 7, 2024

Mohamed Ibn Chambas, a distinguished diplomat and the African Union High Representative for Silencing the Guns, has hailed the Dangote Refinery, with its capacity of 650,000 barrels per day, as a transformative initiative that could help lift Africa out of poverty. The Chairman of the African Union High-Level Panel on Sudan made this remark during […]Read More

Nigerian Firm Secures €40 Million German Waste Management Contract

Nigerian Firm Secures €40 Million German Waste Management Contract

October 7, 2024

A Nigerian waste management firm has signed a €40 million export agreement with two German companies for the delivery of three waste treatment plants and waste collection trucks to Nigeria. Zoomlion Nigeria finalised the deal with FIMA Industries Germany and FAUN Umwelttechnik GmbH during the German-Nigerian Business Forum held in Lagos on Monday. Lucas Dörr, […]Read More

FG Commences Crude Oil Sales to Dangote Refinery, Others in Naira

FG Commences Crude Oil Sales to Dangote Refinery, Others in

October 6, 2024

The Federal Government has revealed that crude oil sales to Dangote Refinery and other local refineries in naira commenced on October 1, 2024. This was confirmed by Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, in a statement released on Saturday. The Federal Executive Council (FEC) had approved the sale of […]Read More

IEA Warns of Global Gas Supply Strain Amid Rising Demand, Geopolitical Tensions

IEA Warns of Global Gas Supply Strain Amid Rising Demand,

October 4, 2024

The International Energy Agency (IEA) has expressed concerns about possible gas supply challenges due to rising global consumption and ongoing geopolitical tensions as winter approaches. In its latest report, the IEA highlighted that industrial demand, particularly from Asia, is driving a significant increase in gas consumption. The agency predicts that global gas demand will rise […]Read More

Oil Workers Hold National Prayer Session Amid Rising Petrol Prices, Economic Hardship

Oil Workers Hold National Prayer Session Amid Rising Petrol Prices,

October 4, 2024

As Nigerians continue to endure economic difficulties brought on by the rising petrol pump prices, oil workers and companies under the Ministry of Petroleum Resources have organised a prayer session, seeking divine assistance as the nation faces various challenges. The oil workers, under the banner of Petroleum Industry Christian Fellowship International (PICFI), gathered at a […]Read More

Nigeria Pushes for $10 Billion Investment with New Gas Policy Framework

Nigeria Pushes for $10 Billion Investment with New Gas Policy

October 4, 2024

Nigeria is advancing with a new policy framework aimed at revitalising its natural gas sector, seeking to attract up to $10 billion in investment. The proposed measures offer tax incentives to entice both local and international investors to tap into the country’s deep-water gas reserves. The framework, already approved by the Federal Executive Council, is […]Read More

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