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 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
Benchmark crude oil prices surged by more than 4 percent on Thursday due to fears that Israel might strike Iran’s oil and gas infrastructure. In response, Washington tried to calm the situation, assuring that no Israeli strike would occur today to prevent further increases in oil prices. As of 10:47 a.m. ET on Thursday, Brent […]Read More
African oil-producing countries have secured 45 percent of the initial $5 billion required to establish the Africa Energy Bank (AEB), aimed at financing oil projects across the continent in response to a lack of funding from international markets. Nigeria, Angola, and Ghana are among the early financial backers of the Africa Energy Bank, according to […]Read More
The Niger Delta Power Holding Company (NDPHC) has revealed that the Egbema Power Station, with a capacity of around 375 megawatts (MW) in Imo State, is set to be completed by 2025. The managing director of NDPHC, Jenifer Adighije, made this announcement during an inspection of the facility in Ohaji-Egbema Local Government Area, Imo State. […]Read More
The Minister of Power, Adebayo Adelabu, has announced that over 40% of Nigerians now enjoy more than 20 hours of electricity daily. He made this statement on Sunday while reviewing the activities of the Ministry of Power over the past year. Adelabu highlighted that these achievements form part of the government’s broader initiative to provide […]Read More
The Federal Government, through Vice President Kashim Shettima, has welcomed ExxonMobil’s proposed $10 billion investment in Nigeria’s deep-water oil operations, describing it as a clear testament to the administration’s economic reforms and investment-friendly policies. This is coming just as the international maritime giant, DP World, has announced plans to develop a multibillion-dollar port project in […]Read More
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has urged the Federal Government, through the Nigerian National Petroleum Company (NNPC) Limited, to increase its stake in the Dangote Refinery to 45% in order to enhance the nation’s energy security. Festus Osifo, the President of PENGASSAN, made this statement on Tuesday during the […]Read More
Aliko Dangote, the Chief Executive Officer of Dangote Refinery, has criticised the Nigerian National Petroleum Company (NNPC) Limited for pulling out of the original agreement to acquire a 20% stake in his refinery, labelling the move as “a big mistake.” Speaking during an interview with Bloomberg TV in the United States on Monday, Dangote explained […]Read More
Aliko Dangote, Chief Executive Officer of Dangote Refinery, has addressed the ongoing concerns about fuel pricing, asserting that the petrol sold by his refinery to the Nigerian National Petroleum Company (NNPC) was offered at a price lower than what the NNPC had imported. Dangote made this clarification on Monday during an interview with Bloomberg TV […]Read More
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