The Economic and Financial Crimes Commission (EFCC) said it has traced over 300,000 dollars, laundered to a suspected internet fraudster. A statement by Mr Dele Oyewale, the Spokesperson of the EFCC on Tuesday in Abuja said the suspect was among the 35 suspects arrested Sunday in Auchi area of Edo. Oyewale said the arrest was […]Read More
Digital Skill: The Federal Government says it has trained no fewer than 200,000 Nigerians on Artificial Intelligence (AI) and emerging technologies in order to build a digitally skilled workforce for the country. Chief Uche Nnaji, the Minister of Innovation, Science and Technology, disclosed this on Tuesday in Abuja at the 10th Annual Symposium and Awards […]Read More
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has forecast that Nigeria will emerge as a full-fledged petroleum exporting country within the next two years. This optimistic projection comes in the wake of the Nigerian Midstream and Downstream Petroleum Regulatory Authority’s (NMDPRA) announcement of a significant milestone—the licensing of 83 refineries nationwide, boasting […]Read More
Crude oil prices surged to a three-week high earlier today, driven by the latest U.S. oil inventory data from the American Petroleum Institute (API) and expectations of a tighter market due to Washington’s intensified sanctions on Iran and Venezuela. At the time of writing, Brent crude was trading at $73.13 per barrel, while West Texas […]Read More
With 585 GW of capacity additions, renewables accounted for over 90% of total power expansion globally in 2024. Â Â Renewable Capacity Statistics 2025 released by the International Renewable Energy Agency (IRENA) today shows a massive increase in renewable power capacity during 2024, reaching 4 448 gigawatts (GW). The 585 GW addition last year indicates a 92.5% […]Read More
The shutdown of Shell’s 147,000 barrels per day Wesseling refinery, coupled with a power unit failure at the Miro refinery, has intensified demand for oil product barges on the Rhine this week. However, low water levels have significantly increased freight rates. Heating oil prices in the Cologne region have been on the rise since mid-March, […]Read More
Dangote refinery is repositioning to sustain production capacity and process over 100 various types of crude oil despite shortage of Nigerian crude oil. The President/Chief Executive, Dangote Industries Limited, Aliko Dangote, spoke on this when he received a delegation of Harvard Kennedy School scholars. He said the ingenuity involved in constructing a world-class refinery, which […]Read More
The Minister of State for Petroleum Resources, Senator Heineken Lokpobiri on Wednesday March 12, 2025, toured the TotalEnergies’ offshore fields of Ofon and Egina as part of a one-day familiarization visit. Lokpobiri’s remarks The visit was intended to intimate the Minister with TotalEnergies’ investment plans, ongoing projects and challenges faced by the company in the […]Read More
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 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
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