The Federal Government has restated that it will not determine the price of petroleum products from the Dangote refinery once fully operational. Farouk Ahmed, Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), said the government is urging oil marketers to commence the process of establishing Compressed Natural Gas (CNG) points at […]Read More
President Bola Tinubu has instructed all government ministries, departments, and agencies (MDAs) to purchase only vehicles powered by compressed natural gas (CNG). This directive was communicated through a statement from the President’s spokesperson, Ajuri Ngelale, on Monday. The statement outlines that this decision is a crucial component of the administration’s larger plan to secure energy, […]Read More
While inflation concerns dragged oil prices lower earlier on Monday, with U.S. consumer price data due out Tuesday, by late morning, anticipation of OPEC’s monthly report due on the same time bumped the two key crude oil benchmarks up at least half a percentage point. On Tuesday, OPEC will release its Monthly Oil Market Report […]Read More
The US and China have pledged to further cooperate on methane reduction, among other things, following a first meeting between the countries’ new climate envoys on May 8-9, in Washington. The meeting follows video conferencing between the two sides in January under their “working group on enhancing climate action in the 2020s” initiative. China and […]Read More
TotalEnergies is poised to foster the development of 100 promising startup ventures across 32 African countries, with Nigeria prominently featured, through the fourth edition of the ‘Startupper of the Year Challenge.’ Adesuwa Adewole, General Manager, TotalEnergies Country Services, stated that the fourth edition of the challenge reaffirms TotalEnergies’ commitment to promoting innovation and entrepreneurship and […]Read More
11Plc (formerly Mobil Oil Nig. Plc), one of Nigeria’s petroleum marketing companies, has recorded N526 billion in revenue for the 2023 financial year with Profit After Tax growing to N26.56 billion and earnings per share at N74. Ramesh Kansagra, 11Plc Chairman, who was represented by Non-Executive Director, Alhaji Abdilkadir Aminu drooped this cheery news to […]Read More
The Nigerian National Petroleum Company Exploration and Production Limited (NNPC E&P Ltd), an upstream subsidiary of NNPC and Natural Oilfield Services Ltd (NOSL), a subsidiary of Sterling Oil Exploration & Energy Production Company Ltd (SEEPCO), has commenced oil production at Oil Mining Lease (OML) 13 in Akwa Ibom State. NNPC in a statement signed by […]Read More
Nigeria has put forth 12 oil blocks in a fresh licensing round, aiming to complement a previous round involving seven blocks that was halted after last year’s governmental transition. Gbenga Komolafe, the CEO of the upstream regulator NUPRC, highlighted that the selection of these 12 blocks was meticulous, targeting international investors equipped with both financial […]Read More
The Nigeria Labour Congress (NLC) and Trade Union Congress of Nigeria (TUC) have given the Nigerian Electricity Regulatory Commission (NERC) till May 12, 2024, to reverse the hike in electricity tariff to N65/kWh or face a nationwide action across its offices. Other demands of the two labour centres include: “Immediate cessation of the discriminatory practice of segregating […]Read More
Kano Electricity Distribution Company (KEDCO)Â has entered into a partnership with some leading energy supply companies to develop embedded power generation and Interconnected and Isolated mini-grids with a primary focus on growing electricity supply by an additional 40 megawatt in its operational area. According to the press statement signed by Sani Bala Sani, head of corporate […]Read More
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