A compressed natural gas (CNG) tank explosion at a NIPCO station in Aduwawa, Benin City, Edo State, has left several people injured. Although no fatalities have been reported, the incident has sparked serious safety concerns. Footage of the aftermath, shared widely on X (formerly known as Twitter), shows the devastating scene. A station wagon, with […]Read More
Oil companies operating in Nigeria have pointed to host communities as the main culprits behind oil theft and pipeline vandalism in the region. This claim was made during a public hearing on oil theft, pipeline vandalism, and their effects on oil-producing states, held by the House of Representatives in Abuja. The companies highlighted that environmental […]Read More
The Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has rejected the proposed $1.3 billion sale of onshore oilfields to the Renaissance Group, citing the buyer’s lack of qualification to manage the assets, according to a Reuters report. Shell, which owns the assets via Shell Petroleum Development Company (SPDC), stated it was providing […]Read More
Libya’s crude oil production has recovered to 1.3 million barrels daily, the National Oil Corporation has reported, following the resolution of a political dispute over the appointment of a new governor to the nation’s central bank. “Efforts are still ongoing to increase production levels,” NOC also said. Crude production at most Libyan oilfields was suspended […]Read More
Dangote Group has announced its search for a floating production, storage, and offloading (FPSO) vessel with a capacity of 650,000 barrels to support its planned oil production. The company anticipates beginning production at its two Nigerian oil assets, Oil Mining Leases (OMLs) 71 and 72, in the fourth quarter of 2024 (October to December), following […]Read More
The federal government has approved a new system allowing petroleum marketers to obtain petrol directly from the Dangote Refinery, bypassing the Nigerian National Petroleum Company (NNPC) Limited. In a statement on Friday, Wale Edun, the Minister of Finance and Chairman of the Naira-Crude Sale Implementation Committee, shared updates on the progress of crude purchases and […]Read More
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
The NNPC Ltd has reiterated its commitment to work with host communities in the Niger Delta region towards lasting peace and economic prosperity. This was disclosed by Group CEO, Mallam Mele Kyari, during a dialogue session with the Niger Delta communities held in partnership with the Office of the Senior Special Assistant to the President […]Read More
The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has expressed concern over the increasing petrol pump prices in Lagos and Abuja, cautioning that this could lead to widespread economic challenges nationwide. Dele Oye, the National President of NACCIMA, raised these issues in a statement issued on Wednesday in Lagos. Oye pointed […]Read More
The Nigerian National Petroleum Company (NNPC) Limited has increased the price of Premium Motor Spirit, commonly known as petrol, from N855 per litre to N998 in Lagos and N1030 in Abuja. This price hike, which took effect on Wednesday, was noticeable at all NNPC depots in Lagos State and Abuja. The latest pricing reflects a […]Read More
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