Energy

Saudi Arabia on Sunday put a value of up to $1.71 trillion on energy giant Aramco in what could be the world’s biggest IPO, but missed Crown Prince Mohammed bin Salman’s initial target of $2 trillion.

Sporadic protests have broken out in a number of Iranian cities after authorities announced a surprise decision to ration and increase the price of petrol as part of efforts to offset the effect of crippling US sanctions.

The Nigerian National Petroleum Corporation (NNPC) and the United States Trade and Development Agency (USTDA) have concluded arrangement to sign a 1.16 million dollar grant as part funding for the NNPC-Abuja Independent Power Project (IPP).

The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), says the current hike in price of cooking gas might persist if activities of Liquefied Petroleum Gas (LPG) Terminal Owners and Off Takers is not checked.

Oil rose on Thursday after industry data showed a surprise drop in U.S. crude inventories, while comments from an OPEC official about lower-than-expected U.S. shale production growth in 2020 also provided some support.

Oil prices fell on Wednesday as prospects for a trade deal between the United States and China faded, weighing on the outlook for the global economy and energy demand.

The Enugu Electricity Distribution Company has said that the 4,000 megawatts generated in Nigeria daily cannot meet the electricity needs of Nigerians.

Dividends paid from the profits of oil companies will no longer be tax-exempt if the finance bill submitted by President Muhammadu Buhari is passed by the national assembly.

Global oil demand growth is expected to slow from 2025 as fuel efficiency improves and the use of electrified vehicles increases but is unlikely to peak in the next two decades, the International Energy Agency said on Wednesday.

President of the Senate, Ahmad Lawan, on Tuesday, said government officials conniving with criminals involved in vandalising oil pipelines should be sanctioned and prosecuted if identified.

The President of the Senate, Sen. Ahmad Lawan, on Tuesday, said officials of government conniving with criminals involved in vandalising oil pipelines should be prosecuted if identified.

Petroleum Technology Development Fund (PTDF), in collaboration with the Federal Ministry of Justice, on Tuesday flagged off a workshop to train judicial officers and legal practitioners on emerging trends in oil and gas legislation.

The Supreme Court on Tuesday upheld its earlier judgment, ordering the Nigerian National Petroleum Corporation to pay $22.6 million (N8.1billion) in damages to BCE Consulting Engineers over a failed Consultancy Service Contract.

The Nigerian NLNG Limited has announced the arrival in Lagos of its vessel containing 12,000 metric tonnes of Liquefied Petroleum Gas, popularly known as cooking gas.

Oil prices rose on Tuesday, reversing early losses on hopes that U.S. President Donald Trump may signal progress on trade talks with China in a speech later in the day, Reuters reported.

Oman said on Monday that the Organisation of the Petroleum Exporting Countries (OPEC) and allied oil producers could extend a deal to limit crude supply but may not consider deepening cuts.

The Enugu Electricity Distribution Company (EEDC) has expressed its commitment at restoring electricity supply to some parts of Awka in Anambra State before the Christmas and New Year festivities.

The Chairman, Senate Committee on Local Content, Senator Teslim Folarin, says the Senate will invite the Nigeria LNG Limited to ensure compliance with local content laws in its 10 billion dollars Train 7 project.