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Aramco posts $1.71 trillion in blockbuster IPO

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.

Protests erupt after Iran hikes petrol prices

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.
Nigerian National Petroleum Corporation (NNPC)

NNPC secures $1.16 million US grant for 1,350MW Abuja power plant

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).
TechnoGas cylinders manufactured by Techno Oil Group

Why hike in cooking gas price may persist – marketers

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 rises as data shows surprise drop in US crude inventories

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 falls as US-China trade deal prospects dim

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.

EEDC: 4,000 megawatts can’t meet electricity needs of over 200m Nigerians

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

Federal government to remove tax exemption on oil companies’ dividends

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.
US crude oil

IEA: Global oil demand growth to slow from 2025

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.

Senate wants NNPC to re-evaluate pipelines surveillance measures

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.
Senate President Ahmed Lawan

Senator Lawan: Officials conniving with pipeline vandals must be sanctioned, prosecuted

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)

PTDF, ministry collaborate on oil and gas legislation training

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.
Supreme Court of Nigeria

OPL 212: Supreme Court orders NNPC to pay N8.14 billion in damages to BCE

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.

NLNG: Cooking gas vessel now in Lagos, waiting to discharge

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 gain as market awaits signals on US-China trade talks

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.
Organisation of Petroleum Exporting Countries (OPEC) | Reuters

Oman: OPEC, allies likely to extend oil supply curbs

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.

Enugu Disco to restore electricity in Awka before Christmas

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.
Despite denying plans to embark on a mass retrenchment of its workers, the top management of the Nigerian Liquefied Natural Gas company, NLNG has met to ratify the list of no fewer than 120 employees to be eased out of the company soon, according to a report.

Senate to invite NLNG over $10 billion Train 7 project

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.

Recent Stories

Group urges southeast governors to fulfill electioneering promises

The Ndigbo Unity Forum (NUF), a pan-Igbo socio-political pressure group, has called on the South-East governor to fulfill their electioneering promises made to the people.

Yahaya Bello reelected as Kogi governor

The Independent National Electoral Commission (INEC) has declared incumbent Governor Yahaya Bello winner of the 2019 governorship election in Kogi state.
Supporters of the All Progressives Congress (APC) in Bayelsa State on Monday stormed major streets of Yenagoa, the state capital, to celebrate the victory of their party in Saturday’s election.

Jubilation in Bayelsa as APC supporters storm major roads

Supporters of the All Progressives Congress (APC) in Bayelsa State on Monday stormed major streets of Yenagoa, the state capital, to celebrate the victory of their party in Saturday’s election.
Kidnap Victim

Federal university begs abductors to release it kidnapped lecturer after three months

Barely three months after the abduction of a Lecturer with the Federal University Dutsin-Ma, FUDMA, in Katsina State, Abubakar Idris, the management of the university has appealed to the abductors to release its staff from his captivity.
Isoko people under the auspices of Isoko Ethnic Nationality Movement, IENM, weekend, described Deputy President of the Nigerian Senate, Senator Ovie Omo-Agege as God’s special gift to Deltans.

Bayelsa election: Senator Omo-Agege congratulates Governor-elect David Lyon

The Deputy President of the Senate, Ovie Omo-Agege, has congratulated the Bayelsa Governor-Elect, David Lyon on his victory in the Nov. 16 governorship election.