Energy

Arewa CF urges federal govt to punish culprits of fuel scarcity

Arewa leaders have condemned the fuel scarcity experienced across the country, urging the management of NNPC to investigate the cause and punish the culprits.

Nigeria lost N7.6 trillion to faulty pacts with oil coys – Ibe Kachikwu

Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, yesterday disclosed that Nigeria lost about $21billion (N7.6 trillion) to International Oil Companies (IOCs) operating in the country as a result of non-implementation of the Production Sharing Contract (PSC) Act of 1993.

NUPENG assures of regular supply of petrol during Yuletide

The Nigeria Union of Petroleum and Natural Gas Workers on Wednesday assured motorists of regular supply of petroleum products to filling stations during the Yuletide and beyond.

Five ships with 250m litres of petrol expected this week – NNPC

The NNPC also stated that its subsidiary company in charge of its downstream petroleum businesses, the Nigerian Products Marketing Company (NPMC), has increased the number of petrol trucks that leave its depots across the country with petrol to 1,300 per day.

Federal govt moves to amend deep offshore act

The Deep Offshore and Inland Basins PSC Act was enacted in 1993 to provide the fiscal framework for foreign investments in deep offshore and inland basin acreages in the oil and gas sector.

NUPENG assures of regular supply of petrol during Yuletide

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) on Wednesday assured motorists of regular supply of petroleum products to filling stations during the Yuletide and beyond.

Motorists lament as fuel scarcity bites hard in Kano

Motorists and commuters in the ancient city of Kano are now experiencing untold hardship, following the acute fuel scarcity.

Oil market to balance within a year – OPEC

Supply and demand in the global oil market are likely to balance out by the end of 2018 thanks to a pick-up in demand, notably from the transport sector, OPEC said on Wednesday.

Motorists spend night at Jos filling stations

Many motorists spent the night on queue for petrol at filling stations in Jos as the fuel scarcity bites harder in the Plateau State capital.

World Bank proposes $1 billion for federal govt’s power reform

The World Bank has its renewed commitment to support the Federal Government’s Power Sector Recovery Programme (PSRP), with a proposed $1 billion Performance Based Loan (PBL).

We’ll give priority to renewable energy – Minister

Minister of Science and Technology, Dr Ogbonnaya Onu, has said that the Federal Government will give priority to renewable energy so as to improve the living standards of Nigerians.

Consumers flay NNPC as fuel queues persist in Abuja

While fuel scarcity seems to have eased in some cities across the country, fuel consumers in Abuja have decried the persistent long queues in the Federal Capital Territory, accusing the Nigerian National Petroleum Corporation (NNPC) of irrational distribution of products.

Concessionaire injects N9.6 billion to overhaul 80mw Kainji power turbine

Concessionaire of Kainji and Jebba Hydro Electric plants, Mainstream Energy Solutions Limited (MESL), has injected a fresh $26 million (about N9.360 billion) into the Kainji Hydro Power Plant to rehabilitate its Hydro Turbine Generator unit 1 G 7.

Unfazed by OPEC, Libya, Nigeria seek to boost oil output in 2018

Less than two weeks after OPEC’s decision to extend oil production cuts, Libya and Nigeria, are signaling their intent to raise output in 2018.

Petroleum marketers to establish refinery, oil tank field

In a bold move to halt frequent scarcity of petroleum products in the country, the Independent Petroleum Marketers’ Association of Nigeria (IPMAN), may have concluded plans to establish its own refinery and oil tank field in the country.

Electricity generation hits 7,000mw, but 2,000mw idle

Nigeria’s electricity generation has hit 7,000 megawatts, the highest in the history of Nigeria, but a large proportion of the generation is idle.

Addax/NNPC to invest $3.5bn in onshore, offshore operations

Addax Petroleum Development Limited, in collaboration with the Nigeria National Petroleum Corporation, NNPC, plans to investment about $3-5 billion to optimize its operations in Nigeria and increase production from its existing assets, both onshore and offshore, part of which includes its current drilling activities in the Njaba field in the oil mining lease, OML 124.

Oil price jumps above $65

Brent crude oil prices jumped above $65 per barrel after the shutdown of the Forties North Sea pipeline knocked out significant supplies from a market that was already tightening due to OPEC-led production cuts.

Recent Stories

National Bureau of Statistics NBS

NBS: India largest export market for Nigeria in Q1 2019

The National Bureau of Statistics (NBS), said India was the largest export market for Nigeria in the first quarter (Q1) of 2019 with a net worth of N744.9 billion.
The Nigerian Civil Aviation Authority (NCAA) says it has begun full-scale investigation to ascertain the viral video of the helicopter that landed on the Benin-Ore Expressway on Sunday.

NCAA investigates helicopter’s landing on Benin-Ore highway

The Nigerian Civil Aviation Authority (NCAA) says it has begun full-scale investigation to ascertain the viral video of the helicopter that landed on the Benin-Ore Expressway on Sunday.

Military arrests 14 suspected killers of former CDS Alex Badeh

Detectives from the Defence Headquarters, (DHQ) Abuja, and the Department of State Services (DSS) have arrested 14 suspects in connection with the murder of the former Chief of Defence Staff, Air Chief Marshal Alex Badeh.
Desmond Afoah, a popular YouTube personality known as Etika who created Nintendo-centric videos, was found dead, the New York Police Department said today.

Popular YouTuber Desmond Afoah found dead

Desmond Afoah, a popular YouTube personality known as Etika who created Nintendo-centric videos, was found dead, the New York Police Department said today.
Senate President Ahmad Lawan presiding over the second plenary of the 9th Senate having been inaugurated on Tuesday, the 11th Of June, 20197

Senate President: No jumbo salary for National Assembly members

The President of the Senate, Dr. Ahmad Lawan, has said that there was nothing like jumbo salary for National Assembly members as being speculated in some quarters.