Energy

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.

Power plants to generate additional 1,129 mega watts in 2018 – Babatunde Fashola

The Federal Government on Monday announced that when some power generation projects were completed by 2018,they could generate additional 1,129 Mega Watts to the current 7,000 Mega Watts in the country.

Oando drags SEC to appeal court

Oando Plc has headed for the Court of Appeal in its bid to lift the technical suspension imposed on its shares on the floor of the Nigerian stock market by the Securities and Exchange Commission.

Federal govt earned $7 billion from Addax Petroleum since 2009 – firm

Addax Petroleum Development (Nigeria) Limited, which operates Production Sharing Contract (PSC) with the Nigerian National Petroleum Corporation (NNPC) PSC has produced 425 million barrels of crude oil and generated over $7 billion in revenue to the Nigerian government since 2009 when SINOPEC took over the company.

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The Buhari Media Organisation (BMO) has advised former Vice President Atiku Abubakar and the Peoples’ Democratic Party (PDP) presidential candidate in the Feb. 23 election to come to terms with his loss at the election.

Tribunal: Witness faults results of presidential election claimed by Atiku Ababakar, PDP

A witness invited by the petitioners before the Presidential Election Petition Tribunal (PEPT) has disagreed with the results of the last presidential election in Katsina State as claimed by the Peoples Democratic Party (PDP) and its candidate in the last presidential election, Atiku Abubakar.
Barcelona have agreed to sell left-back Marc Cucurella to Getafe just a day after they brought him back from Eibar.

Barcelona sell Marc Cucurella to Getafe just hours after re-signing him from Eibar

Barcelona have agreed to sell left-back Marc Cucurella to Getafe just a day after they brought him back from Eibar.
Nasir El-Rufai

Governor El-Rufai seeks assembly’s approval of N81.68 billion supplementary budget

The Kaduna State House of Assembly has began deliberations on the N81.68 billion supplementary budget forwarded to it by Gov. Nasiru El-Rufai.

Operation Lafiya Dole gets new commander as Naf redeploys senior officers in fresh shakeup

The Nigerian Air Force (NAF) has appointed new Branch Chiefs, redeployed two Air Officers Commanding (AOCs) and other senior officers.

Joaquin ‘El Chapo’ Guzman sentenced to life in prison

The Mexican drug kingpin Joaquin “El Chapo” Guzman has been sentenced to life behind bars in a U.S. prison, a humbling end for a drug lord once notorious for his ability to kill, bribe or tunnel his way out of trouble.