Energy

Agencies agree on oil revenue management, governance

Key Nigerian agencies have agreed to partner in oil revenue savings and promotion of better attitude to public office.

IBEDC to distribute prepaid meters in Kwara soon

The Ibadan Electricity Distribution Company (IBEDC) says it will soon commence the free distribution of prepaid meters to electricity consumers in Kwara State.

Chevron wins multiple awards at SPE’s international conference, exhibition

Chevron Nigeria Limited on Wednesday lauded its team for winning multiple awards at this year’s Nigeria Annual International Conference and Exhibition (NAICE) of the Society of Petroleum Engineers (SPE) in Lagos.

States forfeit $250m NLNG dividends – NSIA

The Nigeria Sovereign Investment Authority, NSIA, yesterday, disclosed that the 36 states of the federation forfeited their share of the 2016 dividends of the Nigerian Liquefied Natural Gas, NLNG, for reinvestment purposes.

Power generation stagnates at 2,503gwh in Q2

Electricity generation statistics for second quarter (Q2) of 2017, showed a total average of 2,503 Giga watts hour (GWh) of energy was generated by power stations in Nigeria.

Chevron spends $2.5bn on Nigerian local content initiative

Chevron Nigeria Limited (CNL) said it spent $2.5 billion on local content development in Nigeria’s oil and gas sector, representing 65 per cent of the total Nigerian goods and services expenditures for the year.

Oil producers committed to output cut deal – OPEC

Global oil producers said Tuesday they remained committed to cutting output and stemming the collapse in oil prices, OPEC said.

Addax Petroleum confirms planned closure of 3 offices

The Addax Petroleum Company on Tuesday confirmed the proposed closure of its corporate offices in Geneva, Aberdeen and Houston in the United States of America.

Yenagoa residents laud DISCO over improved power supply

Some Yenagoa residents and business outfits have lauded the Port-Harcourt Electricity Distribution Company (PHEDC), for improved power supply in the area.

Nigeria requires N3.05 trillion to increase oil production – minister

The Nigeria’s oil and gas industry would require $10 billion (N3.05 trillion) over the next three years to increase crude oil production from 2.2 million barrels per day (bpd) to 3 million bpd.

NNPC owes oil firms N2 trillion in cash call – Baru

The Nigerian National Petroleum Corporation has put the cash call arrears owed oil companies for the development of joint venture assets at $6.6bn (N2.01tn).

NNPC targets $30bn earnings from diverse investments in 10 years

Dr. Baru commended the NNPC finance and technical teams for being able to attract the much needed foreign investment at a period when it has become increasingly difficult to attract foreign credit facilities.

Nigeria’s crude production stands at 2.35 million barrels per day – NNPC

The Nigerian National Petroleum Corporation, NNPC, said on Monday the nation’s current crude oil production had risen to 2.35 million barrels per day.

Nigeria lost $60bn to non-enforcement of PSCs with Oil majors – Kachikwu

The Minister of State for Petroleum Resources, Emmanuel Ibe Kachikwu, says Nigeria has lost about $60 billion to the non-enforcement of the terms of the Production Sharing Contracts signed between the federal government and the international oil companies.

Nigeria needs meters to account for daily oil production – Sen. Oduah

A lawmaker, Sen. Stella Oduah, has urged Nigeria National Petroleum Corporation to put an adequate metering system in place to enable Nigerians to know the country’s exact daily oil production.

Power generation drops by 1,835.6MW in 3 days

The total quantum of electricity on the nation’s power grid crashed by 1,835.6 megawatts within a period of three days.

Manufacturers spent N129.95bn on power in 2016 – report

The instability in electricity supply from the national grid has continued to make businesses to look inwards through independent power generation, a new report has said.

N110bn debt: Skye Bank seeks to take over Omokore’s oil wells

The management of Skye Bank Plc is seeking to take over some oil wells belonging to Jide Omokore, a businessman involved in some corruption cases within and outside Nigeria saying Omokore is indebted to it to the tune of about N110bn at an exchange rate of $1/N315.

Recent Stories

The Super Falcons on Wednesday boosted Nigeria’s chances of qualifying for the next round in the ongoing FIFA Women World Cup in France with a 2-0 victory over South Korea. 42

Thomas Dennerby: Super Falcons have chance against France

Super Falcons head coach Thomas Dennerby is confident his side will produce a good performance in today’s 2019 Women’s World Cup Group A clash against hosts France at the Roazhon Park, Rennes.
Justice Marshal Umukoro, Chief Judge, Delta State.

Delta CJ seeks drastic moves against get-rich-quick syndrome, kidnapping

The Delta State Chief Judge, Justice Marshal Umukoro has called for a state of emergency against the get-rich-quick syndrome and kidnapping for ransom.

NAF: Boko Haram’s hideout in Sambisa degraded

Director of Public Relations and Information of the Nigerian Air Force (NAF), Air Commodore Ibikunle Daramola, has disclosed, in a statement on Monday in Abuja, that the Air Tas Force (ATF) of Operation LAFIYA DOLE degraded another Boko Haram terrorists’ hideout in the Sambisa forest of Borno State.

Babagana Kingibe: Real reason I joined General Abacha’s government

Babagana Kingibe, Chief MKO Abiola’s running mate in 1993 presidential election, has explained why he abandoned the mandate given to them following the election’s annulment and joined late Gen. Sani Abacha’s government to become a three-time minister under that administration.

One soldier, two NSCDC operatives killed by suspected vandals in Rivers

Suspected vandals on Sunday attacked and killed one soldier and two officials of the Nigerian Security and Civil Defence Corps, NSCDC, guarding Shell Petroleum facilities at Gio Community in Tai Local Government Area of Rivers State.