Energy

Oil climbs to $53 as Saudi Arabia promises further cuts

Oil prices rose on Thursday lifted by a sustained decline in inventories and Saudi Arabia’s preparedness to cut crude supplies to its prized Asian customers.

DISCO disrtributes150,000 pre-paid meters free

The Port Harcourt Electricity Distribution Company (PHED) said it was currently distributing pre-paid meters free of charge to consumers in Akwa Ibom, Bayelsa, Cross River and Rivers.

Nigeria needs stable power to revive economy – lawyer

Nigeria needs stable and uninterrupted power supply to get out of its current economic challenges, an Ilorin-based legal practitioner, Mr. Kehinde Adekunle has said.

NNPC warns job seekers of recruitment scam

The Nigerian National Petroleum Corporation has again announced that it never inaugurated a recruitment campaign of any kind, as it warned job seekers to avoid being scammed.

Nigeria has lost N11trn to power sector corruption – Don

Nigeria has lost a whooping N11 trillion to corruption in the power sector since 1999, a university lecturer, Dr Yemi Oke, said on Wednesday in Lagos.

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.

Recent Stories

Nigerian Stock Exchange NSE

NSE drops to 27,000 mark, amid Seplat losses

The All-Share Index of the Nigerian Stock Exchange (NSE) on Thursday reached all time low of 27,864.49 due to sell pressure in Seplat and 18 other equities.
The trio of Shehu Abdullahi, Jamilu Collins and Samuel Kalu could miss Super Eagles next Total Africa Cup of Nations Group B clash against Guinea at Alexandria Stadium on Wednesday afternoon.

Afcon 2021: Qualifiers draw pairs Nigeria with Sierra Leone, Lesotho and Benin

Nigeria have been pooled against Sierra Leone, Lesotho and Benin Republic in Group L of the 2021 Africa Cup of Nations billed for Cameroon.

Governor Umahi swears in 29-year-old photographer as media aide

The Ebonyi State Governor David Nweze Umahi has sworn in a 29-year-old photographer, Francis Nwaze, into his cabinet as his special Assistance on media/project documentation.

Delta court sentences man to death by hanging for armed robbery

A Delta State High Court sitting in Warri Judicial Division presided over Justice A.A. Onojovwo, has sentenced one Victor Nwankpa to death by hanging for armed robbery.
Imam Abubakar Abdullahi, right, when he earned the Ahmadu Bello Merit award earlier this year

President Buhari urges religious leaders emulate Imam Abdullahi after US honour

President Muhammadu Buhari has expressed delight over the International Religious Freedom Award conferred on Imam Abubakar Abdullahi of Nigeria by the U.S. Department of State.