Energy

SCD Group wins $10 billion NLNG Train 7 project

The Nigerian Liquefied Natural Gas Company on Wednesday announced the SCD Group as preferred bidder for the $10bn NLNG Train 7 project.
Nigerian National Petroleum Corporation (NNPC)

Fire guts Ibadan NNPC depot

Fire on Wednesday gutted the Apata Ibadan depot of the Nigeria National Petroleum Corporation.

MOSOP: Shell no longer acceptable to the Ogoni people

The Movement for the Survival of the Ogoni People (MOSOP) has declared that the Shell Petroleum Development Company of Nigeria Limited (SPDC) is no longer an acceptable company in Ogoniland.

NLNG selects Saipem, Daewoo, Chiyoda to build $7 billion Train-7

The Nigerian Liquefied Natural Gas (NLNG) Limited has selected a consortia comprising the Italian Saipem, South Korean Daewoo Engineering, and Japanese Chiyoda to build its $7 billion Train-7 LNG expansion plant.
An OPEC branded flag sits on a table ahead of the 169th Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria. | Akos Stiller | Bloomberg via Getty Images

OPEC urges further production restraint

The OPEC oil cartel urged continued production restraint Wednesday, saying output gains are still expected to outpace growth in demand for oil.

Central bank makes DisCos’ remittance condition for N600 billion disbursement

The Central Bank of Nigeria (CBN) has warned would-be beneficiaries of the N600billion power sector intervention fund that the disbursement of the fund will be based on the accountability system of distribution companies (DisCos) which is driven by their performance through revenue remittance.
The Minister of State for Petroleum Resources, Timipre Sylva, says Nigeria must bring down the cost of production of its crude oil as the country is currently a laughing stock in the way it runs business in the oil and gas sector.

Federal government committed to resolving challenge in power sector – minister

The Federal Government is committed to resolving the challenges facing the power sector and ensure improved power supply to Nigerians.

Shell loses N73 billion yearly to oil thieves

Shell Petroleum Development Company of Nigeria (SPDC) Joint Venture says it loses about N202 million daily in revenue to activities of criminals in the Niger Delta. This translates to a yearly loss of N73.7billion.
Organisation of Petroleum Exporting Countries (OPEC) | Reuters

Oil hits six-week high on hopes of extended OPEC cuts

Oil futures hit a six-week high on Tuesday, rising for a fifth day on optimism that OPEC and other countries may agree to extend production cuts in a bid to support prices.

FSDH: Fuel subsidy unsustainable

The Chief Executive officer of FSDH Merchant Bank Limited, Hamda Ambah, has said the government must provide palliative measures for the masses to guarantee the success of the deregulation of the downstream oil and gas sector, which will lead to the removal of fuel subsidy.

Shell loses N202 million daily to vandals, oil thieves – official

Shell Petroleum Development Company of Nigeria (SPDC) Joint Venture says it loses about N202 million daily in revenue to activities of criminals in the Niger Delta.
The Department of Petroleum Resources (DPR) has sealed a filling station in Katsina State, north-western Nigeria.

DPR seals 13 petrol stations, seven gas refill outlets in Nasarawa

The Department of Petroleum Resources (DPR) in Nasarawa State has sealed 13 petrol stations and seven Liquefied Petroleum Gas (LPG) refilling outlets for violating operational guidelines.
The Ibadan Electricity Distribution Company, IBEDC, has appealed to its customers to go through the proper channel and avoid fraudulent activities in meter collection.

Benin Disco chief blames high cost of prepaid metres on Customs

The Managing Director/Chief Executive Officer of the Benin Electricity Development Company, BEDC, Mrs. Funke Osibodu, has blamed the cost of prepaid metres on Customs import duty Customs, saying the company has put machinery in place with a list of innovations geared towards customers’ satisfaction, and arresting underperformance, high cost of new prepaid meters.
The Department of Petroleum Resources (DPR) has sealed 30 fillings stations in Cross River for selling petrol above the approved price of N145 per litre and other offences.

DPR seals 13 filling stations, 7 gas refilling outlets in Nasarawa

The Department of Petroleum Resources (DPR) has sealed 13 Petrol stations and 7 LPG (gas) refilling outlets across Nasarawa state for contravening operational standards.
Saudi's Prince Abdulaziz bin Salman Al Saud

Oil rises as Saudi signals OPEC cuts to continue under new minister

Oil rose on Monday on expectations that Saudi Arabia, the world’s largest oil exporter, will continue to support output cuts by OPEC and other producers to prop up prices under new Energy Minister, Abdulaziz bin Salman.
The Ibadan Electricity Distribution Company, IBEDC, has appealed to its customers to go through the proper channel and avoid fraudulent activities in meter collection.

BEDC to kick off metering in Asaba, Warri

The Benin Electricity Distribution Company has announced the immediate start of the metering process for residents of Asaba and Warri environs in Delta State.
Nigerian National Petroleum Corporation (NNPC)

Official: How NNPC secured positive judgement against ESSO, Shell in US

A U.S. Southern District Court of New York has delivered judgment in favour of the Nigerian National Petroleum Corporation (NNPC) against ESSO Exploration and Production Nigeria Limited and Shell Nigerian Exploration and Production Company Limited (collectively ESSO).
President Muhammadu Buhari has appointed Mr. Mele Kolo Kyari as the new Group Managing Director of the Nigerian National Petroleum Corporation (NNPC).

US court discharges NNPC in $2.7 billion litigation

The United States Southern District Court of New York delivered a landmark judgment in favour of the Nigerian National Petroleum Corporation (NNPC) against ESSO Exploration and Production Nigeria Limited and Shell Nigerian Exploration and Production Company Limited (Collectively, “ESSO”) over the weekend.

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Ousted emir emerges Zamfara PDP deputy chairman

Former Emir of Bakura in Zamfara, Alhaji Hassan Marafa has emerged as the Deputy Chairman of the state chapter of the Peoples Democratic Party (PDP).
Seyi Makinde

Tribunal verdict triumph of truth over falsehood – Oyo governor

Oyo State Governor, Mr Seyi Makinde, has described his victory at the Governorship Election Petitions Tribunal as the triumph of truth over falsehood.
Google employees are holding a sit-in at offices around the world to protest alleged retaliation against workers.

Google to unveils new Pixel phone October 15

Google on Monday sent out invitations to an October 15 event starring “things Made by Google,” with a new Pixel smartphone expected in the line-up.

Reps: 1,723 contractors received N70 billion without mobilising to site

The House of Representatives ad hoc committee on abandoned Projects in Niger Delta has discovered that a total of 1,723 contractors had collected a total of N70.495 billion without mobilising to the site.

Gary Neville brands Paul Pogba’s agent Mino Raiola a ‘disgrace’

Gary Neville has branded Manchester United midfielder Paul Pogba’s agent Mino Raiola a disgrace and urged his former club to no longer negotiate with the Italian.