Energy

TCN attracts $1.57 billion donors funding in two years

Transmission Company of Nigeria (TCN) says it has received a total of $1.57 billion as pledges from international donors to finance critical projects that will soon result in improved electricity transportation from generation to distribution companies

Oil marketers to shut down operations midnight

Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) directs its members to shut down all loading operations by midnight

Appeal court nullifies conviction of Shell chief, others

Court of Appeal in Port Harcourt sets aside Rivers High Court order which sentenced Shell managing director Osagie Okunbor, and two other senior officers to three months in prison for contempt

NNPC threatens court action over withdrawal of $1.05 billion

Nigerian National Petroleum Corporation (NNPC) threatens to seek legal interpretation on whether it has right to withdraw funds from Nigeria LNG Dividend Account without the approval of National Assembly

PENGASSAN, NUPENG wade into federal government, marketers’ N800 billion subsidy rift

PENGASSAN and NUPENG call for quick resolution of ongoing rift over unpaid fuel subsidy claims before it snowballs into huge crisis that will plunge Nigeria into catastrophic economic mess
Henry Ikem-Obih

NNPC fast-tracks agreements with bulk purchase marketers

Nigerian National Petroleum Corporation (NNPC) fast-tracks agreements with bulk purchase marketers in Nigeria

Ikotun electric shock: Our staff is alive – Ikeja Electric

Ikeja Electric says one of its technical staff that suffered electric shock while on duty in Ijegun/Ikotun area of Lagos is alive
Henry Ikem-Obih

Oil marketers to get N236 billion subsidy claims by Friday

Federal government says oil marketers would be paid N236 billion out of N348 billion approved by the National Assembly as outstanding subsidy claims on December 14

NUPENGASSAN: We’re not going on strike

The Oil workers unions have reassured the Federal government that its members would not go on strike over the threat of Depot owners to shut down services over issues on payment of outstanding subsidy claims.

Subsidy arrears: Federal government to pay oil marketers Friday

Ikem-Obih, said that while this first tranche will be paid, the balance of the subsidy debt will be cleared by the government in 2019 and 2020, after meeting with the marketers again.

Subsidy arrears: Oil marketers insist no agreement with federal government as ultimatum lapses on...

Oil marketers on Saturday said they did not reach any agreement with Federal Government on the N800 billion subsidy arrears, saying their ultimatum to cease depots operations on Monday remained unchanged.

Oil hits $62 as OPEC, allies agree to cut production

The Organisation of Petroleum Exporting Countries (OPEC) and its allies agreed yesterday to cut oil production by 1.2 million barrels per day, owing to a record global crude glut and the need to halt the price slump.
(LtoR) Russian Minister of Energy of Russia Alexander Novak, Organization of the Petroleum Exporting Countries’ (OPEC) President UAE Energy Minister Suhail al-Mazrouei and OPEC Secretary General Mohammed Sanusi Barkindo of Nigeria speak during a ministerial level meeting during with OPEC members and non members during the 175th OPEC Conference on December 7, 2018 in Vienna, Austria. (Photo by JOE KLAMAR / AFP)

OPEC cuts oil production by 1.2 million barrels to offset price

The Organisation of Petroleum Exporting Countries (OPEC) and other major oil producers yesterday agreed to cut about 1.2 million barrels of oil to address falling oil price, which is currently facing a record low of $63 a barrel.
Zainab Ahmed

Federal government, petroleum marketers ‘reach agreement’ on unpaid claims

The Federal Government says it has reached an agreement with petroleum marketers on the settlement of their outstanding claims.
Organisation of Petroleum Exporting Countries (OPEC) | Reuters

OPEC waiting for Russia before deciding how much oil to cut

The Organisation of the Petroleum Exporting Countries has made a planned cut in oil output effectively conditional on the contribution from non-OPEC producer Russia, delegates said on Thursday as the group gathered in Vienna for a meeting aimed at supporting battered oil prices.

Oil falls amid market slide ahead of OPEC meeting

Oil prices fell along with weak stock markets on Thursday, but trading was tepid ahead of a meeting by the Organisation of the Petroleum Exporting Countries (OPEC).

Federal government takes 10 billion barrels deep-water foreign investors’ chase to London

The Federal Government has taken the chase of foreign investors for 10 billion barrels deep-water oil resources in Nigeria to London, United Kingdom.

PENGASSAN warns against sales of refineries

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), yesterday warned that it will not accept the sales of the nation’s Four Refineries as been muted in certain quarters.

Recent Stories

A hairdresser styles the hair of a customer at a beauty salon in the northern Iraqi city of Mosul on October 30, 2018. – For three years, Mosul’s women were covered in black from head to toe and its men had to keep their beards long. Salons were shut, and plastic surgery considered a crime. Today, Mosul’s plastic surgeons and beauticians are at service. (Photo by Zaid AL-OBEIDI / AFP)

After shedding IS, Mosul embraces makeovers

For three years, Mosul’s women were covered in black from head to toe and its men had to keep their beards long. Salons were shut, and plastic surgery considered a crime.

PenCom urges pension contributors to update biometrics

The National Commission (PenCom), has advised contributors to update their records with the Pension Fund Administrators (PFAs) in a bid to ensure the smooth running of the Retired Savings Accounts (RSA).
Adeyemi Adetunji

Adeyemi Adetunji: NNPC subsidiary hits N1.8 billion profit in 2017

Mr Adeyemi Adetunji, Managing Director, Nigerian National Petroleum Corporation (NNPC) Retail, said the company made N1.8 billion profit after tax in 2017.

Jaap Stam backs Tottenham boss Mauricio Pochettino for Manchester United

Mauricio Pochettino is the right choice to become Manchester United's permanent manager and the club have the power to lure him from Tottenham, says Jaap Stam.
Crotone of Italy striker, Simeon Tochukwu Nwankwo (Simy)

Basel in talks to sign Crotone forward Simy Nwankwo

Switzerland club side FC Basel are reportedly in talks with Italian Serie B side Crotone for the services of Super Eagles world Cup striker Simy Tochukwu Nwankwo.