Energy

President Muhammadu Buhari Monday in London signed the amended Deep Offshore Act.

PDP senator hails President Buhari for signing PSC amendment bill into law

Chairman, Senate Committee on Petroleum Resources, Upstream, Senator Bassey Albert Akpan, Peoples Democratic Party, PDP, Akwa Ibom North East, has hailed President Muhammadu Buhari for signing the Deep Offshore and Inland Basin Production Sharing Contract Amendment Act into law.
Organisation of Petroleum Exporting Countries (OPEC) | Reuters

OPEC: Oil demand to fall in the West, but not in India, China

Oil demand in highly industrialised countries will shift from slight growth to a decline after 2020, while India and China will ensure that global oil consumption will grow over the next decades, an official said.
President Muhammadu Buhari in his goodwill message to the Esogban by the Senior Special Assistant on Media and Publicity, Mallam Garba Shehu, joined members of Edebiri family, friends and well-wishes in celebrating an important and respected son of Bini Kingdom’s rich culture and heritage.

Nuhu Ribadu: No oil billionaire since President Buhari became petroleum minister

Malam Nuhu Ribadu, pioneer chairman of the Economic and Financial Crimes Commission (EFCC), says no one has become an oil billionaire since President Muhammadu Buhari became minister of petroleum.
President Muhammadu Buhari Monday in London signed the amended Deep Offshore Act.

President Buhari signs amended deep offshore act

“Today I signed into law the amended Deep Offshore Act. Nigeria will now receive its fair, rightful and equitable share of income from our own natural resources for the first time since 2003.”

Official: Mainstream to expand Kainji hydro by 240MW

The Managing Director of Mainstream Energy Solutions Ltd, MESL, Engr. Lamu Audu, has said the company would expand power generation at Kainji Hydro plant by 240 megawatts in order to sell energy to West African region.
Minister of State for Petroleum Resources, Chief Timipre Sylva, Group Managing Director of the Nigerian National Petroleum Corporation, Mallam Mele Kyari and the President of Dangote Refinery and Petrochemicals Plant, Mr. Aliko Dangote conducting the Federal Government delegation round the 650,000 barrels per day biggest refinery in Lagos.. on Sunday

Federal government plans 200,000 bpd condensate refineries

Nigerians may bid fuel scarcity farewell if the Federal Government’s plan to build two 200,000 barrels per day (bpd) condensate refineries comes to fruition.
Minister of State for Petroleum Resources, Chief Timipre Sylva, Group Managing Director of the Nigerian National Petroleum Corporation, Mallam Mele Kyari and the President of Dangote Refinery and Petrochemicals Plant, Mr. Aliko Dangote conducting the Federal Government delegation round the 650,000 barrels per day biggest refinery in Lagos.. on Sunday

Federal government to support Dangote Refinery with feedstock, others

The Federal Government has pledged to support the 650,000 barrels per day capacity Dangote Refinery and Petrochemicals Plant with crude oil feedstock and other necessary inputs to the success of the project.

Crude oil prices see some profit taking as US, European data approach

Crude oil prices slipped back a little in Asia on Monday, possibly with investors taking some cash off the table ahead of important US and European data.

Innoson, Shell sign deal for supply of operational vehicles

Nigeria’s passenger cars and light commercial vehicles manufacturer, Innoson Vehicle Manufacturing Co. Ltd (IVM), has signed a Contract Purchase Agreement with Shell Nigeria Gas Ltd for the production and supply of its vehicles to the latter, “for its official and operational uses.”
Seplat Petroleum Development Company

IOCs, Seplat, others to meet gas needs

International Oil Companies (IOCs), Seplat and other local players in the industry, will soon meet on the need to expand the domestic gas market and further make the product available to thermal plants across the country, it was gathered in Lagos.

KAEDCO: Zamfara electricity consumers owe N50 billion

The Kaduna Electricity Distribution Company says it is being owed over N50bn by consumers in Zamfara.
The Federal Government has reiterated its support for the $12bn Dangote Refinery and Petrochemical through feedstocks and off-takers of products to add value to the nation’s economy. Mr Timipre Sylva, the Minister of State for Petroleum Resources, made this known during the tour of the refinery project in Lagos on Sunday. Dangote Refinery is situated at Lekki Free Trade Zone in Ibeju Lekki, Lagos. The minister was accompanied by Mr Mele Kyari, the Group Managing Director, Nigerian National Petroleum Corporation (NNPC); Mr Shakur Rufai, Acting Director, Department of Petroleum Resources (DPR) and all Heads of NNPC subsidiaries.

Federal government pledges to support Dangote refinery

The Federal Government has reiterated its support for the $12bn Dangote Refinery and Petrochemical through feedstocks and off-takers of products to add value to the nation’s economy.

Expert hails federal government’s refinery deal with Russia

An oil industry expert and senatorial aspirant in the last general election in Abia state, Mr Chinedu Onyeizu, has commended the Federal Government for signing a government backed partnership with Russia to revamp the nation’s refinery.

Aramco announces plans for giant stock market debut

Saudi Aramco said Sunday it will list on the Riyadh stock exchange in what could be the world’s largest IPO, underpinning Crown Prince Mohammed bin Salman’s ambitions to overhaul the kingdom’s oil-reliant economy.
Power returned to much of Argentina and two neighboring countries following a massive blackout that left tens of millions in the dark on Sunday.

TCN: $1.66 billion from international donors increases power generation

The Managing Director of Transmission Company of Nigeria (TCN), Alhaji Usman Mohammed, said that the 1.66 billion dollars received from international donors increased generation capacity in the country.

NNPC: 14 companies bid for OML 119 redevelopment financing

The Nigerian National Petroleum Corporation (NNPC) says it has publicly opened bids from 14 companies for the financing and redevelopment of Oil Mining Lease (OML) 119.

Oando’s chairman, secretary, general manager receive prestigious recognitions

In addition to recording a profit in its Q3 financials in Ocotober, Oando’s management has received recognition from various reputable institutions in the country.

Godwin Emefiele: Crude oil can never rise above $100 per barrel in our lifetime

Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, on Friday said that there was no better time to diversify the Nigerian economy than now because the era of crude oil boom was over and that the commodity can never rise above $100 a barrel anymore as Was the case few years ago.

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Senator Lokpobiri: Bayelsa has shown willingness to change destiny

Former Minister of State for Agriculture and Rural Development, Senator Heineken Lokpobiri, has commended the people of Bayelsa State for changing their destiny by voting the All Progressives Congress (APC) in the Saturday election.
The Independent National Electoral Commission has relocated the collation of results of Bayelsa State governorship election in Nembe, Southern Ijaw Local Government Areas to its headquarters in Yenagoa under heavy security.

YIAGA: Bayelsa election results were manipulated

YIAGA AFRICA, a civil society organisation (CSO), says there are indications that the results of the Bayelsa state gubernatorial election were manipulated.
A member of Manchester United's backroom team has been taken to hospital after falling ill, the club have confirmed.

Lack of Champions League begins to hit Manchester United finances

Manchester United’s failure to qualify for the Champions League is beginning to erode the club’s finances, but increased commercial income helped the English giants post revenues of £135.4 million ($174 million) for the first quarter of the 2019-2020 season on Monday.
Justice Bolanle Okikiolu-Ighile of the Lagos High Court, Igbosere on Monday, November 18, granted the application of a Dane, Peter Nielsen, accused of killing his wife and daughter, to revisit the scene of the crime which was sealed off after the incident last year.

Dane to revisit crime scene of wife’s, daughter’s murder

Justice Bolanle Okikiolu-Ighile of the Lagos High Court, Igbosere on Monday, November 18, granted the application of a Dane, Peter Nielsen, accused of killing his wife and daughter, to revisit the scene of the crime which was sealed off after the incident last year.
Retired Col. Hameed Ali, Comptroller-General of Nigeria Customs Service (NCS), on Thursday said the closure of Nigeria’s borders by Federal Government was undertaken to strengthen the nation’s security and protect its economic interests.

Customs proposes 5% levy slash on imported vehicles

Cost of used and new imported vehicles is set to drop if the Ministry of Finance approves the proposal of the Nigeria Customs Service (NCS) which recommended a reduction of the levy from 35% to 5 or 10%.