Energy

Oil edges up as market eyes tighter supply

Oil prices edged up on Tuesday buoyed by expectations of tightening global supply due to U.S. sanctions on Venezuela and production cuts led by OPEC.

Oil: OPEC-led supply cuts, sanctions against Venezuela keep prices steady

Oil prices were stable on Monday, largely maintaining gains from the previous session as OPEC-led supply cuts and U.S. sanctions against Venezuela provided the market with support.
President Muhammadu Buhari has directed the Nigerian National Petroleum Corporation to extend its exploration to six basins in the country.

President Buhari urges IPMAN to join forces with federal government, fish out oil smugglers

President Muhamamdu Buhari has urged members of the Independent Petroleum Marketers Association of Nigeria (IPMAN), to join forces with the Federal government and fish out oil smugglers.

SERAP sues minister over rogue electricity contractors

Socio-Economic Rights and Accountability Project (SERAP) has sued the Minister of Power, Works and Housing Mr Babatunde Fashola to force him to disclose the contractors who collected huge money for electricity projects from 1999 till present, but did nothing.
President Muhammadu Buhari has directed the Nigerian National Petroleum Corporation to extend its exploration to six basins in the country.

Buhari directs NNPC to extend exploration to six basins in the country

President Muhammadu Buhari has directed the Nigerian National Petroleum Corporation to extend its exploration to six basins in the country.
President Buhari visits the Train the Trainer Course organised by the Election Planning and Monitoring directorate of the APC Presidential Campaign Council in Abuja on 28th Jan 2019-4

President Buhari flags off crude oil exploration in Bauchi

President Muhammadu Buhari on Friday flagged-off the official commencement of crude oil search in the Kolmani Well River-II, located near Barambu, Alkaleri Local Government Area of Bauchi State.

TCN records 1,811.3 MW increase, transmits 127,157.7 MW in January

The Federal Government recorded an increase of 1,811.3 megawatts (MW) in power generation in January 2019, as the Transmission Company of Nigeria (TCN) transmitted 127,157.7 mw as against 125,346.4mw in December 2018.

Local content: Federal government launches ‘Project 100’ to empower local firms

The Federal Government on Thursday launched a new programme, tagged ‘Project 100’, to promote 100 indigenous entrepreneurs in the oil and gas sub-sector of the economy.
Manufacturers Association of Nigeria (MAN)

MAN: Manufacturers spent N246 billion on fuelling generators in two years

Against the backdrop of the worsening public power supply, new data have emerged showing that manufacturers in Nigeria spent a total of N246.38bn generating their own electricity between 2016 and 2017.

Federal government to support expansion of 60 indigenous energy firms

The federal government has expressed its preparedness to support 100 indigenous oil and gas companies operating in Nigeria to overcome their existing market challenges and grow to become big energy conglomerates.

Shell profit soars to $23 bn in 2018

Energy giant Royal Dutch Shell on Thursday said its net profit surged 80 percent to $23.4 billion in 2018, thanks to higher oil prices and cost cuts.

Oando employees kick start 2019 by donating relief materials to flood victims in Niger...

Employees of Oando PLC kicked-off the year by putting smiles on the faces of thousands of people, who were affected by the 2018 floods in Rivers and Bayelsa State, a feat worthy of note and emulation.

Oil prices soar as Saudi Arabia cuts US supply

Oil prices rose for a third day on Thursday pushed up by lower imports into the United States amid OPEC efforts to tighten the market as well as Venezuela struggles to keep up its crude exports after Washington imposed sanctions on the nation.

Federal government targets $2 billion from oil, gas lease licence renewal

The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, has said the government is targeting about two billion dollars from the oil and gas lease licences renewal.

Ibe Kachikwu: Vessels carrying Nigerian crude are tracked by the EFCC

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said that the Federal Government through the Economic and Financial Crimes Commission (EFCC) has started racking every barrel of crude oil produced and exported out of Nigeria.

NNPC: Nigeria’s refineries not too old

The Nigerian National Petroleum Corporation (NNPC) says the country’s refineries are not too old for effective refining operations.

Court bars Total Nigeria Plc from evicting company from Lube

A Lagos High Court has restrained Total Nigeria Plc from evicting, dislodging or evacuating Automatic Fits and Energy Nigeria Ltd and Segmat Springs Ltd from Total Plc Lube Bays assigned to them.
President Buhari visits the Train the Trainer Course organised by the Election Planning and Monitoring directorate of the APC Presidential Campaign Council in Abuja on 28th Jan 2019-6

President Buhari commissions 9.5mw plant to end power shortage in Ariaria market

President Muhammadu Buhari Tuesday commissioned a 9.5 megawatts (MW) capacity off grid gas-fuelled power system built by a private consortium under the Energising Economies Initiative (EEI) of the Rural Electrification Agency (REA) to supply electricity to up to 47,000 shops and small businesses operating at the Ariaria International Market in Aba, Abia State.

Recent Stories

Hundreds of demonstrators, in defiance of a ban of protests, rallied in the Algerian capital against a bid by ailing President Abdelaziz Bouteflika for a fifth term in office.

Algerians protest against President Bouteflika’s bid for fifth term

Hundreds of demonstrators, in defiance of a ban of protests, rallied in the Algerian capital against a bid by ailing President Abdelaziz Bouteflika for a fifth term in office.

Elections: Rivers APC kicks as INEC chairman claims every judgment has been obeyed

The Director of Strategic Communications for the All Progressives Congress (APC) governorship candidate in Rivers State, Tonye Cole, Prince Tonye Princewill, has expressed dissatisfaction with the Chairman, Independent National Electoral Commission (INEC), Prof. Yakubu Mahmood, over the claim that all court judgments have been obeyed by the electoral umpire as regards the state.

Elections: Police summon APC Reps member over Kano violence

The police in Kano on Friday ‘invited’ a member of the House of Representatives, Abdulmumin Jibrin, over his alleged role in a bloody clash between members of the PDP and APC in Bebeji Local Government Area.

Elections: Liberia’s Ellen Sirleaf urges politicians to maintain peace, adhere to rule of law

Head of the ECOWAS Election Observetion Mission (EOM), former Liberia’s President, Ellen Johnson-Sirleaf, has urged Nigerians, particularly the political class, to sustain the peace that characterised the postponement of the Presidential and National Assembly elections and also conduct themselves according to the laws of the land as they go to the polls Saturday.

Policeman, thugs arrested for branding private vehicles in police colours

An unidentified police inspector was arrested on Thursday at a hotel in Ewet Housing Estate for aiding some people to brand two private vehicles in police colour.