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.
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.
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.
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.
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.
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 slipped back a little in Asia on Monday, possibly with investors taking some cash off the table ahead of important US and European data.
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.”
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.
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.
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.
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.
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.
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.
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.
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.
YIAGA AFRICA, a civil society organisation (CSO), says there are indications that the results of the Bayelsa state gubernatorial election were manipulated.
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.
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%.
Speaking to reporters at the Presidential Wing of the Nnamdi Azikiwe International airport Abuja, President Buhari says he intends to work harder and be accountable to Nigerians.
Nigeria has pledged $300,000 (N108,450,000) donation to the unified South Sudan People’s Defence Forces (SSPDF), it was learnt yesterday. The support is towards ending the conflict in South Sudan.
Russia's Embassy to Washington says it has lodged a formal diplomatic protest after Israel extradited a Russian national to the United States, where he is suspected of stealing more than $20 million from U.S. consumers through credit card fraud.
Raheem Sterling has leapt to the defence of Joe Gomez after the Liverpool defender was booed by a number of England supporters on Thursday night.
The All Progressives Congress candidate in the Kogi West senatorial district re-run election, Smart Adeyemi, has defeated Dino Melaye of the Peoples Democratic Party in Ijumu local government.