Dangote refinery to gulp N1.7tn crude monthly – Report
President Bola Tinubu has mandated the Nigerian National Petroleum Company (NNPC) to sell crude oil to the Dangote Petroleum Refinery…
Category: Energy
Monthly power subsidy soars by 151% to N211bn
The Federal Government’s electricity subsidy rose from N252.76bn to N633.30bn in the first quarter of 2024, according to the Nigerian…
Seplat Posts N244bn Half Year Pre-Tax Profit
Seplat Energy Plc announced a staggering 461% increase in pre-tax profit for the half-year ending June 30, 2024, reaching N244…
Nigeria’s spending on jet fuel importation falls 87% to N31bn
Nigeria’s spending on jet fuel fell sharply by 87% in the first quarter of 2024, dropping to N31 billion from…
Power sector strained as Togo, Benin, others owe Nigeria $14.19m for electricity exported in Q1
The Nigerian Electricity Regulatory Commission (NERC) reported that none of the four international bilateral electric power customers made payments towards…
US refiners’ Q2 profits fall on low margins, soft fuel demand
U.S. oil refiners are set to report significantly lower earnings for the second quarter compared to last year, following a…
Energy stakeholders brainstorm on midstream, downstream devpt at SPE-NAICE 2024
Professionals and key players in the energy sector will gather at the SPE-NAICE 2024 event to explore advancements in the…
Chappal Energies acquires Total E&P 10% stake in SPDC
Chappal Energies announced the acquisition of a 10% non-operated interest from Total Energies, EP, Nigeria Limited, involving onshore and shallow…
PH Refinery Takes Delivery Of 1m Barrel Of Crude, Gets License For Take-Off
The Old Port Harcourt Refinery has received one million barrels of crude oil from the Nigerian National Petroleum Company Ltd…
FG, USAID partner on $75 million for energy transition
The U.S. Agency for International Development (USAID) and the Federal Ministry of Power have signed a memorandum of understanding (MoU)…
China plans low-carbon upgrades for coal power sector
China has unveiled a government plan aimed at significantly reducing carbon emissions from its coal-fired power industry by implementing low-carbon…
Oil falls on lingering demand concerns in China
Oil prices retreated on Tuesday amid concerns over a slowing Chinese economy impacting demand, despite expectations of an upcoming interest…
Dangote Refinery to Start Petrol Sales in August 2024
At a press briefing in Lagos, Dangote announced that his refinery will begin selling petrol directly to marketers starting in…
P’Harcourt refinery undergoes licensing, minister defends rehabilitation exercise
The Port Harcourt Refining Company has completed mechanical work and received crude oil, but its operational start is delayed pending…
Nigeria’s oil production adds 25,000 barrels per day
Nigeria’s daily oil production increased by 25,000 barrels per day, rising from 1.251 million barrels per day in May to…
FG, IOCs agree on crude supply to Dangote, local refineries
The Nigerian government and local crude oil producers have pledged to maintain a sustainable supply of crude to domestic refineries…
FG, USAID sign N115bn MoU to support power sector reforms
The United States Agency for International Development (USAID) and the Federal Ministry of Power have signed a memorandum of understanding…
Firm Invests In Renewable Energy, Generates 3,200 Kwh
BAT Nigeria has invested millions of dollars in a solar power plant at its Ibadan manufacturing facility, generating an average…
Oil companies in Texas restoring operations following hurricane Beryl
Oil and gas companies in Texas are restarting operations after Hurricane Beryl hit the state with 80-mph winds, causing property…
FG Exempts GenCos, DisCos, Others From Withholding Tax
The federal government has exempted all electricity companies, including Generation and Distribution Companies (GenCos and DisCos), from paying Withholding Tax,…
DisCos further raise Band A electricity tariff, blame operating costs
Electricity Distribution Companies (DisCos) in Nigeria have approved another tariff hike for Band A consumers due to soaring operational costs.…
Dangote refinery begins gasoil exports to West African countries, as imports from Europe decline
Nigeria’s new Dangote oil refinery is increasing gasoil exports to West Africa, capturing market share from European refiners. The $20…
Nigeria Removes 5 Oil Blocks from Licensing Round Due to Legal Issues
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has removed five (5) oil blocks from the ongoing 2024 Licensing Round because…
85 million Nigerians lack access to electricity — USAID
At a conference themed “Powering Nigeria: Mobilizing Private Capital,” Melissa Jones, Mission Director for USAID, highlighted that 85 million Nigerians…
Nigeria’s gas export drops 25% on low output, exits
Nigeria’s gas exports have decreased by 25% to their lowest level in three years, mirroring a similar decline in the…
Salpha Energy gets €25,000 grant for Ashden Award
Salpha Energy has been awarded a €25,000 grant for winning the 2024 Ashden Award for Energy Innovation, supported by the…
Aiteo resumes production at OML 29 in Bayelsa after oil leak shutdown
Aiteo Eastern Exploration and Production Company (AEEPCO) has resumed production at Oil Mining License (OML 29) in the Nembe swamp…
NNPC shifts $700m gas pipeline delivery date to August
The Nigerian National Petroleum Company Limited (NNPC) has postponed the completion date of the $700 million Obiafu-Obrikom-Oben (OB3) gas pipeline…
Dangote accuses IOCs of plotting failure of its refinery
Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries Limited, has accused International Oil Companies (IOCs) in Nigeria…
New Report Says Nigeria’s Liquefied Natural Gas Expansion Drive Faces Severe Future Risks
Nigeria’s ambitious plans to expand its Liquefied Natural Gas (LNG) projects, including the notable Train-7 initiative, face significant risks, according…