Oil Firms Not Drilling Except NNPC, Says Kyari- Nigeria.
The Group Managing Director, Nigerian National Petroleum Company Limited, Mele Kyari, announced that the decline in the funding of oil…
Category: Energy
Nigeria’s 26 Power Plants’ Capacity Drops By 70%
There has been a drop in the combined generation capacity of Nigeria’s 26 power plants by 70%. A breakdown of…
Oil Tumbles 9% On Recession Demand Destruction Fears
Oil plummeted about 9% in the biggest daily drop since March on growing fears of a global recession and lockdowns…
Oil And Gas Is Best Performing Index In HY 2022 With 58% Gain
Russia’s invasion of Ukraine has led to a sharp rise in global oil prices; amounting to more than 100 dollars…
OPEC Faces Critical Oil Production Decision As Nigeria Gets 1.826m Bpd August Quota.
The Organisation of Petroleum Exporting Countries (OPEC) will in August decide whether to continue its current measured oil supply. Which…
Nigeria Lost N500.6Bn Crude Oil In Five Months – Investigation
Revenues accruable to Nigeria from the sale of crude oil crashed by about N500.6bn between January and May this year.…
FG Approves Reforms To Boost Non-Oil Revenue To N3.8 Trillion Annually.
The Federal Government through the Federal Executive Council (FEC) has approved reforms to boost Nigeria’s non-oil revenue; to N3.8 trillion…
Oil Prices Take Breather After Three-Day Rally
Oil prices fell on Wednesday after rising in the previous three sessions, but it a limited loss on the view…
Fuel Subsidy, Refinery Rehabilitation Gulped N1.3tn In Five Months – NNPC
The amount spent on petrol subsidy monthly has been depleting the revenues accruable to the Federation Account. Thus limiting the…
Saudi, OPEC May Make Up Or Russian Oil Output Loss As Biden visit looms
Saudi Arabia and other OPEC states may boost oil production to offset a drop in Russian output. A move that…
As Russia Cuts Gas, German Industry Grapples With Painful Choices
The German companies that drive Europe’s biggest economy are contemplating painful cuts to their output and resorting. To polluting forms…
Oil Prices Slump As Investors Fear Fed Rate Hikes Will Hurt Demand
Oil prices dropped by nearly $2 a barrel after another round of remarks from Federal Reserve Chair. Jerome Powell fanned…
Kerosene, Gas Prices Rise 88% In One Year – National Bereau Statistics(NBS).
Primary cooking fuels, kerosene and Liquefied Petroleum Gas, otherwise referred to as cooking gas, recorded; 88% price increase within in…
MTNN, OANDO Lead Giners By Value, With NGX Market Cap Up By N130 Billion.
The NGX closed on a positive note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) appreciated by 47…
States To Lose N19bn In Oil, Gas Revenues In 2022 – World Bank.
The World Bank has said that Nigerian states will likely lose N18.8bn in oil and gas revenues in 2022. As…
Nigeria Rallies Support For $13bn Trans-Saharan Gas Pipeline
The Federal Government charged all parties Nigeria, Niger and Algeria involved in the construction of the $13bn Trans-Saharan Gas Pipeline.…
Cost Of 12.5kg Cooking Gas Hits N9,400 In May 2022, Highest In 3 Years
The cost of purchasing a 12.5kg cylinder of household cooking gas in Nigeria has increased from N7,000 in September 2021…
FG, NEXIM Sign $40m Women In Oil Sector Fund
The Federal Government and the Nigerian Export-Import Bank have signed a $40m intervention fund for women in the oil and…
Schneider Electric develops micro grid solutions to boost energy transition
As part of efforts to support Nigeria’s commitment towardsnet-zero carbon emission, Schneider Electric has introduced a new range of micro-grid…
Blending off-spec fuel near completion, says MOMAN
The Major Oil Marketers Association of Nigeria (MOMAN) says its members are close to the completion of blending the off-spec…
UK to fund £10m energy projects in Nigeria
The United Kingdom announced on Monday its plan to inject £10m worth of aid to invest in energy access projects…
Seplat, Sahara Group, others bid to buy Shell’s joint venture assets in Nigeria
Four indigenous oil and gas firms have indicated an interest in the acquisition of Shell Petroleum Development Company multibillion-dollar stake…
Europe Plan Production Of Green Hydrogen
Spanish power company Iberdrola and Sweden’s H2 Green Steel are to partner and develop a major facility that will produce…
Jos Electricity Laments N115bn Owed By Consumers
The Managing Director, Jos Electricity Distribution Plc, Engr. Hashim Ibrahim Bakori has said post-paid customers across the company’s franchise states…
IEA Chief Criticizes ‘Artificial Tightness’ In Energy Markets, Says Some Failed To Help Cool Prices
The head of the world’s leading energy authority has said that some countries had failed to adopt a helpful position…
Nigeria’s 2060 Net-zero Projection
For Nigeria, it was revealed that the nation plans to zero out carbon emissions by 2060 through its Energy Transition…
FG Raises Power Tariff December, Begins Free Meters Purchase
Power consumers nationwide may start to pay more for electricity, following plans by the Federal Government to carry out a…
Search Engine “Ecosia” Launch $405 Million Venture Capital Fund For Climate Crisis
Ecosia, the search engine that uses its ad revenue no to plant trees, has launched a 350 million euro ($405…
French Development Agency Staked $70 Million To Bridge Nigeria Power Needs
To bridge the nation’s power needs and reduce environmental pollution, the Agence Francaise de Developement (AFD) has staked about $70m…
Frazium Energy Strikes Deal For Solar Battery Project In Eswatini
Australian renewable power producer Frazium Energy has inked a deal with the government of Eswatini, also known as Swaziland, to…