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The recent acquisition of Shell Petroleum Development Company’s (SPDC) assets in Nigeria by Renaissance Africa Energy Company has been hailed as a historic milestone and a turning point for the nation’s energy industry. Renaissance Africa Energy Company is a consortium comprising ND Western, Aradel Holdings Plc, First Exploration and Petroleum Development Company Limited, Waltersmith Group, ...
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has raised concerns over the alleged violation of local content laws by Sterling Oil Exploration and Production Company in Nigeria. At a News conference on Tuesday in Abuja, Mr Festus Osifo, PENGASSAN’s President accused the company of employing thousands of foreign workers, particularly Indians, ...
Petroleum engineers, under the umbrella of the Society of Petroleum Engineers (SPE), have expressed deep concerns over the large-scale waste of oil and gas resources, particularly natural gas, in Nigeria. Speaking at the inaugural Oilda Fireside Chat in Lagos, the Africa Regional Director of SPE, Engr Riverson Oppong, attributed the wastage to poor infrastructure and ...
…Minister sets up committee to address allegations By Seun Ibiyemi and Matthew Denis The Nigerian Content Development and Monitoring Board (NCDMB) has announced that it will launch an investigation into Sterling Oil Exploration and Energy Production Company (SEEPCO) over allegations of expatriate quota violations and unfair labour practices. This was disclosed in a statement issued ...
NNPC Limited has reaffirmed its dedication to ensuring that funds allocated under the Petroleum Industry Act (PIA) are efficiently utilised to drive tangible development in host communities. This commitment was underscored during a stakeholder engagement session with the KEFFESO Host Communities Development Trust (HCDT), a coalition of host communities comprising Koluama 1 and 2, Ezetu ...
In compliance with the amended constitution of the Federal Republic of Nigeria and the Electricity Act 2023 (Amended), the Nigerian Electricity Regulatory Commission has issued an order to transfer regulatory oversight of the electricity market in Plateau State to the Plateau State Electricity Regulatory Commission. Recall that with the EA 2023, the commission retains the ...
The Nigerian Content Development and Monitoring Board (NCDMB) has announced the launch of the first-ever Champions of Nigerian Content Awards, designed to honour individuals and companies that have made outstanding contributions to the advancement of Nigerian content in the oil and gas sector. In a statement issued over the weekend, the NCDMB disclosed that the ...
The Transmission Company of Nigeria (TCN) has rejected claims by the Benin Electricity Distribution Company (BEDC) that its maintenance activities were responsible for BEDC’s inability to supply electricity to its 33kV customers in certain areas of Delta State. This rebuttal was contained in a statement issued over the weekend by the TCN General Manager, Public ...
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has refuted claims that it opposed the recent reduction in Premium Motor Spirit (petrol) prices by Dangote Refinery and the Nigerian National Petroleum Corporation Limited. A former presidential aide Reno Omokri, in a post on his verified X (formerly Twitter) handle on Saturday night, alleged that IPMAN ...
The Federal Government has increased crude oil supply to the Dangote Petroleum Refinery to boost local refining. This comes as the refinery reduces its loading gantry price from N825 to N815 per litre. Experts highlight that crude oil supply to the Dangote Refinery is key to boosting local refining and increasing domestic production capacity. An ...
The Transmission Company of Nigeria (TCN) has reported the collapse of four electricity transmission towers along the Owerri-Ahoada 132kV line due to vandalism. In a statement released on Thursday in Abuja, TCN’s General Manager of Public Affairs, Mrs Ndidi Mbah, confirmed that the affected towers—T171 to T174—were severely damaged, leading to their collapse. The incident ...
Sterling Oil Exploration & Energy Production Company Limited (SEEPCO) has restated its commitment to staff welfare. It said it takes the alleged issues by PENGASSAN with utmost seriousness and responded immediately, displaying a commitment to resolve the issue and address any concerns by open, transparent, and constructive dialogue with the union. “As responsible corporate citizens, ...
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), in partnership with Hostcom Project Management and Adversary Consult Limited, has called on Host Communities Development Trusts (HCDTs) to ensure the effective utilisation of trust funds for sustainable development initiatives within their respective communities. This appeal was made during a stakeholders’ engagement meeting aimed at raising awareness and ...
The Nigeria Extractive Industries Transparency Initiative (NEITI) has commended Spaces For Change (S4C) for its significant advocacy efforts in empowering local communities affected by oil and gas operations. NEITI acknowledged S4C’s role in strengthening the capacity of citizens to hold public officials accountable, contributing to better governance and improved community engagement. Speaking at the 13th ...
By Seun Ibiyemi The Nigerian National Petroleum Company Limited (NNPC Ltd) has reported that Nigeria secured approximately $17 billion in foreign investment in 2024, attributing the inflows to major regulatory reforms and executive orders introduced by President Bola Ahmed Tinubu in 2023. NNPC Ltd’s Executive Vice President, Upstream, Mr Udy Ntia, made this known during ...
The Nigerian Midstream and Downstream Petroleum Resources Authority (NMDPRA), Eket Field Office, has sealed 10 Liquified Petroleum Gas (LPG) retail outlets in Akwa Ibom for various offences. The state Coordinator of NMDPRA, Mr Ikechukwu Eseka, said this at the end of surveillance operation in Uyo on Wednesday. He said that the LPG retail outlets were ...
The Transmission Company of Nigeria (TCN) says that the ‘lines cut’ that occurred between Towers 420 to 422 on the Omotoso – Ikeja West 330 Kilo Volt (kV) transmission line affected power supply to Lagos state. This is contained in a statement issued by Mrs Ndidi Mbah, TCN’S General Manager, Public Affairs in a statement ...
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has accused Sterling Oil Exploration and Energy Production Company Ltd. of violating Nigeria’s labour laws and rules. The PENGASSAN President, Mr Festus Osifo, made the allegation during picketing of the oil company by PENGASSAN on Tuesday on Victoria Island in Lagos State. Osifo alleged ...
By Seun Ibiyemi The Eko Electricity Distribution Company (EKEDC) attributed poor power in Lagos to a fault on the 330kV transmission lines supplying power to the region. A statement signed by the company explained that the reduced power allocation from the Transmission Company of Nigeria (TCN) has led to load-shedding across its network. “This is ...
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said crude oil production declined by 5 per cent in February 2025 to an average of 1.67million barrels per day (bopd) from an average of 1.73 million bopd in January 2025. In January, average crude oil production was 98 per cent of the 1.5million bopd Organisation of ...
By Mathew Dennis The Nigerian National Petroleum Company Limited (NNPC Ltd) has denied reports alleging that it has unilaterally stopped supplying crude oil to Dangote Refinery under the Naira crude contract. In a statement issued on Monday, NNPC Ltd’s Chief Corporate Communications Officer, Olufemi Soneye, clarified that the crude sale agreement in Naira was structured ...
The Abuja Electricity Distribution Company (AEDC) has attributed the power outage in some areas of the Federal Capital Territory (FCT) to a technical fault on the feeder serving those locations. The company made this known in a statement posted on its X, formerly Twitter, handle in Abuja on Monday. The areas affected by the outage ...
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has urged the Federal Government to regulate the frequent downward review of petroleum product prices, warning that unchecked price fluctuations are causing financial instability and losses in the downstream sector. In a statement released yesterday, PETROAN expressed concern over the volatility of fuel prices, noting ...
