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The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has warned that it will deny export permits for crude oil cargoes intended for domestic refining, if oil companies do not fulfill their domestic crude obligations. The Commission Chief Executive (CCE), Mr Gbenga Komolafe, insisted that any changes to cargoes designated for domestic refining must receive express approval ...
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has said that the latest reduction of the ex-depot price of Premium Motor Spirit (PMS), otherwise known as petrol by the Dangote Petroleum Refinery may not reflect immediately in pump prices across the country. While speaking in an interview on Arise News (TV), the National ...
Dangote Refinery has reduced the loading price of Premium Motor Spirit (PMS) otherwise known as petrol to N890 per litre. The refinery increased the petrol loading price to N950 per litre three weeks ago. The Spokesman for the Dangote Group, Anthony Chiejina, announced the new price regime in a statement over the weekend in Lagos. ...
Oando PLC has announced a 45% growth in revenue to N4.1trn for the Full Year (FY) 2024. The company’s 2024 performance showcases a consistent upward trajectory following its announcement of N65.5 billion in profit after tax. Speaking on the results, Group Chief Executive, Oando PLC, Wale Tinubu CON, commented, “2024 was a year of transformation ...
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called on marketers to lower the price of Premium Motor Spirit, or petrol, in light of the Dangote Refinery’s decision to reduce the ex-depot price from N950 to N890 per litre. Dangote refinery in a statement released on Saturday by the Group Chief Branding ...
…Reiterates commitment to deepen gas utilization Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, has flagged off the construction of five mini liquefied natural gas (LNG) plants in Ajaokuta, Kogi State. The projects, a collaboration between the Nigerian National Petroleum Company Limited (NNPCL) and its partners, mark a significant milestone in Nigeria’s quest ...
TotalEnergies Marketing Nigeria Limited, the downstream subsidiary of TotalEnergies hit a total revenue of N1.04 trillion in 2024. This is the highest revenue ever generated by a private wholly downstream player in Nigeria. The company’s revenue during the financial year was 64 percent higher than the N636 billion revenue generated in 2023, a previous record. ...
A Federal High Court in Abuja on Thursday, fixed Feb 5 to hear the Nigeria National Petroleum Company Limited (NNPCL)’s preliminary objection against a suit filed by Dangote Petroleum Refinery and Petrochemicals FZE over oil import licence dispute. Justice Inyang Ekwo fixed the date after counsel to Dangote Refinery, George Ibrahim, SAN, told the court ...
The Federal Government on Thursday began the construction of five Mini Liquefied Natural Gas (LNG) Plants in Ajaokuta, Kogi State. The plants are to facilitate rapid access to gas to deepen its utilisation among Nigerians. The plants are being developed by the Nigerian National Petroleum Company Limited (NNPC Ltd.) in partnership with PRIME LNG, NGML/Gasnexus ...
The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe, has commended Brightwaters Energy Limited for its ability to effectively undertake oil industry projects. Engr. Ogbe made the remarks during a visit to the company’s facilities in Port Harcourt, Rivers State, accompanied by senior officials from Shell Petroleum Development ...
The Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, has charged Seplat Energy Producing Nigeria Unlimited (SEPNU) to accelerate its natural gas delivery efforts for domestic use and export. This call was made during a meeting with SEPNU’s senior management, led by Managing Director Mr. Dotun Isiaka, at the NNPC Towers office in ...
Following a successful eye care intervention in the South West, where over 1,000 people, including two minors, regained their sight, the Nigerian National Petroleum Company Limited (NNPC Ltd.) is set to expand the initiative nationwide. By the end of the first quarter, the company aims to restore vision for about 6,000 people across Nigeria. The ...
The Nigeria National Petroleum Company Limited said it uncovered 58 illegal refineries and 19 illegal pipeline connections in one week across the Niger Delta region. This is coming a week after the national oil company announced the discovery of 55 illegal refineries and 29 illegal pipeline connections. In a video documentary on the official YouTube ...
The Federal Government has awarded Gas Distribution Licenses to six firms as part of efforts to deepen gas utilisation in the country. The FG through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) issued 10 licenses to the firms at an event in Abuja yesterday. The beneficiary firms are NNPC Gas Marketing Limited, Shell ...
The Ibadan Electricity Distribution Company is under fire for raising its minimum energy credit purchase requirement for Band A customers to N5,000. The DisCo also capped the minimum energy credit for customers on other bands at N2,000, sparking outrage and condemnation from various consumer groups. In a message to its customers, the IBEDC said, “Please ...
The Group Chief Executive Officer of Oando Plc, Wale Tinubu, has announced that the oil company is partnering with the Lagos State Government to deploy 5,000 electric buses for public transportation in the state. Tinubu made the announcement in an interview with CNBC Africa during the recently concluded World Economic Forum in Davos, Switzerland. He ...
The Minister of Solid Minerals Development, Dr Dele Alake, has urged British investors to explore opportunities in Nigeria’s mining sector. Alake made the call when he received the British Deputy High Commissioner to Nigeria, Mr Jonny Baxter, on Monday in his office in Abuja. He stated that Nigeria welcomed the UK’s support for capacity building, ...
The Nigerian Content Development and Monitoring Board (NCDMB) says it will host an engineering olympiad to promote Science, Technology, Engineering and Mathematics (STEM), among youths. Its General Manager, Corporate Communications and Zonal Coordination, Mr Esueme Kikile, said this on Monday in an interview with newsmen in Abuja. Kikile said different programmes in the entertainment and ...
By Seun Ibiyemi The Tinubu Media Volunteers (TMV), has commend the 6.7 billion dollars investment in the country's energy sector in the year 2024 In a statement signed by Mr Chukwudi Enekwechi its Chairman, TMV noted that the investment inflow was a consequence of the incentives introduced by the President Bola Tinubu administration. The group ...
The Federal Government of Nigeria is seeking the support of the World Economic Forum (WEF) on the African Atlantic Gas Pipeline (AAGP) project to connect Nigeria to Morocco and other African nations, enhancing regional energy security and economic growth.The development was announced by the President’s Spokesperson, Stanley Nkwocha on his official X (Twitter) page over ...
Nigeria must address key challenges, including enhanced security, increased investment, and a robust regulatory framework, to meet its target of producing 2.06 million barrels of crude oil per day in 2025. This is the conclusion of an analysis included in the “2025 Nigerian Budget and Economic Outlook” report by PricewaterhouseCoopers (PwC) International Limited. The analysis ...
The Nigerian Extractive Industries Transparency Initiative (NEITI) has urged the Nigerian National Petroleum Company Limited (NNPCL) to fast-track action on the ongoing rehabilitation of Phase Two Port Harcourt Refinery Company Limited and Kaduna Refinery. The watchdog organisation made the call in a press statement its Communication & Stakeholders Management, Acting Director, Obiageli Onuorah issued during ...
The price of Liquified Petroleum Gas (cooking gas) rose by 44.62 percent from December 2023 to December 2024, a report by the Nigeria Bureau of Statistics (NBS) has revealed. According to the NBS Liquefied Petroleum Gas (Cooking Gas) Price Watch for December 2024, the average retail price for refilling a 5kg Cylinder increased from N4,962.87 ...
