By Ibiyemi Mathew The Nigerian National Petroleum Company Limited (NNPCL) has revealed that it has terminated all crude oil swap deals. The NNPCL disclosed this in an interview with Reuters monitored by Nigerian NewsDirect. According to the Group Chief Executive…
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has revealed that the Federal Government has officially scrapped petroleum equalisation as well as the national transport allowance. This is just as the Authority said it will no longer fix prices…
By Seun Ibiyemi The National Union of Electricity Employees (NUEE) on Sunday directed its members to withdraw their services nationwide over the sudden removal of fuel subsidy by the Nigerian government. The NUEE in a notice signed by its Acting…
The Organization of Petroleum Exporting Countries (OPEC) recorded a drop in its oil output for May following voluntary production cuts by members said to help support the market. According to a carried out by Reuters, OPEC production was down 460,000…
The African Development Bank, (AfDB) has set up the SEFA-funded COP26 Rapid Response Facility to provide short-term, demand-driven advisory support to Nigeria, Egypt, Kenya, Morocco, and South Africa. This facility aims to offer solutions for grid integration of variable renewable…
In line with its policy to promote and sustain strategic media relations, the Eko Electricity Distribution Company (EKEDC), has announced the appointment of Babatunde Lasaki as its new General Manager, Corporate Communications and Strategy. This follows the retirement of Godwin…
Nigeria’s most innovative financial institution, Wema Bank Plc, held its 2022 Annual General Meeting yesterday May 31st, 2023 amidst encomiums over the sterling performance of the bank and the huge dividend payout. Specifically, shareholders of the bank commended the board…
The Federal Government has given an assurance of its readiness to ensure all-round development of oil-producing communities as enshrined in the Petroleum Industry Act (PIA). Mr Olusegun Ogunnubi, the Head, Nigeria Upstream Petroleum Regulatory Commission (NUPRC), Warri Regional Office, gave…
Alhaji Mele Kyari, Group Chief Executive Officer, Nigerian National Petroleum Company (NNPC), has said that contrary to speculations, the immediate past government did not make provisions for petroleum subsidy in 2023 budget. He said this on Thursday in Abuja when…
The Adamawa State office of the Nigeria Midstream and Down Stream Petroleum Regulatory Authority (NMDPRA) has warned Independent Petroleum Marketers against hoarding or diverting the product. Dr Bashir Kafur, the Coordinator incharge of the regulatory agency in the state, gave…
