Mr Festus Osifo, president, Trade Union Congress (TUC), says Nigerians are not averse to the removal of subsidy on Premium Motor Spirit (PMS) but waiting for the government to win their trust over the issue. Osifo spoke during a panel…
The CEO of Nigerian National Petroleum Company Limited Mele Kyari has stated that the company plans to triple Nigeria’s natural gas reserves from over 200 trillion cubic feet to 600 trillion cubic feet. Kyari stated this at the launch of…
By Uthman Salami The oil majors led by Shell Plc, ExxonMobil Corp., Chevron Corp. and Equinor ASA, have commenced plans to withdraw $2.9 billion suits filed against the Nigerian National Petroleum Company Limited formerly Nigerian National Petroleum Corporation over a…
Malaysian state oil company Petroliam Nasional Bhd. has started inviting bids for its upstream assets in Africa, which could fetch as much as $3 billion, people with knowledge of the matter said. Petronas is working with an adviser to gauge…
Shell Plc, ExxonMobil Corp., Chevron Corp. and Equinor ASA has begun plan to withdraw multibillion-dollar lawsuits against Nigeria National Petroleum Company Limited after finalizing new terms for deep-water oil production in Africa’s largest crude producer, Bloomberg reports. In letters to…
The House of Representatives has invited the Ministers of Power and Finance and heads of Bureau of Public Procurement (BPP), Niger Delta Power Holding Company (NDPHC) over a 33 million dollars Azura power purchase agreement. Other agencies invited include: Nigeria…
The Nigerian National Petroleum Company (NNPC) Limited has rejected suggestions from stakeholders to legalise artisanal refining of crude oil in the Niger Delta. Artisanal oil refining is small-scale crude oil processing or subsistent distillation of petroleum that is often outside…
The Abuja Electricity Distribution Company (AEDC) says it has spent over N500 million to improve electricity supply from about five hours to over 15 hours per day in Minna, Niger. Mr Mahamud Keni, Regional Manager, AEDC, Niger region, disclosed this…
The Minister of Power, Mr Abubakar Aliyu, on Tuesday urged investors to tap into the numerous investment opportunities that abound in Nigeria’s Electricity Supply Industry (NESI). This is contained in a statement by Mr Odutayo Oluseyi, Assistant Director, Information/Press, Ministry…
OPEC+members produced 2.9 million barrels per day (bpd) below their collective oil production target in July, two OPEC+ sources said on Monday. The gap between overall quota and actual oil production from the OPEC+ members has been growing for more…
