The Minister of State for Petroleum Resources, Mr Timipre Sylva, on Wednesday, said Nigeria now has 1.9 billion litres of petrol in stock, capable of lasting the country for 32 days. He made this known in Abuja while updating the…
…As company bags Best Downstream Company Award Nigeria’s leading indigenous marketer of choice, OVH Energy Marketing (Oando Licensee) has proffered strong recommendations on the development of the midstream and downstream Oil & Gas industry in Nigeria, suggesting that the sector…
By Uthman Salami Withdrawal of investment by International Oil Company (IOCs) and investors in hydrocarbon exploitation are responsible for Nigeria’s inability to meet up with the target set by the Organization of Petroleum Exporting Country (OPEC), Timipre Sylva has said.…
The Transmission Company of Nigeria (TCN) says the current load shedding and outage being experienced nationwide is as a result of low power generation by the Generation Companies (GenCos). A statement on Tuesday by the spokesperson, Ndidi Mbah explained that…
By Ogaga Ariemu The Transmission Company of Nigeria (TCN) has said consumers of electricity should blame Generation Companies (GenCos) for the current load shedding being experienced nationwide. This was contained in a statement made available to Nigerian NewsDirect by the…
By Uthman Salami Calls for ban of Russian crude may push oil prices to $300 a barrel if appropriate measures are not laid before such decision is taken, Nigerian NewsDirect reports. With the US ready said to vote as on the proposal…
By Uthman Salami The Nigeria Content Development Monitoring Board (NCDMB) has begun to facilitate promotion of a new funding mechanism that will transform Africa’s oil and gas industry after shift in funding of the sector by Western nations to renewables.…
Nigeria and other petroleum producing countries in Africa have begun engagements with Developmental Finance Institutions (DFIs) to fund critical oil and gas projects in the continent. The Minister of State for Petroleum Resources, Chief Timipre Sylva, made this known while…
The Nigeria Extractive Industries Transparency Initiative (NEITI), said oil and gas companies liabilities to the Federation Accounts as at Dec. 31, 2020 was N1.32 trillion. Dr. Orji Ogbonnaya Orji, the Executive Secretary, NEITI made this known on Monday in Abuja…
By Uthman Salami Global oil prices have reacted to EU, US and Allies proposal to sanction crude from Russian over the latter’s unprovoked war and subsequent invasion of Ukraine. Earlier, the United State had had confirmed being talks with European…
