The South Korean Government has revealed that the country would release 3.17 million barrels of its oil reserves in the first quarter of 2022 as part of the U.S.-led global effort by major oil-consuming nations to lower prices. According to…
The regulatory agencies investigating the Nov. 5 oil spill at Oil Mining Lease (OML) 29 at Nembe Bayelsa on Thursday attributed the spillage to sabotage. Nigerian NewsDirect reports that the accident polluted the Santa Barbra River and Nembe Creeks. The…
By Alao Matthew The extraordinary Federal Executive Council meeting presided over by Vice President Yemi Osinbajo at Council Chambers of the State House, Thursday approved all 16 memos on power presented by Minister of Power, Engr Abubakar Aliyu. The Minister…
NNPC rakes in N203bn from Petroleum products sale in July 2021 …As Gas production goes up 4% A total sum of ₦203.73billion was made on the sale of white products in the month of July 2021 by the Petroleum Products…
Coal production is set to hit an all-time high according to the International Energy Agency (IEA) despite the curbing of production across several countries and aims for decarbonization following COP26. Coal demand has continued to increase through 2021 mainly due…
The Nigerian Electricity Regulatory Commission, NERC has revealed that about 6.3 million electricity consumers have not yet been metered for despite the Federal Government’s mass metering initiative. The Commission expressed deep concern over the huge metering gap in Nigeria, describing…
Ripples Nigeria Major setback awaits Nigerian economy as more foreign oil companies prepare to exit. Nigeria’s oil rig count has decreased by 38 percent to 80 in the first 11 months of 2021, from 129, recorded in the corresponding period…
Nigeria’s Minister of Science, Technology and Innovation, Dr Ogbonnaya Onu, says that the discovery of crude oil at Kolmani River II in the Upper Benue Trough is a big boost for oil and gas exploration in the country’s frontier basin…
The Executive Director, Nigerian Export Promotion Council (NEPC), Mr. Ezra Yakusak has stated that 36 Small and Medium Enterprises (SMEs) exporters had been certified further to enhance the country’s non-oil exports as well as to minimise products rejection by foreign…
The Nigerian Electricity Regulatory Commission (NERC), has said the Republic of Benin, Niger Republic, Togo made no payment for the electricity supplied to them from Nigeria in the second quarter of 2021. The Commission disclosed this in its second-quarter report…
