The international oil benchmark, Brent crude, tumbled on Monday after hitting a record high of $53 ahead of the meeting of the Organisation of the Petroleum Exporting Countries and its allies. OPEC and its allies, a group known as OPEC+,…
The 13th OPEC and non-OPEC Ministerial Meeting (ONOMM), held via videoconference, concluded on Tuesday, 5 January 2021. The Meeting, which reconvened following an initial round of discussions on 4 January, reaffirmed the continued commitment of the participating countries in the…
The Federal Government has given Nigerians bitter pills to swallow in the New Year with the reported hike in electricity tariff again. This is coming two months after the government forced on Nigerians increase in tariff, with crazy bills being…
The Major Oil Marketers Association of Nigeria (MOMAN) says it is excited by the commencement of the African Continental Free Trade Area Agreement (AfCFTA) because it can transform Nigeria into a petroleum products refining hub. Mr Tunji Oyebanji, Chairman, MOMAN,…
The cumulative revenue lost by the power sector in 2020 was N645.15 billion, while the total quantum of electricity constrained during the period was 44,068 megawatts, investigation has shown. Constrained power is the quantum of electricity that could not be…
The Organisation of the Petroleum Exporting Countries (OPEC) sees plenty of downside risks for oil markets in the first half of 2021, Mohammad Barkindo, its Secretary-General said on Sunday. Barkindo’s remark is coming a day before meeting allies, led by…
The Department of Petroleum Resources (DPR) has called on users and sellers of Liquefied Petroleum Gas (LPG), otherwise known as cooking gas, to strictly adhere to safety rules in the light of the harmattan season. Mr Musa Zarumai-Tambuwal, the DPR…
The administration of Governor Babajide Olusola Sanwo-Olu is set to take another step in actualizing its vision for a Greater Lagos by replacing all streetlights in the State with smart LED lighting. The Streetlight Retrofit Project was unanimously approved by…
The Lagos Chamber of Commerce and Industry (LCCI) has urged the National Assembly to ensure the passage of a competitive Petroleum Industry Bill (PIB) that would make Nigeria an investment destination of choice. Mr Muda Yusuf, Director General, LCCI, made…
The Department of Petroleum Resources (DPR) says 161 successful companies have been shortlisted to advance to the next and final stage of the bid round process for 57 marginal oilfields in the country. Mr Paul Osu, Head, Public Affairs, DPR said on Thursday…
