The Federal Government spent N628.61 billion as subsidy on electricity in 2023, as power distribution companies collected a total revenue of N1.08 trillion during the same period, the latest industry data obtained from the Nigerian Electricity Regulatory Commission during the…
Nigeria’s premier deep-water development, Bonga, operated by Shell Nigeria Exploration and Production Company Limited (SNEPCo) has won the coveted Asset of the Year award in the Shell Group for 2023, the latest recognition of its best-in-class performance in Safety, Environment…
The Federal Government, on Monday, urged the United Arab Emirates to invest in the renewal and reconstruction of the more than 50-year-old oil pipelines in Nigeria, stressing that the facilities had outlived their lifespans. It also stated that Nigeria and…
The Transmission Company of Nigeria (TCN) has informed governors of North-East states that efforts are underway to restore electricity to the region by May 27, 2024, in line with previous commitments. In a circular signed by the spokesperson of the…
The National Public Relations Officer, Independent Petroleum Marketers Association of Nigeria (IPMAN), Chief Ukadike Chinedu has revealed that the refinery may resume operations in July. Speaking to journalists during the week, Ukadike stated that the development would stimulate economic activities,…
The National Public Relations Officer, Independent Petroleum Marketers Association of Nigeria (IPMAN), Chief Ukadike Chinedu has revealed that the refinery may resume operations in July. Speaking to newsmen on Monday, Ukadike stated that the development would stimulate economic activities reduce…
The Niger Delta Development Commission (NDDC) has inaugurated the 1×15MVA 33/11KV electricity injection substation it built in Amufi, Ikpoba-Okha Local Government Area in Benin City, Edo State. Speaking at the commissioning ceremony, the NDDC Managing Director, Dr Samuel Ogbuku, re-stated…
Members of OML54 communities have asked Aradel Holdings Plc, to make available the details of the 3percent host community development fund accruable to the community as enshrined in the Petroleum Industry Act, PIA. The people who made the demand during…
The federal government has reversed its decision to halt the transfer of electricity regulatory oversight to state governments. On Monday, Adebayo Adelabu, the Minister of Power, addressed the two-day stakeholders’ workshop organised by the Nigerian Electricity Regulatory Commission (NERC) in…
Oil prices saw a slight increase on Monday following report surrounding the death of Iran’s President Ebrahim Raisi, his foreign minister and others in a helicopter crash. The development is seen to have contributed to the overall market sentiment, which…
