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The National Oil Spill Detection and Response Agency (NOSDRA) says it’s partnering with the Marine Platform Ltd. to domicile an Oil Capping Stack equipment in Nigeria. NOSDRA Director-General, Mr Chukwuemeka Woke said this on Wednesday in Abuja during the inauguration of a Technical Committee to oversee the installation and operation of the equipment. An oil capping ...
By Seun Ibiyemi Amid ongoing conversations around a proposed crude-for-loan arrangement with Saudi oil giant Aramco, the federal government has said that it remains committed to deploying innovative and fiscally responsible financing strategies to optimise Nigeria’s oil assets, enhance external liquidity, and strengthen macroeconomic stability. In a statement issued on Wednesday, the Federal Ministry of ...
NLNG, Nigeria’s gas company, has partnered with the Nigerian Content Development and Monitoring Board (NCDMB) to train 140 technicians and engineers through its Train 7 HCD Advanced Training Programme. The training, which is to run for three months at the gas company’s Bonny Island complex, is to produce world-class professionals – technicians and engineers – ...
Nigeria and Saudi Arabia’s state oil giant Aramco are struggling to reach an agreement on a record $5 billion oil-backed loan after a recent decline in crude prices sparked concerns among banks expected to finance the deal, four sources familiar with the matter told Reuters. The proposed facility would be Nigeria’s largest oil-backed loan to ...
NNPC Limited has warned the general public, especially foreign investors and international business entities to be mindful of the activities of some fraudsters and criminal elements, who present themselves as representatives of the company with the aim of defrauding them. Describing such actions as illegal and unauthorised, the Company disclosed that such criminal elements solicit ...
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has defended the integrity of the 2024 Oil Block Licensing Round following widespread criticism over the award of lucrative oil blocks to a newly incorporated company, Panout Oil & Gas. Concerns were raised after it emerged that Panout, just eight days old at the time of bidding, clinched ...
The Nigerian Content Development and Monitoring Board (NCDMB) says 90 percent of the Nigeria content intervention (NCI) fund, managed by the Bank of Industry (BOI), has been repaid. The Executive Secretary of the NCDMB, Felix Ogbe spoke during an oversight visit by the senate committee on local content to the board’s facilities, according to a statement ...
The Abuja Electricity Distribution Company (AEDC) has announced a power outage in parts of the federal capital territory (FCT). In a statement over the weekend, the AEDC said the blackout was due to a “technical fault” on the feeders serving the affected areas. According to the company, the locations affected are Efab Classic Estate, Metro ...
Africa’s largest private power firm, Sahara Power Group (SPG), in collaboration with Crescendough Nigeria Limited (CNL), has commissioned the 180MW Afam II Power Plant in Rivers State, delivering a major boost to Nigeria’s electricity supply and underlining the growing influence of private-sector partnerships in addressing the country’s energy challenges. The plant, fully developed and delivered ...
ABUJA – Vice-President Kashim Shettima has announced Nigeria’s commitment to a $25 billion undersea gas pipeline project that will supply natural gas to Europe via the West African coast, reinforcing the country’s ambition to become a major global energy player. Shettima made the disclosure during a meeting with senior executives of Vitol Group, the world’s ...
The Enugu Electricity Distribution Company (EEDC) says the current tariff is a fallout from the Service Based Tariff (SBT) which was introduced by the Nigerian Electricity Regulatory Commission (NERC) in 2020. This is part of measures to ensure that distribution companies deliver efficient services to customers. The Head Corporate Communications of EEDC, Mr Emeka Ezeh ...
A delegation from Renaissance Africa Energy Company Limited (RAEC) has paid a courtesy visit to the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, at his office in Abuja, as part of ongoing engagement with strategic indigenous players in Nigeria’s energy sector. The delegation was led by Dr. Layi Fatona, ...
By Ahiaba Douglas President of the Trade Union Congress (TUC) and National President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Comrade Festus Osifo, has delivered a damning midterm assessment of President Bola Ahmed Tinubu’s administration, stating that the government’s performance falls “far below” what Nigerians were promised or anticipated. Osifo ...
…As host communities tell NNPCL to adhere to 30-day timeframe for maintenance Host communities in Okrika and Eleme Local Government Areas of Rivers State have expressed alarm over the recent shutdown of the Port Harcourt Refinery by the Nigerian National Petroleum Company Limited (NNPCL), cautioning that the move could result in another round of fuel ...
President of Dangote Group, Aliko Dangote, has stated that Nigerians are currently paying only 55 percent of what citizens in neighbouring West African countries spend on Premium Motor Spirit (petrol), attributing the difference to the impact of local refining. Dangote made the remark during a high-level tour of his 650,000 barrels-per-day refinery, led by the ...
By Seun Ibiyemi Nigeria will host the fourth edition of the African Natural Resources and Energy Investment Summit (AFNIS) from 14 to 17 July in Abuja, bringing together stakeholders from across the continent to accelerate the sustainable development of Africa’s vast natural and energy resources. This was announced in a statement issued on Monday by ...
Professor Wumi Iledare, Professor Emeritus of Petroleum Economics at Louisiana State University, has urged the Federal Government to place sustainable development at the heart of ongoing reforms in Nigeria’s oil and gas industry. Speaking to journalists on Monday in Lagos, Professor Iledare called on President Bola Tinubu’s administration to uphold the provisions of the Petroleum ...
The Presidency has dispelled widespread concerns over the departure of International Oil Companies (IOCs) from Nigeria, stating that the companies are not leaving the country but are instead recalibrating their operations with greater emphasis on deepwater exploration. This clarification was given by Mrs Olu Verheijen, Special Adviser to President Bola Tinubu on Energy, during a ...
The Transmission Company of Nigeria (TCN) has claimed significant progress on critical electricity transmission infrastructure projects aimed at enhancing power supply, reliability and capacity in Kaduna and environs. Speaking at a press parley at the TCN regional office in Kaduna, the General Manager Transmission, Kaduna Region, Engr Nasir Mansur. S. Fada reaffirmed TCN’s commitment to ...
The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe has been appointed into the Executive Board of the African Petroleum Producers’ Organization (APPO). By the appointment, Ogbe becomes Nigeria’s representative on the Board of the 18-member continental body, which has its headquarters at Brazzaville, Republic of the Congo. ...
The Federal Government has announced plans to deploy seven million smart electricity meters across Nigeria under the Presidential Metering Initiative, aiming to address estimated billing and reduce revenue leakages within the power sector. The disclosure was made by Mrs Olu Verheijen, Special Adviser to President Bola Tinubu on Energy, during a media briefing on Sunday ...
By Seun Ibiyemi The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company Limited (NNPCL), accusing it of failing to remit ₦500 billion in oil revenue to the Federation Account between October and December 2024. The organisation disclosed the legal action on Sunday through a post on X ...
Energy analyst Kelvin Emmanuel has warned that the Nigerian government’s recently introduced executive directives aimed at improving cost efficiency in the upstream oil sector are inadequate to address deeper, long-standing structural and economic problems, particularly within the struggling onshore segment. Speaking in an interview on Arise TV’s Business Week on Saturday, Emmanuel observed that the ...
