Oke Peter with Agency Report Nigeria has failed to comply with the new quota given by the Organisation of Petroleum Exporting Countries (OPEC) as it produced far in excess of its cap. OPEC and 10 non-OPEC countries agreed in December to cut oil production by 1.2 million barrels per day effective from January for an…
Mayowa Okekale – Abuja The Nigerian National Petroleum Corporation (NNPC) has expressed its commitment to a zero gas flare regime for every new gas project, even as it trains its sights on commercializing existing gas flare projects for the benefits of the host communities and Country at large. Group Managing Director of the NNPC, Dr….
Nearly two and a half years after exiting Nigeria’s downstream oil sector, ExxonMobil is weighing the sale of some oil and gas fields in the country. The United States-based oil major recently held talks on the sale of a suite of oil and gas fields in Nigeria as the company focuses on new developments in…
By Oke Peter The Commissioner, Legal, Licensing and Compliance, Nigerian Electricity Regulatory Commission (NERC), Barrister Dafe Akpeneye has disclosed that NERC would leave no stone unturned at ensuring quality and affordable services. Akpeneye disclosed this while delivering a lecture at the Energy and Power School training organised by the ESQ Legal Practice Training Limited, held…
The restoration of Ogoni land in Rivers State from environmental degradation occasioned by decades of careless oil exploitation in the area has continued to suffer from the customary official lethargy. Almost eight years after the receipt of the technical report prepared by the United Nations Environment Programme (UNEP) at the instance of the Federal Government,…
By Oke Peter At the backdrop of the continued comatose state of the Nigeria’s local refining capacity, the country may have spent about N10 trillion in the provision of pump price subsidy on imported petroleum products from 2006 to 2018. A research report by BudgIT, a public finance focused Non-Governmental Organisation (NGO), said this amount…
Mayowa Okekale – Abuja Better days are ahead for petroleum products consumers across the Country as the Nigerian National Petroleum Corporation (NNPC) and the Major Marketers Association of Nigeria (MOMAN) exchanged vows to strengthen synergy to ensure seamless supply of petroleum products across the country. Speaking during a MOMAN Chief Executive Officers Strategy Retreat Dinner…
Leading Electricity Distribution Company, Ikeja Electric (IE), has partnered with foremost mobile phones sales/support services company, Slot Foundation, to train 40 youths on repairs of Phones, Laptops and other mobile devices. The training, which is a Corporate Social Responsibility (CSR) initiative, will be held at the Slot Academy and will benefit 40 youths selected from…
Damilola Shittu with Agency Report The narrowing spread between Northwest European diesel and petrol cracks has helped support some Nigerian crude grades which have suffered from a lack of European demand, traders have said. The Amsterdam-Rotterdam-Antwerpfront-month diesel crack was assessed at $14.54 per barrel on Monday, with the benchmark ARA front-month Eurobob petrol crack at…
Themis, an Africa-focussed power company backed by Denham Capital, has partnered with Kingline Development Nigeria (Kingline) to develop a 550MW natural gas-fired power plant in Ondo State, Nigeria. Themis, an Africa-focussed power company backed by Denham Capital, has partnered with Kingline Development Nigeria (Kingline) to develop a 550MW natural gas-fired power plant in Ondo State,…
