Damilola Shittu – Abuja The Nigerian National Petroleum Corporation (NNPC), on Thursday, said it has signed a six-month crude-for-product swap agreement otherwise known as Direct Sale-Direct Purchase (DSDP) with BP Oil International Limited, the trading arm of British Petroleum (BP), for the supply of Premium Motor Spirit (PMS) also known as petrol. In a statement…
John Paul – Abuja A fresh round of tremor measuring 3.0 Mercalli Intensity Scale, MIS, hit Maitama District in Abuja on Thursday, Nigerian Geological Survey Agency, (NGSA), has disclosed after receiving distress calls from residents in the area. Already, Federal Government has dispatched rescue and technical teams to the area to ascertain the level of…
Damilola Shittu – Abuja To further grow the nation’s economic fortunes, the Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikati Baru, has charged members of the Nigerian Association of Petroleum Explorationists (NAPE) to deploy their wealth of knowledge and experience to find more crude oil to meet the 40 million…
By Tsvetana Paraskova Libya has restarted three small oil fields and added around 10,000 bpd to its oil production—which has been steadily rising over the past two months—a spokesman for Libya’s National Oil Corporation (NOC) told Reuters on Wednesday. Late on Tuesday, Libya restarted the al-Bayda oil field, an engineer told Reuters, while the NOC…
The Kaduna Refining and Petrochemical Company, one of the country’s crude oil refineries being managed by the Nigerian National Petroleum Corporation (NNPC) has remained dormant. According to the corporation, the refinery’s capacity utilisation has remained at zero for months, as the KRPC is not refining crude oil despite receiving the commodity. In its latest monthly…
By Oke Peter Power generation in the country plunged to 2,390.20 megawatts on Monday, as the number of idle power plants rose from seven to 15, according to the latest data from the Federal Ministry of Power, Works and Housing. Total electricity generation has been hovering below 4,000MW in recent months and stood at 3,741.30MW…
Esther Abiola with Agency Report Dangote Oil Refinery Company (DORC) says the 650,000 barrels per day refinery has been designed to process a variety of light and medium grades of crude and produce extremely clean fuels that meet Euro V specification. Nigeria has remained a home for dirty fuels (with sulphur), which results in vehicle…
The narration of estimated billings and unreliable power supply in Nigeria has for years been a source of concern for electricity consumers. Estimated billings are bills that do not reflect the correct status of energy consumed. Such bills far exceeding what a customer could have consumed within the billing period. Hence, consumers are often reluctant…
By Irina Slav Crude oil prices have gone up high enough to begin hurting demand for the commodity, the chief of the International Energy Agency, Fatih Birol, said as quoted by Reuters on the sidelines of an industry event in Singapore. Birol noted the adverse effect of higher oil prices on large emerging economies in…
By Oke Peter Power experts, stakeholders will share success stories, case studies as well as practical solutions that will have immediate impact on the performance of utilities and large power users, renewables, mini grids and Gas-to-Power in Nigeria, at the upcoming 15th edition of Future Energy Nigeria. The event will hold between November 13 and…
