Heirs Energies, Renaissance Africa collaborate to drive Nigeria’s oil and gas devt
Heirs Energies Limited and Renaissance Africa Energy Company have expressed mutual commitment to strategic collaboration following a high-level courtesy visit by Osa Igiehon, CEO of Heirs Energies, to Renaissance's leadership team, led by the Managing Director, Tony Attah.
Metering: Community leaders decry estimated billing in Ikorodu
Two community leaders in Ikorodu area of Lagos State have condemned continuous estimated electricity billing by officials of the Ikeja Electricity Distribution Company in the area. They told the News Agency of Nigeria (NAN) in separate interviews on Saturday that most electricity consumers in over 100 Communities in Ikorodu area were not metered and have […]
Positive reactions, as NASS passes PIB with two regulators
Experts and other stakeholders working in Nigeria’s petroleum industry have expressed optimism that reforms needed to grow the sector would happen following the passage of the Petroleum Industry Bill, PIB, by the National Assembly on Thursday.
FG’s equity in Dangote, other refineries will guarantee security ― Sylva
The Minister of State for Petroleum Resources, Chief Timipre Sylva, says the Federal Government decision to acquire 20 per cent equity stake in all private refineries is to guarantee energy security and stability in the country. Sylva disclosed this when he received an award from a group called “Corruption Reporter,” on Thursday in Abuja. The […]
Explainer: 10 things to know about Nigeria’s PIB
The previous administrations failed to pass it into law because of many factors, especially politics, sectional interests, and lack of political will.
Nigeria’s annual LPG consumption hits 1mMT — NLPGA
THE nation’s Liquefied Petroleum Gas, LPG, consumption has risen to 1,000,000 metric tonnes, MT, from 500,000MT yearly, due mainly to increased demand.
PIND, CNL partner IRDC to electrify Ondo riverine communities
In a bid to provide sustainable energy to some riverine communities in Ondo State, oil giants, NNPC/Chevron Nigeria Ltd. Joint Venture, CNL, in partnership with Ilaje Rural Development Committee, IRDC, and Foundation for Partnership Initiatives in the Niger Delta, PIND, have inaugurated a solar power electricity project.
Nigeria’s oil production falls by 6.32% in 3 months
By Obas Esiedesa Crude oil production in Nigeria fell by 6.32 percent to 1.344 million barrels per day in May, 2021 compared to 1.429 million barrels per day recorded in April 2021, latest data from the Organization of Petroleum Exporting Countries, OPEC, has shown. The report also indicated that Nigeria’s average daily oil production in […]
PENGASSAN seeks investor-friendly PIB
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has urged the National Assembly to pass a balanced and investor-friendly Petroleum Industry Bill (PIB). The National President, PENGASSAN, Festus Osifo, disclosed this at the PENGASSAN Total Exploration and Production Nigeria sixth Triennial Branch Delegates Conference in Abuja. “What we are advocating is that […]
Ologbo modular refinery ready for production ― Gov Obaseki
Governor Godwin Obaseki of Edo, says the modular refinery in Ologbo, Ikpoba–Okha Local Government Area (LGA) of the state was ready for production. Obaseki stated this shortly after he was conducted round the facility by the Managing Director of the refinery, Mr Tim Tian. “We were in China to sign this Memorandum of Understanding (MoU). […]
FG paying N9.68bn as petrol subsidy daily ― NNPC
By Obas Esiedesa – Abuja The Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mele Kyari, has disclosed the open price of premium motor spirit, petrol, has risen to N256 per litre. With the present pump price of petrol pegged at N162 per litre, it means the government is subsidizing the product by […]
NCDMB sets up $30m working capital fund for local oil firms
By Obas Esiedesa – Abuja The Nigerian Content Development and Monitoring Board, NCDMB, has set up a $30 million working capital fund to support indigenous oil and gas companies. The fund, according to NCDMB, will support the operations of local oil companies against the adverse effects of COVID-19 Pandemic, loss of contracts due to low […]
Smuggling: PMS daily consumption rises to 103m litres ― NNPC
The Nigerian National Petroleum Corporation (NNPC) says smuggling across the borders has increased the daily consumption of Premium Motor Spirit (PMS) to 103 million litres per day in May. The Group Managing Director (GMD), NNPC, Mele Kyari, made this known at stakeholders meeting organised by the corporation to discuss how best to stop smuggling in […]
Metering: MAPs petition FG over pricing, forex, Customs, others
By Udeme Akpan THE Meters Assets Providers, MAPs, Tuesday, petitioned the Federal Government, over fixed meter pricing, unavailability of foreign exchange, and Customs clearing bottlenecks, as major challenges hindering efforts, targeted at closing the nation’s metering gap. They also noted the disruptions in the global supply chain resulting from the COVID-19 pandemic, with an attendant […]
FG targets 90% LPG use as cooking fuel in 10 years
By Obas Esiedesa – Abuja The Federal Government has rolled out plans to ensure the use of Liquefied Petroleum Gas, LPG, as cooking fuel grows from the current five per cent to 90 per cent in the next ten years. The government expressed concern that over 900,000 people are negatively impacted annually from the use […]
Ownership Tussle: 3 directors resign from Lekoil Cayman
Lekoil Nigeria has disclosed that a number of its directors and senior executives have resigned with immediate effect from the Board of Lekoil Cayman. Lekoil Cayman, a Cayman Islands-registered AIM-listed holding company holds a 40 percent equity holding in Lekoil Nigeria. The directors involved include Aisha Muhammed-Oyebode, Chair of Lekoil Nigeria, who resigned as a […]
