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.
NNPC trading surplus rise by 314% to N39.85bn in one month
***sold 1.41bn litres of petrol in one month By Prince Okafor The Nigerian National Petroleum Corporation (NNPC) has disclosed that its trading surplus for the month of February 2021 increased to N39.85 billion. This is an increase of 314.24 per cent when compared to N9.62 billion surplus recorded in the preceding month under review. Trading […]
OML 118: NNPC, SNEPCo, others sign 20 years deep water agreement
The Nigerian National Petroleum Corporation (NNPC) and its Production Sharing Contract (PSC) partners have executed agreements to renew Oil Mining Lease (OML) 118 for another 20 years. The partners are Shell Nigeria Exploration and Production Company (SNEPCo), Total Exploration and Production Nigeria Limited (TEPNG), Esso Exploration. and Production Nigeria Limited (EEPNL) and Nigerian Agip Exploration (NAE) […]
Petrol: No price increase in June — FG
By Udeme Akpan DESPITE pressure, the Federal Government, Friday, said it would not increase the price of Premium Motor Spirit, PMS, in June 2021 in order not to disrupt ongoing engagement with labour. The Nigeria Governors’ Forum, NGF, had in their virtual meeting, Wednesday, considered the report of a committee headed by Kaduna State Governor, […]
Nigeria’s rig count drops by 67%
By Bestman Michael Nigeria’s rig count has dropped to five in April 2021, thus indicating a decrease of 67 percent compared to 16 recorded in the corresponding period of 2020, according to the Organisation of Petroleum Exporting Countries, OPEC. In its May 2021 Oil Market Report obtained by Energy Vanguard, OPEC, also disclosed that the […]
Oil Spill: Agip shuts down Idu Well 11 in Bayelsa
The Nigerian Agip Oil Company (NAOC) on Wednesday confirmed an oil leak from its Idu oilfields at Egbebiri settlement within Biseni in Yenagoa Local Government Area in Bayelsa, resulting in its shutdown. The cause of the leakage, according to the Joint Investigative Visit (JIV) report on the incident sighted by the News Agency of Nigeria […]
OPEC’s compliance with oil production cuts deal 122% in April ― Report
The Organisation of the Petroleum Exporting Countries (OPEC) says its compliance with the OPEC+ oil production cuts deal totalled 122 per cent in April, as production averaged 25.08 million barrels per day. In March, OPEC’s compliance with the production cuts deal was 124 per cent, at 25.04 million barrels per day. “According to secondary sources, […]
Nigeria’s oil output drops by 30% in four years — Investigation
By Udeme Akpan In an apparent reflection of the measures taken to achieve stability in the global market by the Organisation of Petroleum Exporting Countries, OPEC, pipeline vandalism and oil theft in the Niger-Delta, Nigeria’s oil production has fallen by 30 per cent in the last four years to 1.423 million barrels per day, mb/d […]
Apapa bridges at risk of collapse over weight of parked heavy-duty trucks — Experts
By Kingsley Adegboye Bridges in Lagos, particularly Apapa axis, are at risk of collapse because of the weight of parked heavy-duty trucks on them. These bridges are under great stress from immobile articulated vehicles, a situation worsened by recurring gridlocks and the deplorable state of roads leading to ports and tank farms. An empty 20-feet […]
Metering: FG takes delivery of 656,752 prepaid meters
By Udeme Akpan The Federal Government has taken delivery of 656,752 prepaid meters, under the phase 0 of the Central Bank of Nigeria-funded National Mass Metering Programme, NMMP. This represents almost 85 percent of the one million meters to be provided to Nigerians, whose bills are still based on estimation. However, of the 656,752 prepaid […]
FG to intensify diversification of energy sector ― Minister
The Minister of State for Power, Mr Goddy Agba, says the ministry will continue to support the Federal Government’s policies on diversification of the energy sector. Agba said this on Friday during the inauguration of the 60kwp Solar Hybrid Mini-Grid in Ikangha Mkpansi Community in Ikom Local Government Area in Cross River State. The minister […]
