By Michael Eboh Nigeria’s Liquefied Petroleum Gas, LPG, import dipped by 35.13 per cent to 57,187.75 metric tonnes in vacuum, MT VAC, in September 2020, against 88,157.108 MT VAC recorded in the previous month, August 2020. According to the September 2020 LPG supply data of the Petroleum Products Pricing Regulatory Agency, PPPRA, the LPG, also […]

By Michael Eboh The Presidential Amnesty Programme, PAP, despite gulping billions of naira annually over the last 11 years, had failed to address various challenges that necessitated its setting up in the first instance, according to a report published by international development consulting firm, Nextier Security, Peace and Development, SPD. Presenting key findings in the […]

By Prince Okafor Nigeria’s indigenous oil and gas exploration and production company, Lekoil, has announced net loss of $7.9 million in its unaudited interim results for the six months ended 30, June 2020. The company’s loss in the first six months of 2020 increased by 34 per cent, when compared to a loss of $5.2 […]

By Chris Ochayi The management of Abuja Electricity Distribution Company, AEDC, has completed arrangements to install free 900,000 meters for customers under its franchisee in the next eighteen months. The meters being delivered under the National Mass Program, NMMP, according to the Managing Director of AEDC, Engr. Ernest Mupwaya, will begin with installation of 101,000 […]

By Prince Okafor The Lubricants Producers Association of Nigeria, LUPAN, has petitioned the Federal Government over the imposition of N1.23 kobo administrative charge on base oil by the Petroleum Products Pricing Regulatory Agency, PPPRA. The administrative charge was N0.10 per litre before the hike. In its petition, titled: ‘Appeal for the Cessation of Administrative Charge […]

By Michael Eboh The Federal Government is seeking to bring transparency in oil industry and impose sanctions on firms that fail to, or partially publish details of their contracts as well as payments to governments and private sector annually. The Federal Government is also seeking to compel oil and gas firms to submit data of […]

Saudi Arabia’s energy minister said Monday that the OPEC+ deal on oil output cuts could be tweaked if there is consensus within the expanded group of crude-producing nations. In August, ministers of OPEC nations and other major producers stuck to an agreement to lower oil production, underlining that only strict compliance could restore stability to […]

   By Ediri Ejoh The Lubricants Producers Association of Nigeria, LUPAN, has petitioned the Federal Government over the imposition of N1.23 kobo administrative charge on base oil by the Petroleum Products Pricing Regulatory Agency (PPPRA). In its petition – Appeal for the Cessation of Administrative Charge of N1.23K on Base Oil by Petroleum Products Pricing […]

There are indication that the country’s economy may plumate further, as it losses about 10,000 barrels per day of oil production to an explosion at Oil Mining Lease (OML) 40 operated by the Nigerian Petroleum Development Company (NPDC), an upstream subsidiary of the corporation.

Despite availability of the N100 billion Healthcare Intervention Fund, HIF, the scarcity in foreign exchange, forex, market has now posed fresh challenge to the effective utilization of the funds by the pharmaceutical industry operators.

By Prince Okafor With over 10 million households in Nigeria yet to be provided with electricity meter, the Federal government has commenced the National Mass Metering Programme (NMMP) in partnership with the eleven Electricity Distribution Companies, DISCO, Mojec International Limited, along with other metering manufacturing companies in the country. The NMMP is to roll out […]

By Prince Okafor The Nigerian Electricity Regulatory Commission (NERC) has disclosed that 59.6 per cent of electricity consumers in the country were still on estimated billing as at March 2020. NERC made this known in its ‘First Quarter 2020 Report’ which was obtained by our correspondent in Lagos. The regulatory agency said the huge metering […]

Energy giant Saudi Aramco on Tuesday posted a 44.6 per cent slump in third-quarter profit, as the coronavirus pandemic weighs heavily on demand for crude oil. “Net income for the third quarter of 2020 was 44.21 billion Saudi riyals ($11.79 billion),” the company said in a statement, compared to $21.3 billion in the same period […]

Nigeria recorded losses in power generation volume valued N243 billion between January and October this year. This is contained in the October 2020 electricity generation statistics released by the Association of Power Generation Companies (APGC), the umbrella body of electricity Generating Companies, GENCOs, in Nigeria.

•To earn $150m from taxes, $25m from royalties annually The Secretary of the Presidential Artisanal Gold Mining Initiative, PAGMI, Hajiya Fatima Shinkafi, has disclosed that more investors are indicating interest in Nigeria’s gold value chain. She further projected that one of the key programmes implemented by the PAGMI, the integration of artisanal gold mining, would […]