Nigeria and other African nations have expressed commitment toward the development of their 620 trillion cubic feet of proven gas reserves, targeted at bolstering energy security, industrialization and environmental sustainability.

THE Nigerian National Petroleum Company Limited, NNPCL, has kicked against Oando Plc’s acquisition of Nigerian Agip Oil Company onshore (land) assets in Nigeria.

There are indications that the rise in crude oil prices by 7.5 per cent to $85.89 per barrel in August 2023, from its $79.92 per barrel in July 2023, depreciation of the naira to N775/dollar in the official market and inflation, currently standing at 22.79 per cent, have combined to increase the landing cost of petrol to N600 per liter in the domestic market.

Since the privatisation in 2013, operators have not been able to deliver adequate and stable power to consumers.

The Ethiopian Minister of Labour and Skills, Hon. Nigusu Tilahun has presented the continental Jet Age Nation Builders Award for nation building to Nigerian-based Well-mann Group.

THE price of Nigeria’s Bonny Light, weekend, rose by three per cent to $87.64 per barrel, from $85 per barrel, due to low production by members of the Organisation of Petroleum Exporting Countries, OPEC.

Federal Government commitment to achieving zero flaring by 2060, on year-on-year, YoY, basis, gas flaring increased by 10 per cent to 138.7 million metric standard cubic feet, MSCF, of gas  in the first half (January – June) of 2023, from 126.1 MSCF in the corresponding period of 2022.

Nigeria’s average electricity generation rose by 8.6 per cent year-on-year, YoY to 3,970.33 megawatts, MW in July 2023, from 3,655.64MW recorded in the corresponding period of 2022.

National Operations Controller of lPMAN, Mr. Mike Osatuyi, speaking exclusively to PLATFORMS AFRICA, described the pioneering feat by Polaris Bank and Emadeb Energy as unprecedented, noting that they have both made it possible for Nigeria to break the age-long monopoly in the downstream sector.

THE Nigerian Association of Energy Economics, NAEE, has urged the federal government to work towards increased utilisation of natural gas in order to alleviate the suffering of Nigerians.

KPMG, a global network professional firm providing audit, tax and advisory services has disclosed explained how Nigeria’s fuel subsidy rose to N4.6 trillion or 61.4 per cent of N7.5 trillion of Oil Revenues in 2022, and N3.14trillion or 33% of N9.4 trillion of Oil Revenues in 2023.

For NNPC Limited, the past three years have been remarkable as it moved from a loss-making government controlled entity in 2018 to a vibrant, commercially driven conglomerate with a N674.1 billion profit in 2021.

THE Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA,  Sunday released four new regulations that would amongst other things guide the operations of the midstream and downstream environmental remediation fund.

Emadeb Energy Service Limited, a depot owner and one of the marketers licensed to import fuel has taken delivery of 27 million litres in Lagos.

THE Managing Director/CEO, Coleman Technical Industries, George Onafowokan, weekend, urged the President Bola Tinubu-led administration to focus on enhancing big energy projects in order to make a significant impact on the nation’s Gross Domestic Product, GDP.