Consumers pay N1.2trn for electricity in six months — NERC
By Obas Esiedesa, Abuja Electricity consumers across Nigeria paid about N1.2 trillion for power consumed in the first six months of 2026, according to data released by the Nigerian Electricity Regulatory Commission (NERC). The figure represents revenues collected by the 11 electricity Distribution Companies (DisCos), based on NERC’s monthly commercial performance reports between January and […]
Nigeria’s crude oil exploration loses steam as rig count falls 38%
NIGERIA’s crude oil exploration has suffered a setback as the rig count, a global index for measuring activities in the upstream sector, decreased by 38 per cent to 80 in the first 11 months of 2021, from 129, recorded in the corresponding period of 2020, according to the reports of the Organisation of Petroleum Exporting Countries, OPEC.
Omicron variant: OPEC says crude oil spot prices dropped by $1.74 in Nov
The Organisation of the Petroleum Exporting Countries (OPEC) says crude oil spot prices dropped by $1.74, or 2.1 per cent, in November 2021 to average $80.37 per barrel. OPEC made this known in its Oil Market Report for December 2021 which was obtained by the News Agency of Nigeria ( NAN) on Monday in Lagos. […]
Nigeria regains top crude oil production spot in Africa ― OPEC report
Nigeria has regained the top spot among crude oil-producing countries in Africa with the nation’s crude oil production averaging 1.27 million barrels per day in November. The Organisation of the Petroleum Exporting Countries (OPEC) made this known in its Oil Market Report for December which was obtained by the News Agency of Nigeria (NAN) on […]
FG will scrutinise new investors in divested assets — Sylva
Federal Government says it will scrutinise oil companies that will bid for the takeover of assets that Shell and other oil majors will be divesting from in the country. The News Agency of Nigeria (NAN) reports that the Minister of State for Petroleum, Chief Timipre Sylva, disclosed this on Wednesday at a breakfast meeting organised […]
Nigeria to grow gas reserves to 600 trillion cubic feet — Minister
The Minister of State for Petroleum, Chief Timipre Sylva, says the Federal Government is currently working to grow the country’s gas reserve from 206 trillion cubic feet to 600 TCF. Sylva gave the assurance on Wednesday at the 23rd World Petroleum Congress in Houston, Texas, U.S. The News Agency of Nigeria (NAN) reports that the […]
