Nigeria misses OPEC quota, produces 1.38m bpd in March
In its March 2026 Monthly Oil Market Report (MOMR), OPEC stated that the figures were based on data obtained through direct communication with Nigerian authorities.
Nigeria spends N120bn annually to keep refineries idle ― Petroleum engineers
By Ediri Ejoh Society of Petroleum Engineers, SPE, Nigeria Council has lamented the huge amount of money the country spent to keep its non-performing refineries. Speaking ahead of SPE Nigeria Energy Industry Transformation Summit bid to run from 25 to 27th August, the Council Chairman, Mr Joe Nwakwue said that on annual basis, the country […]
FG reiterates plan to end fuel import, inspects 12,000bpd modular refinery
By Michael Eboh Minister of State for Petroleum Resources, Chief Timipre Sylva has reiterated the determination of the Federal Government to ending fuel importation in the next couple of months, by encouraging investments in local refining of crude oil. Speaking during an inspection of the first hydro-skimming private modular refinery, being built in Yenagoa, Bayelsa […]
Why we have inaccurate electricity billing — NERC
THE Nigerian Electricity Regulatory Commission, NERC, yesterday, attributed inaccurate billing of consumers to poor installation of prepaid meters in Nigeria.
Ogoni oil exploration: Terms interested operators must meet — Host communities
Say we can’t give a legal license, but we have social license to say no By Egufe Yafugborhi – Port Harcourt Ogoni oil-producing communities in Rivers State on Wednesday declared that any oil firm desirous of resuming exploration in the area must come to terms with the people before enjoying the freedom to operate whatever […]
UAE starts up first Arab nuclear plant
The oil-rich United Arab Emirates on Saturday announced the startup of its Barakah nuclear power plant, a first for the Arab world.
Despite low oil prices, NNPC spent N58bn on fuel subsidy in February, March
By Michael Eboh Despite low crude oil prices, the Nigerian National Petroleum Corporation (NNPC) spent N58.34 billion to subsidise the consumption of Premium Motor Spirit (PMS), also known as petrol in the country, in two months, February and March 2020. According to data from its Monthly Financial and Operations Report for March 2020 obtained yesterday, […]
Fuel price: Trillions will be saved from subsidy removal ― Sylva
By Michael Eboh Minister of State for Petroleum Resources, Chief Timipre Sylva in a statement in Abuja, noted that after a thorough examination of the economics of subsidising Premium Motor Spirit (PMS), also known as petrol, for domestic consumption, the federal government concluded that it was unrealistic to continue with the burden of subsidizing PMS […]
Why we raised fuel price to N143.80 per litre ― PPPRA
…Insists FG’ll not leave pricing to marketers alone By Michael Eboh The Petroleum Products Pricing Regulatory Agency (PPPRA) has explained that the increase in its guiding price of Premium Motor Spirit, also known as petrol, to N143.80 per litre was not as a result of the prices of crude oil alone, but mainly as a […]
Israel to assist Nigeria in methanol fuel production
By Emmanuel Elebeke Nigeria and Israel have agreed to sign a bilateral agreement in the area of Methanol Fuel Production Technology that would be of mutual benefit to both countries. The agreement was sealed on Monday when the Israeli Ambassador to Nigeria, Mr Shimon Ben Shoshan paid a courtesy visit to the Ministry of Science […]
Fifty unsold cargoes of Nigeria’s crude oil await buyers in global market
By Udeme Akpan with Agency Report The global oil market remains dull as 50 unsold cargoes of Nigeria’s Bonny Light await buyers, indicating that the volatile market is still flooded with unsold stocks. Reuters, which confirmed the situation, disclosed that despite the coronavirus pandemic, India purchased a bulk of the nation’s crude yesterday. It stated: […]
