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.
Scrap, reverse electricity privatisation exercise, FG told
Organised Labour in Nigeria has urged the Federal Government to scrap and reverse the electricity privatisation exercise in the country.
Seplat Energy’s revenue rises 58.6% to N100.6bn
Seplat Energy’s revenue rises 58.6% to N100.6bn
Upstream: Stakeholders kick against IOCs onshore assets divestment
By Prince Okafor Stakeholders in the Niger Delta, yesterday, faulted moves by International Oil Companies, IOCs, to divestment their onshore assets in preference to offshore fields. The stakeholders stated that the divestment move was contrary to the transition advocacy to renewable energy sources and a ploy to evade development obligations and responsibility for polluting the […]
Oil Bunkering Fire: FG should integrate artisanal refineries — Rep
By Prince Okafor The Federal Government has been urged to integrate artisanal refineries into the country’s refining regulations for the oil and gas industry. This was the submission of Kingsley Uju-Chima, the representative of Ohaji/Egbema, Oguta, Oru Federal Constituency, Imo State, at the House of Representatives, following a visit to the site of Friday’s fire […]
ELECTRICITY: Blackout persist as generation falls 39.78% to 2,464MW
By Obas Esiedesa The ongoing widespread blackout across the country will persist as power generation dropped by 39.78 per cent yesterday to 2,464.7 Megawatts as at 3pm from 4,097MW peak generation recorded on Sunday. Checks by Energy Vanguard on data released by the National System Operator (NSO) showed that 16 plants were on the grid […]
N4trn Bill: Petrol subsidy payment unsustainable — Ex-NNPC official
By Obas Esiedesa The growing amount of money needed to pay for petrol subsidy that would see the Federal Government spend N4 trillion in 2022 is unsustainable, a former Executive Director, Corporate Planning and Strategy, Nigerian National Petroleum Corporation (NNPC), Dr. Tim Okon has said. Okon who spoke on a national television programme monitored by […]
PHED condemns attacks on electricity infrastructure, calls for caution
By Peter Egwuatu The Port Harcourt Electricity Distribution (PHED) Plc, has condemned the incessant destruction of its electricity facilities by motorists. The company therefore appealed to the general public to help protect critical electricity infrastructures by reporting activities of persons and corporate organisations whose actions were detrimental to the stable power supply in the region. […]
Nigeria’s oil production rises 5.07% to 1.388mbd in Q1
By Obas Esiedesa Nigeria’s daily crude oil production in the first quarter of 2022 rose by 5.07 percent to 1.388 million barrels compared to 1.321 million barrels produced daily in the fourth quarter of 2021. According to the latest data released by the Organisation of Petroleum Exporting Countries (OPEC) in its Monthly Oil Market Report, […]
‘Power sector needs additional $410bn investment’
By Ediri Ejoh Despite spending about N1.3 trillion in the past few years on the power sector, the Federal Government has said that it seeking additional $410 billion investment to strengthen the nation’s transmission and distribution infrastructure. The Vice President Yemi Osinbajo made this known at a virtual event on climate finance themed, Climate Finance […]
LPG price rises 25% in 3 weeks
By Ediri Ejoh The price of Liquefied Petroleum Gas, LPG, otherwise known as cooking gas, has risen by 25.7 per cent in the last three weeks as 12.5kg now sells at N8,800 from N7000. Vanguard findings reveal that one Kg rose by 11 per cent to N1000 from N900, 3kg rose by 10 per cent […]
P-Harcourt refinery to refine 60,000 bpsd by Q1 2023 — FG
Minister of State for Petroleum Resources, Mr Timipre Sylva, has said the Port Harcourt refinery was on course to resume operations by the first quarter of 2023. Sylva spoke while fielding questions from journalists shortly after the facility tour in Eleme, Rivers, on Tuesday. In 2021, the Nigerian National Petroleum Company, NNPC, Limited commenced the […]
Nigeria’s crude oil production dropped to 1.354mb/d in March ― OPEC
The Organisation of the Petroleum Exporting Countries (OPEC) says Nigeria’s crude oil production declined to an average of 1.354 million barrels per day in March 2022. OPEC made this known in its Oil Market Report for April 2022 which was obtained by the News Agency of Nigeria ( NAN) on Tuesday in Lagos. The report […]
Energy Crisis: Europe turns to Nigeria, others for LNG
By Prince Okafor European countries, yesterday, continued their quest to have Nigeria export more Liquiefied Natural Gas, LNG, to the European Union, as they seek a move away from Russian energy dependency. Russia’s invasion of Ukraine is forcing Europe to diversify its energy supply. Energy Vanguard gathered that LNG is fast becoming the low carbon […]
Nigeria exports $1.86bn oil to India in Q4 2021
By Ediri Ejoh Nigeria exported crude oil worth N774.5 billion or ($1.86 billion) in the fourth quarter of 2021 to India, latest data from Nigeria Bureau of Statistics, NBS, has indicated. Crude oil was followed by exports of liquefied natural gas at N89.8 billion and liquefied petroleum gas otherwise known as cooking gas at N6.7 […]
Energy Crisis: Power generation drops 68% to 1,152MW
By Obas Esiedesa Power generation to the National Grid continued to struggle yesterday with 10 power plants generating 1,155.70 Mega Watts as at 2.00pm. The power on the grid was a 68.42 percent drop from the 3,658.80MW peak generation recorded on Sunday. Data on the Independent System Operator (ISO) portal, a semi-autonomous unit at the […]
