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.
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 […]
Lagos unveils electricity policy for reliable, affordable energy
Lagos State Government on Wednesday, unveiled the ”Lagos State Electricity Policy”, geared at providing cleaner, reliable, affordable and uninterrupted power supply to residents. Speaking at the unveiling of the policy, organised by the Ministry of Energy and Mineral Resources, Lagos State Governor, Mr Babajide Sanwo-Olu, said that what residents wanted was regular power supply. Sanwo-Olu […]
FG to allow only companies with capacity to buy divested oil assets
By Obas Esiedesa – Abuja The Federal Government has said henceforth only companies with capacity to operate divested assets in the oil and gas industry would be allowed to buy them. The Minister of State Petroleum Resources, Chief Timipre Sylva who disclosed this at separate business meetings with top management of Chevron and Schlumberger at their […]
No life lost to Bayelsa oil spill incident, says NUPRC
By Obas Esiedesa – Abuja The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disclosed that it was closely monitoring the oil spill at the Santa Barbara Well 1 operated by AITEO Eastern Exploration and Production Company in Bassambiri, Nembe Local Government Area of Bayelsa State. The Commission clarified that there was no life lost as […]
Power Generation: Nigeria’s average unutilized power rises 291% to 3,008.1MW in 8 years
By Ediri Ejoh Average Nigeria’s unutilized power generation has increased year-on-year, YoY, to 3,008.18 Megawatts, MW in 2021, from 1,030.80 MW in 2013, indicating an increase of 291 per cent in the past eight years, due mainly to lack of infrastructure. This showed that adequate investment has not been made over the years to transmit […]
How I understudied Briton, Italian experts at Warri refinery – Leemon Ikpea
Attaining the age of 30 may not sound very unique to an ordinary mind, but to a discerning person, it is a great deal.
Electricity: Lagos moves to deliver 50 megawatts/20 hrs to residents
The Lagos State Government has disclosed plans to deliver 50 MegaWatt of electricity for 20 hours daily to residents through the Lagos State Electricity Policy. Governor of Lagos, Mr Babajide Sanwo-Olu made this known in a statement on Saturday signed by Mr Kayode Oyekanmi, Director Public Affairs, Ministry of Commerce, Industry and Cooperatives (MCIC). Sanwo-Olu said the […]
NLC rejects planned petrol price increase
The Nigeria Labour Congress (NLC) has called on the Federal Government to consider options to help the country embrace developmental governance and accountable leadership, while rejecting the planned petroleum price increase. NLC President, Comrade Ayuba Wabba, made the call in a statement he issued to newsmen in Abuja, entitled: ”Nigerian workers refused to take the bait’’. According […]
FG adopts new strategy to tackle oil spill in Niger Delta
The National Oil Spill Detection and Response Agency (NOSDRA) says it has rolled out strategies to tackle incessant oil spills in communities in the Niger Delta. NOSDRA Director-General, Idris Musa, disclosed this at a one-day Community-based Disaster Risk Reduction (DRR) plan on Tuesday in Port Harcourt, organised by NOSDRA to create awareness on the dangers […]
FG suspends inauguration of new NNPC board
By Omeiza Ajayi – Abuja The Federal Government has suspended the inauguration of the newly constituted board of the Nigerian National Petroleum Company Limited (NNPC) earlier scheduled for Wednesday. Secretary to the Government of the Federation SGF, Mr Boss Mustapha disclosed this in a statement issued Tuesday in Abuja. ALSO READ: Hike: We don’t have […]
Petrol may cost N340/litre after subsidy removal in 2022 — Kyari
Malam Mele Kyari, Group Managing Director and Chief Executive Officer of Nigerian National Petroleum Company Limited, has said that subsidy would have been eliminated in 2020 but certain factors prevented it. He, however, said that the law provides that by the end of February 2022, the nation should be out of the subsidy regime. He […]
Tariff Hike: Electricity generation stranded at 4,850MW
By Obas Esiedesa Nigeria’s power generation in the past seven days averaged 4,850 megawatts for its over 200 million population with the Federal Government planning to effect a new electricity tariff increase in 2022. Data released by the Nigeria Electricity System Operator, an autonomous unit of the Transmission Company of Nigeria, covering the period November […]
