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 burns N281bn in 6 months, as oil firms flare 228.8bscf of gas
By Michael Eboh Nigeria lost $779.9 million in six months, as oil and gas companies operating in the country flared 222.8 billion standard cubic feet (bscf) of gas from January to June 2020, according to data obtained, yesterday, from the Federal Government’s gas flare tracker. Using the Central Bank of Nigeria’s (CBN) average exchange rate […]
Sahara Energy clarifies ‘false’ media report
The attention of Sahara Energy Resource Limited (“SERL”) has been drawn to a false and misleading media report initially published by an online news portal, on July 15, 2020 under the headline: “How Late Abba Kyari Illegally Shared $200million From $1.099billion Oil Bloc Money To Sahara Energy”, which has also been re-hashed in other online […]
Oil prices rise on account of JMMC 107% output cut compliance
By Udeme Akpan Barely, a few hours after the Joint Ministerial Monitoring Committee (JMMC) of the Organisation of Petroleum Exporting Countries (OPEC) and its non-OPEC allies, popularly known as OPEC+, had put conformity to their output cut in June 2020 at 107 per cent, oil prices have recorded a marginal increase in the global market. […]
Chevron seals agreement to takeover Sasol’s interest in Escravos Gas-to-Liquids asset
Chevron Nigeria Limited (CNL), operator of the joint venture between the Nigerian National Petroleum Corporation (NNPC) and CNL, has sealed an agreement, directed at buying Sasol Middle East and India (Pty) Limited shares in Chevron Sasol EGTL Limite
OIL THEFT, ILLEGAL REFINING: Nigeria’s economy bleeds as illegal activities boom in Niger Delta – Investigation
THERE are indications that oil theft and illegal refining have attain new heights in Nigeria as Shell Petroleum Development Company Limited (SPDC), with over 600,000 barrels daily output, recorded 39 oil spill cases in the second quarter (April – June) of 2020, according to data obtained from SPDC.
