The Minister of State for Power, Hajia Zainab Ibrahim Kuchi, has said that Federal Government’s commitment to settlement of Severance Benefits of Power Holding Company of Nigeria (PHCN), Staff is informed by the relevance of the exercise to the attainment of the Power Sector Roadmap and the overall realization of the Transformation Agenda of the administration.

Indigenous marginal field operator, Waltersmith Petroleum Oil Limited, is currently musing setting up a 5,000 barrel per day capacity greenfield refinery, to be located in Ohaji Egbema, Imo State.

Iranian airlines are owing National Iranian Oil Products Distribution Company, NIOPDC, about $467 million for fuel, said Mostafa Kashkouli, Managing Director, NIOPDC.

Britain is grappling with a potential gas supply crisis as a late blast of winter depletes stored reserves, coal power plants close and pending maintenance in Norway threatens to further squeeze supply.

United States’ domestic crude oil production is on track to surpass imports, according to Energy Information Administration, EIA.

The EIA said monthly crude oil production in the Lower 48 could surpass net imports this year for the first time since 1995, adding that by the end of next year, the gap between how much oil the U.S. imports and what it produces could grow to roughly two million barrels per day, as domestic oil output climbs past eight million barrels per day, the highest level since 1988.