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By Tsvetana Paraskova The OPEC+ ministerial meeting is discussing gradual production increases over the next three months, sources say, while the group was still debating as of 11:10 a.m. EDT on Thursday how to proceed with its oil supply management policies. The OPEC+ alliance is reportedly debating raising its oil output by 350,000 bpd in each…
April 2, 2021
The Chief Executive Officer (CEO) of Proton Energy, Mr Oti Ikomi has advised the Nigerian government on the fresh impetus needed to scale up power generation, transmission and investment in the country. According to him, latest reports by the National Electricity Regulator Commission (NERC) have shown improvement in certain fundamentals of the power sectors,…
March 30, 2021
Following the ongoing speculations about the hike in the price of Premium Motor Spirit (PMS), also known as Petrol, the Nigerian National Petroleum Corporation (NNPC), on Friday promised to maintain the current ex-depot price, pending the conclusion of engagement with the organized labour and other stakeholders. Disclosing this, Mr Kennie Obateru, the General Manager, Public…
March 26, 2021
Expect PIB Passage In April, Sylva Tells Nigerians From Segun Amure, (The New Diplomat's Abuja Bureau) The Nigerian National Petroleum Corporation (NNPC) says it pays N120 billion every month to subsidise Premium Motor Spirit (PMS), also known as petrol, hinting that price may soon go up as the corporation may not continue to bear the…
March 26, 2021
By David Messler One of the things that doesn't get a lot of discussion in the press is the under-the-table relationship Iran and China have had when it comes to oil. At first glance, they wouldn't seem to have a lot in common. One is a theocracy with a radical view of non-believers and the…
March 24, 2021
By Abiola Olawale (The New Diplomat's Southwest Bureau) Chief Timipre Sylva, Minister of State for Petroleum Resources, has assured Nigerians that the Federal Government would ensure a speedy completion of the renovation works on Port Harcourt refinery, adding that citizens should hold him and the government accountable should the project fail. The assurance by Sylva…
March 22, 2021
By Irina Slav The United States has warned China that it will not turn a blind eye to rising Iranian oil exports to Chinese ports, the Financial Times reported, citing a senior Biden administration official. According to the report, Washington has not missed the substantial increase in Iranian crude shipments to China. It has reminded Beijing that…
March 21, 2021
By Abiola Olawale (The New Diplomat's SouthWest Bureau) The Federal Executive Council(FEC) on Wednesday approved the sum of $1.5 billion for the rehabilitation of the Port Harcourt refinery in Rivers State. Finance experts project that at an exchange rate of N410 to a dollar, the approved sum of $1.5 bn might statistically equate to about…
March 17, 2021
Agency Report -- A Milan court on Wednesday acquitted energy companies ENI and Shell in Nigeria’s oil industry’s biggest corruption scandal. Also acquitted by the court was a long list of past and present managers of the firms, including Eni Chief Executive Claudio Descalzi. The verdict, read out in court by judge Marco Tremolada, comes…
March 17, 2021
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By Tsvetana Paraskova The OPEC+ ministerial meeting is discussing gradual production increases over the next three months, sources say, while the group was still debating as of 11:10 a.m. EDT on Thursday how to proceed with its oil supply management policies. The OPEC+ alliance is reportedly debating raising its oil output by 350,000 bpd in each…
April 2, 2021
The Chief Executive Officer (CEO) of Proton Energy, Mr Oti Ikomi has advised the Nigerian government on the fresh impetus needed to scale up power generation, transmission and investment in the country. According to him, latest reports by the National Electricity Regulator Commission (NERC) have shown improvement in certain fundamentals of the power sectors,…
March 30, 2021
Following the ongoing speculations about the hike in the price of Premium Motor Spirit (PMS), also known as Petrol, the Nigerian National Petroleum Corporation (NNPC), on Friday promised to maintain the current ex-depot price, pending the conclusion of engagement with the organized labour and other stakeholders. Disclosing this, Mr Kennie Obateru, the General Manager, Public…
March 26, 2021
Expect PIB Passage In April, Sylva Tells Nigerians From Segun Amure, (The New Diplomat's Abuja Bureau) The Nigerian National Petroleum Corporation (NNPC) says it pays N120 billion every month to subsidise Premium Motor Spirit (PMS), also known as petrol, hinting that price may soon go up as the corporation may not continue to bear the…
March 26, 2021
By David Messler One of the things that doesn't get a lot of discussion in the press is the under-the-table relationship Iran and China have had when it comes to oil. At first glance, they wouldn't seem to have a lot in common. One is a theocracy with a radical view of non-believers and the…
March 24, 2021
By Abiola Olawale (The New Diplomat's Southwest Bureau) Chief Timipre Sylva, Minister of State for Petroleum Resources, has assured Nigerians that the Federal Government would ensure a speedy completion of the renovation works on Port Harcourt refinery, adding that citizens should hold him and the government accountable should the project fail. The assurance by Sylva…
March 22, 2021
By Irina Slav The United States has warned China that it will not turn a blind eye to rising Iranian oil exports to Chinese ports, the Financial Times reported, citing a senior Biden administration official. According to the report, Washington has not missed the substantial increase in Iranian crude shipments to China. It has reminded Beijing that…
March 21, 2021
By Abiola Olawale (The New Diplomat's SouthWest Bureau) The Federal Executive Council(FEC) on Wednesday approved the sum of $1.5 billion for the rehabilitation of the Port Harcourt refinery in Rivers State. Finance experts project that at an exchange rate of N410 to a dollar, the approved sum of $1.5 bn might statistically equate to about…
March 17, 2021
Agency Report -- A Milan court on Wednesday acquitted energy companies ENI and Shell in Nigeria’s oil industry’s biggest corruption scandal. Also acquitted by the court was a long list of past and present managers of the firms, including Eni Chief Executive Claudio Descalzi. The verdict, read out in court by judge Marco Tremolada, comes…
March 17, 2021
