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The Senate on Wednesday asked its Committee on Petroleum Resources (Upstream) to investigate alleged irregularities in the oil and gas sector lease renewal. The upper chamber said that the oil and gas lease renewal being undertaken by the Minister of State for Petroleum Resources, Mr. Emmanuel Ibe Kachikwu and the Department of Petroleum Resources, has…
July 18, 2018
Nigeria stands to benefit as oil rose on Tuesday at the international market, supported by gains in equities and supply concerns in Norway and Libya. Brent crude futures hit a session high of 79.51 dollars Oil reports correlation expert says Brent races to 100 dollars, in spite of despicable manipulations. United States crude futures rose…
July 11, 2018
The Secretary-General of OPEC, Muhammad Barkindo, has dismissed insinuations that pressure by Donald Trump, U.S. President, played a role in Organisation of Petroleum Exporting Countries’ decision to increase oil production. Mr Barkindo, explained yesterday that the decision to increase oil production by one million barrels a day, starting July 1, 2018, was taken without political…
June 25, 2018
The Transmission Company of Nigeria (TCN) said electricity generated into the national grid fell by 1,087.6 MW but denied the collapse of the grid. Mrs Ndidi Mbah, TCN’s General Manager Public Affairs said the fall in electricity generated led to load shedding nationwide. She said it was done to maintain stability of the grid. According…
June 18, 2018
The Nigerian National Petroleum Corporation (NNPC) has announced a new environment policy to enhance its waste management practice and reduce pollution across its areas of operation. The Corporation disclosed this in a statement signed by its spokesman Mr Ndu Ughamadu, in Abuja, on Tuesday. It said the Group Managing Director of the Corporation, Dr. Maikanti…
June 6, 2018
By 'Dotun Akintomide Socio-Economic Rights and Accountability Project (SERAP) has asked President Muhammadu Buhari to probe previous administrations of former Presidents Olusegun Obasanjo and Goodluck Jonathan over the several power projects that remain undelivered till date despite allocating billions of dollar for such projects. The call by SERAP to prosecute the two leaders, follows Buhari's…
May 23, 2018
Managers of Nigeria’s economy have every reason to smile, as Brent crude oil rose above 80 dollars a barrel on Tuesday, following concern that falling Venezuelan crude output and a potential drop in Iranian exports could further tighten global supply. Brent crude futures rose to $80.41 a barrel, by 11:12 a.m. EDT (1512 GMT). U.S.…
May 23, 2018
National Economic Council (NEC), comprising the 36 State Governors in the country has threatened to take over the responsibility of subsidising petroleum products in their states based on consumption following the huge amount of money being spent by the NNPC as fuel subsidy payment annually. The Chairman of Governors’ Forum, Gov. Abdulazeez Yari of Zamfara…
May 17, 2018
The Group Managing Director, GMD, of the Nigerian National Petroleum Corporation, NNPC, Dr. Maikanti Baru has assured that Nigeria will achieve the refining of about 400, 500 barrels of crude oil per day by the end of 2019. According to him, the said volume represents 90 percent of the combined refining capacity of all government-owned…
May 11, 2018
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The Senate on Wednesday asked its Committee on Petroleum Resources (Upstream) to investigate alleged irregularities in the oil and gas sector lease renewal. The upper chamber said that the oil and gas lease renewal being undertaken by the Minister of State for Petroleum Resources, Mr. Emmanuel Ibe Kachikwu and the Department of Petroleum Resources, has…
July 18, 2018
Nigeria stands to benefit as oil rose on Tuesday at the international market, supported by gains in equities and supply concerns in Norway and Libya. Brent crude futures hit a session high of 79.51 dollars Oil reports correlation expert says Brent races to 100 dollars, in spite of despicable manipulations. United States crude futures rose…
July 11, 2018
The Secretary-General of OPEC, Muhammad Barkindo, has dismissed insinuations that pressure by Donald Trump, U.S. President, played a role in Organisation of Petroleum Exporting Countries’ decision to increase oil production. Mr Barkindo, explained yesterday that the decision to increase oil production by one million barrels a day, starting July 1, 2018, was taken without political…
June 25, 2018
The Transmission Company of Nigeria (TCN) said electricity generated into the national grid fell by 1,087.6 MW but denied the collapse of the grid. Mrs Ndidi Mbah, TCN’s General Manager Public Affairs said the fall in electricity generated led to load shedding nationwide. She said it was done to maintain stability of the grid. According…
June 18, 2018
The Nigerian National Petroleum Corporation (NNPC) has announced a new environment policy to enhance its waste management practice and reduce pollution across its areas of operation. The Corporation disclosed this in a statement signed by its spokesman Mr Ndu Ughamadu, in Abuja, on Tuesday. It said the Group Managing Director of the Corporation, Dr. Maikanti…
June 6, 2018
By 'Dotun Akintomide Socio-Economic Rights and Accountability Project (SERAP) has asked President Muhammadu Buhari to probe previous administrations of former Presidents Olusegun Obasanjo and Goodluck Jonathan over the several power projects that remain undelivered till date despite allocating billions of dollar for such projects. The call by SERAP to prosecute the two leaders, follows Buhari's…
May 23, 2018
Managers of Nigeria’s economy have every reason to smile, as Brent crude oil rose above 80 dollars a barrel on Tuesday, following concern that falling Venezuelan crude output and a potential drop in Iranian exports could further tighten global supply. Brent crude futures rose to $80.41 a barrel, by 11:12 a.m. EDT (1512 GMT). U.S.…
May 23, 2018
National Economic Council (NEC), comprising the 36 State Governors in the country has threatened to take over the responsibility of subsidising petroleum products in their states based on consumption following the huge amount of money being spent by the NNPC as fuel subsidy payment annually. The Chairman of Governors’ Forum, Gov. Abdulazeez Yari of Zamfara…
May 17, 2018
The Group Managing Director, GMD, of the Nigerian National Petroleum Corporation, NNPC, Dr. Maikanti Baru has assured that Nigeria will achieve the refining of about 400, 500 barrels of crude oil per day by the end of 2019. According to him, the said volume represents 90 percent of the combined refining capacity of all government-owned…
May 11, 2018
