Category Archives: Oil&Gas

Dangote Refinery to commence petroleum products sale early 2020

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The Dangote refinery plans to start selling petrol, diesel and aviation fuel by early 2020, but the fertilizer plant, will start producing urea this year, Edwin Devakumar, the group executive director told Bloomberg. The $10 billion refinery, set to be one of the world’s largest and which can process 650,000 barrels of crude a day, […]

World powers back Iran oil exports

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Iran’s remaining partners in the 2015 nuclear deal which aimed at stopping Iran from building the atomic bomb in return for sanctions relief that promised greater trade and investment has vowed to keep Iran plugged into the global economy despite the U.S sanctions threat. The accord signed three years ago, in Vienna, Austria agreed on […]

Governor Ahmed hails supreme court verdict over Saraki’s case

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Kwara State Governor, Dr Abdulfatah Ahmed, has hailed the Supreme Court verdict on Senate President, Dr Bukola Saraki’s assets declaration and sundry charges instituted against him before the Code of Conduct Tribunal. The Governor, in a statement by his Chief Press Secretary, Abdulwahab Oba described the apex court as a bastion of democracy in the […]

Oil prices ease

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Oil prices dropped yesterday, falling 97 cents to $73.17. Oil’s uptick in recent weeks has brought the commodity to levels not seen since it started a rapid descent in November 2014 that culminated in a brief trip below $30 per barrel in February 2016. And consequently, Fourth of July gasoline prices notched a four-year high, […]

NLNG, others sign pact on new vessel to boost LPG supply

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Nigeria Liquefied Natural Gas Limited (NLNG), and E. A. Temile and Sons Company Limited, have  sealed an agreement for the construction of a new liquefied petroleum gas (LPG) vessel to boost supply to domestic market. E. A. Temile and Sons Company is a wholly Nigerian company, under a contract with Hyundai Mipo Dockyard, South Korea. […]

‘DisCos sell power at shortfall of N49.38 per kilowatt’

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The inability of the power distribution companies (DisCos) to meet their obligations to customers is because they incur huge losses in the market, the Executive (ED) Director, Research and Planning, Association of Nigerian Electricity Distributors (ANED), Mr. Sunday Oduntan, has said. He said the power firms are recording a shortfall of N49.38 per kilowatts. They […]

FG seeks less than $15/barrel cost

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The Federal Government, on Tuesday, said that it was seeking to reduce cost of crude oil production to less than $15 per barrel. It has also planned that henceforth, approval for projects in the petroleum industry would be based on the cost of producing oil and gas from the project. The Minister of State for […]

Buhari intervenes in FAAC, NNPC feud

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President Muhammadu Buhari has offered to intervene in the disagreement between the Federation Account Allocation Committee (FAAC) and the Nigerian National Petroleum Corporation (NNPC).  This disagreement had frequently disrupted the monthly Federation Allocation disbursements. It was gathered from sources present at the meeting that the present logjam in the monthly disbursements was as a result […]

Aiteo Wins Three Awards at Guardian Oil & Gas Roundtable

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Nigerian energy giant, Aiteo group has emerged winner in three different categories at the Guardian Oil & Gas Roundtable and Awards, recently held in Lagos. The Aiteo group was adjudged and awarded winner in the following categories: Oil & Gas CSR/Sustainability Company of the Year (Upstream), Oil and Gas Company of the Year (Upstream Indigenous) […]

Electricity generation to national grid drops by 1,087.6MW- TCN

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The Transmission Company of Nigeria (TCN) says there has been a drop in the electricity generated into the national grid by a total of 1,087.6 Mega Watts of Power. According to a statement by Mrs Ndidi Mbah, TCN’s General Manager, Public Affairs in Abuja on Sunday, the drop in electricity generated into the national grid […]