Category Archives: Oil&Gas

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 […]

OPEC set for stormy session over supply

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Iran says Venezuela and Iraq will join it in blocking a proposal to increase oil production that backed by Saudi Arabia and Russia when OPEC and its allies meet in Vienna this week. “Three OPEC founders are going to stop it,” Iran’s representative to the bloc Hossein Kazempour Ardebili said in comments to Bloomberg yesterday. […]

Electricity dips by 1,087mw due to gas rupture

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THE Transmission Company of Nigeria (TCN) yesterday said that the Nigeria Electricity Supply Industry (NESI) lost 1,087Mega Watts (MW) owing to gas pipeline rupture and challenges with Shell gas wells. The situation, according to TCN General Manager, Public Affairs, Ndidi Mbah, culminated in load-shedding nationwide to stabilise the grid. The statement noted: “As a result […]

Corporation Felicitates with Staff on improved PMS supply

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The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has felicitated with all members of staff of the Corporation on the Eid el-Fitr celebration observed on Friday across the Country. In a press statement, the Group General Manager, Group Public Affairs Division of the corporation, Mr. Ndu Ughamadu, stated that […]

VP Osinbajo commends Edo government for executing Azura power project

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Vice President Yemi Osinbajo has commended Edo Government for initiating Azura power project to generate electricity and boost the economy. Osinbajo made the commendation after inspecting facilities at the site of the power plant in Benin on Friday. The vice president, who is on a two-day official visit to the state, says the 450 megawatts […]

Osibanjo urges attraction of investments from non-OPEC

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Vice President, Yemi Osibanjo on Monday called for a re-twinkling of the African Petroleum Producers’ Organization (APPO) Fund in the same manner of the Organization of Petroleum Exporting Countries (OPEC) fund in order to attract investments from non-member countries.  This was even as Nigeria’s Minister of State for Petroleum Resources, Mr. Ibe Kachikwu, emerged the […]

Labour ministry too weak to check excesses of oil companies- NUPENG

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The Nigeria Union of Petroleum and Natural Gas Workers ( NUPENG ) has said that the Nigerian Ministry of Labour and Employment was not making concrete efforts to check the protracted labour issues concerning the operations of the multinational oil and gas companies in the country. The union is also accusing Dutch oil giant, Shell […]

DisCos lose N30b monthly to energy theft, others

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Electricity Distribution companies (DisCos) suffer N30billion revenue deficit monthly due to government’s fixed pricing per unit of electricity and theft, Ikeja Electric Plc said yesterday. The company stated this at the maiden roundtable on the Nigerian Power Sector organised by Sahara Group Limited in Victoria Island, Lagos. With The Nigerian Power Sector: Narratives for Transformation and […]