The Nigerian National Petroleum Company Exploration and Production Limited (NNPC E&P Ltd), an upstream subsidiary of NNPC and Natural Oilfield Services Ltd (NOSL), a subsidiary of Sterling Oil Exploration & Energy Production Company Ltd (SEEPCO), has commenced oil production at Oil Mining Lease (OML) 13 in Akwa Ibom State. NNPC in a statement signed by […]Read More
Nigeria has put forth 12 oil blocks in a fresh licensing round, aiming to complement a previous round involving seven blocks that was halted after last year’s governmental transition. Gbenga Komolafe, the CEO of the upstream regulator NUPRC, highlighted that the selection of these 12 blocks was meticulous, targeting international investors equipped with both financial […]Read More
The Nigeria Labour Congress (NLC) and Trade Union Congress of Nigeria (TUC) have given the Nigerian Electricity Regulatory Commission (NERC) till May 12, 2024, to reverse the hike in electricity tariff to N65/kWh or face a nationwide action across its offices. Other demands of the two labour centres include: “Immediate cessation of the discriminatory practice of segregating […]Read More
Kano Electricity Distribution Company (KEDCO) has entered into a partnership with some leading energy supply companies to develop embedded power generation and Interconnected and Isolated mini-grids with a primary focus on growing electricity supply by an additional 40 megawatt in its operational area. According to the press statement signed by Sani Bala Sani, head of corporate […]Read More
Technology group Wärtsilä has signed a ten-year Operations and Maintenance (O&M) Agreement with Mangal Industries, a Nigerian cement-producing facility, to service the partner’s 50 megawatts (MW) power plant. In a statement seen by EnergyPlanets, the order was booked by Wärtsilä in the second quarter of 2024. Owned by Mangal Industries, the new cement plant is […]Read More
First Quarter Revenue Drops to $107.21 Billion (SR402.1bn) from $111.32 Billion in 2023 Q1 Saudi Aramco has reported a net income of $27.27 billion for the first quarter of 2024, down 14.4 percent from $31.87 billion in the same period a year ago. According to the company, the decline was attributed to reduced crude oil […]Read More
…Says 30-day PMS sufficiency intact The Nigerian National Petroleum Company (NNPC) Limited has called on motorists to shun panic buying of premium motor spirit (PMS), popularly known as petrol, for the second time in three weeks due to the ongoing nationwide fuel scarcity. In a statement released on X (formerly Twitter) today and signed by […]Read More
The Nigerian Electricity Regulatory Commission (NERC) has slashed electricity tariffs for Band A customers, providing welcome relief to many Nigerians. The reduction is effective immediately. The decision follows a significant drop in the average exchange rate of the Naira to the US Dollar, which has fallen to N1400. This represents a 14 percent decrease from […]Read More
The Federal Government of Nigeria has instructed power system operators to limit the supply of electricity to international customers or off-takers to a maximum of 6% of the total available grid generation per hour. This directive, issued by the Nigerian Electricity Regulatory Commission (NERC), aims to rectify the inefficiencies and inequalities in the current system, […]Read More
Four major oil companies, Nigerian Agip Oil Company, ExxonMobil (Mobil Producing Nigeria Unlimited), Equinor, and Shell (Shell Petroleum Development Company of Nigeria Limited), has planned to sell off 26 oil blocks in Nigeria. These blocks currently produce around 346,290 barrels of oil per day on average. Gbenga Komolafe, CEO of the Nigerian Upstream Petroleum Regulatory […]Read More
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