The World Bank and the African Development Bank (AfDB) have announced plans to come together and provide access to energy for 300 million Africans by 2030. According to the Banks, the plan will cost around $30 billion and is to be funded by the World Bank through the International Development Association (IDA) and the AfDB […]Read More
Heineken Lokpobiri, the Minister of State for Petroleum Resources, has said that the federal government is on the verge of approving the acquisition of Mobil Producing Nigeria Unlimited (MPNU) assets by Seplat Energy. He said on Tuesday that President Bola Tinubu is committed to the closure of the acquisition at the Facts Behind the Figures […]Read More
The Dangote Petroleum Refinery is now selling Automotive Gas Oil (AGO), popularly known as diesel, at a discounted price of N1000 per litre. This marks a decrease from the previous price of N1200 per litre set by the refinery two weeks ago. Aliko Dangote, Chairman of the Dangote Group, had previously stated that the refinery […]Read More
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has set up a new template for the supply of crude oil in Nigeria. The development is to boost the activities of local refineries as well as ensure the availability of petroleum products. Gbenga Komolafe, the CEO of of NUPRC, who made this known during a press briefing in Abuja […]Read More
Nigeria’s vast Dangote refinery recently shared videos on the social media platform X (formerly Twitter), showcasing the loading of fuel onto both ships and trucks. In one video, the Golden Lavender vessel can be seen being loaded with diesel. Ship-tracking data from Bloomberg indicates that the tanker’s draft readings suggest recent cargo intake. Shipping information […]Read More
NIPCO Gas announced that the price of Compressed Natural Gas (CNG) is now N200 per standard cubic meter (scm). According to the company, this move aims to provide clean and affordable energy to more people. In addition, the company unveiled that it has completed four CNG stations as an alternative to Premium Motor Spirit (PMS) […]Read More
The United States has increased its production of oil and gas dramatically during the past two years, even as it has increased its capacity for renewable energy. Energy shortages and threats to numerous countries’ energy security occurred worldwide when Russia invaded Ukraine and sanctions were imposed on Russian energy. Because of this, a large number […]Read More
Aliko Dangote, Chairman of Dangote Group, yesterday, said yesterday that his refinery selling diesel at discounted prices would provide relief to Nigeria’s inflation woes. He disclosed while paying an Eid-el-Fitr homage to President Bola Ahmed Tinubu at his Lagos home. While speaking with newsmen, he said that the naira exchange rate has improved in recent […]Read More
Geregu Power, Nigeria’s first publicly listed power business, has reported N50.4 billion in revenue for the first quarter of 2024. This is over 3.5 times the N14.2 billion revenue reported during the same period last year. The company followed up on its performance with even greater bottom-line profitability growth. Its pre-tax earnings for the time […]Read More
In a new revelation by the Petroleum Technology Association of Nigeria, the country’s economy suffers a staggering $15 billion loss annually, equivalent to the national budget, due to a daily shortfall of 500,000 barrels of crude oil production. Wole Ogunsanya, Chairman of the Petroleum Technology Association of Nigeria (PETAN), revealed the startling during a recent […]Read More
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