Mele Kyari, the Group Chief Executive Officer of Nigerian National Petroleum Company (NNPC) Limited, announced on Wednesday that the state-owned oil company has contributed ₦10 trillion to the federation account. He highlighted that this achievement makes NNPC the highest taxpayer in Nigeria and the only company in the country that consistently publishes 100% of its […]Read More
The Nigerian Electricity Regulatory Commission (NERC) has confirmed that four state governments—Enugu, Ekiti, Ondo, and Imo—are now set to assume control of electricity generation, transmission, and distribution within their respective states. This follows the ongoing transfer of regulatory authority from NERC to state-level regulators. In an announcement shared on the social media platform X, NERC […]Read More
Oil prices climbed for a third consecutive session on Monday, with Brent crude surpassing $80 per barrel, marking its highest level in over four months. The rally is attributed to expanded U.S. sanctions targeting Russian crude exports to major buyers like China and India. Brent crude futures increased by $1.14 (1.43%) to $80.90 per barrel […]Read More
Slovak Prime Minister Robert Fico has suggested he is open to the possibility of resuming natural gas transit through Ukraine after the current five-year transit agreement between Moscow and Kyiv expires. Fico has urged Ukrainian President Volodymyr Zelenskiy to restart the transit, citing the impact of elevated energy costs on Slovakia and the broader region. […]Read More
Shell has signed a significant engineering, procurement, and construction (EPC) contract with China’s Offshore Oil Engineering Company (COOEC) to advance Nigeria’s gas production. COOEC will deliver a platform jacket and topsides for the HI gas and condensate project in Nigeria’s Offshore Mining Licence (OML) 144. Key Milestones in Offshore DevelopmentSituated 50 kilometres offshore in the […]Read More
The management of BUA Refinery and Petrochemicals has refuted reports claiming its 200,000 barrels per day (bpd) refinery in Akwa Ibom is 90 percent complete. In a statement shared via the Group’s official X account (formerly Twitter) on Sunday, the company acknowledged significant progress in the project while clarifying that the facility has not yet […]Read More
Oil marketers under the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) have called on the Federal Government to privatise state-owned refineries, including the 125,000 barrels per day Warri and Kaduna refineries, as part of broader reforms to enhance transparency, competition, and operational efficiency in the downstream petroleum sector. In a report titled 2024 […]Read More
The Nigerian National Petroleum Company (NNPC) Limited has announced that the Port Harcourt Refinery, with a capacity of 150,000 barrels per day (bpd), and the Kaduna Refinery are undergoing extensive rehabilitation to achieve world-class operational standards. This was revealed in a statement issued by Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd., in response […]Read More
The Jigawa State Government has approved and allocated N1 billion to acquire a 10 percent stake in the Kano Electricity Distribution Company (KEDCO). Sagir Musa, the Commissioner for Information, Youths, Sports, and Culture, made his known in a statement on Tuesday that the state executive council had approved the release of the funds. Musa said […]Read More
The Nigerian Electricity Regulatory Commission (NERC) has officially transferred regulatory oversight of Ogun State’s electricity market to the Ogun State Electricity Regulatory Commission (OGERC), in line with the provisions of the amended Electricity Act 2023. Seven states, including Edo, Enugu, Ekiti, Imo, Ondo, Oyo, and Lagos, have also gained regulatory autonomy over their respective electricity […]Read More
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