The Federal Government has given the green light to Seplat Energy’s purchase of Exxon Mobil Corp’s onshore assets, more than two years after the $1.28 billion deal was first agreed, according to the head of the country’s upstream regulatory body on Monday. The deal, initially announced in February 2022, had been under regulatory review, awaiting […]Read More
Hexing Livoltek, a global leader in technology, has announced plans to establish a manufacturing facility in Nigeria, focusing on advanced metering systems and solar energy solutions. This move is expected to boost local employment while supporting Nigeria’s growing demand for renewable energy. The announcement was made during a luncheon attended by Adebayo Adelabu, the Minister […]Read More
Nigerians have again been plunged into darkness after the national power grid collapsed for the third time in a week. The constant power outages have only deepened frustrations across the country, affecting businesses, homes, and essential services that rely on a stable electricity supply. The latest grid failure occurred early Saturday morning, leaving many states […]Read More
A compressed natural gas (CNG) tank explosion at a NIPCO station in Aduwawa, Benin City, Edo State, has left several people injured. Although no fatalities have been reported, the incident has sparked serious safety concerns. Footage of the aftermath, shared widely on X (formerly known as Twitter), shows the devastating scene. A station wagon, with […]Read More
Oil companies operating in Nigeria have pointed to host communities as the main culprits behind oil theft and pipeline vandalism in the region. This claim was made during a public hearing on oil theft, pipeline vandalism, and their effects on oil-producing states, held by the House of Representatives in Abuja. The companies highlighted that environmental […]Read More
A consortium led by the U.S. oil giant ExxonMobil has completed the initial exploration phase southwest of the Greek island of Crete and has opted to proceed to the second stage, according to Greece’s state-owned Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA) on Thursday. ExxonMobil and Helleniq Energy are collaborating on these exploration studies […]Read More
The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has expressed concern over the increasing petrol pump prices in Lagos and Abuja, cautioning that this could lead to widespread economic challenges nationwide. Dele Oye, the National President of NACCIMA, raised these issues in a statement issued on Wednesday in Lagos. Oye pointed […]Read More
The Nigerian National Petroleum Company (NNPC) Limited has increased the price of Premium Motor Spirit, commonly known as petrol, from N855 per litre to N998 in Lagos and N1030 in Abuja. This price hike, which took effect on Wednesday, was noticeable at all NNPC depots in Lagos State and Abuja. The latest pricing reflects a […]Read More
Nigeria’s importation of Premium Motor Spirit (PMS), commonly known as petrol, reached an unprecedented N3.22 trillion in the second quarter of 2024, the highest figure ever recorded in the nation’s history. This information was revealed in the foreign trade report published by the National Bureau of Statistics (NBS). Petrol imports accounted for 25% of Nigeria’s […]Read More
A tank farm in Apapa, Lagos State, reportedly owned by the Nigerian National Petroleum Company (NNPC) Limited, has caught fire, according to the Lagos Fire Service. Margaret Adeseye, Director/CEO of Lagos State Fire Service, explained that the fire stemmed from a spillage of petroleum products within the tank farm’s perimeter. She emphasised collaborative efforts with […]Read More
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