The Nigerian National Petroleum Company (NNPC) Limited has reduced the ex-depot price of Premium Motor Spirit (PMS), popularly known as petrol, from N1,020 to N899 per litre. This price adjustment, aimed at responding to the competitive dynamics introduced by deregulation, is expected to intensify competition among oil marketers and lead to cost savings for consumers. […]Read More
The Nigerian National Petroleum Company (NNPC) Limited has dismissed claims circulating in the media that the recently restarted Old Port Harcourt Refinery has ceased operations just two months after its re-streaming. In an official statement signed by Olufemi O. Soneye, NNPC’s Chief Corporate Communications Officer, the state-owned oil company described the reports as untrue. The […]Read More
Dangote Refinery has addressed the recent claim by the Nigerian National Petroleum Company (NNPC) Limited regarding a $1 billion loan backed by crude, reportedly secured to support the refinery during liquidity challenges. In a statement signed by Anthony Chiejina, Group Chief Branding and Communications Officer of Dangote Group, Dangote Refinery refutes NNPC $1 billion loan […]Read More
Ikeja Electric to Create Subsidiary The Nigerian Electricity Regulatory Commission (NERC) has transferred regulatory oversight of the electricity market in Lagos State to the Lagos State Electricity Regulatory Commission (LASERC). Lagos Electricity Market Regulatory Autonomy aligns with the amended Constitution of the Federal Republic of Nigeria (CFRN) and the provisions of the Electricity Act 2023 […]Read More
The Chief Corporate Communications Officer of Nigerian National Petroleum Company Limited (NNPC Ltd), Olufemi Soneye, announced on Monday that the company secured a $1 billion crude-backed loan to address liquidity challenges at the Dangote Refinery. Speaking during an energy stakeholders’ engagement session in Abuja, Soneye highlighted NNPC’s commitment to fostering public-private partnerships to drive national […]Read More
President Bola Ahmed Tinubu has applauded Shell and its partners for announcing the Final Investment Decision (FID) on the Bonga North Deep Offshore Field, marking a pivotal milestone in Nigeria’s oil and gas sector. According to an official statement, this project—the country’s first deepwater oil venture in over a decade—reflects the transformative impact of the […]Read More
The Minister of Power, Adebayo Adelabu, has revealed plans to boost Nigeria’s national grid capacity by an additional 150 megawatts (MW) before the end of 2024. Adelabu shared this update on Thursday while addressing State House Correspondents after a high-level meeting between German President Frank-Walter Steinmeier and Nigerian President Bola Tinubu at the Presidential Villa […]Read More
Seplat Energy Plc has completed the acquisition of Mobil Producing Nigeria Unlimited (MPNU) from ExxonMobil, marking a significant milestone for the company and Nigeria’s oil and gas industry. This transformative deal more than doubles Seplat Energy’s production capacity, positioning the company as a key driver of growth, profitability, and sustainable development in Nigeria’s energy sector. […]Read More
Russia’s state-owned oil company, Rosneft, has finalised a landmark agreement to supply nearly 500,000 barrels of crude oil daily to India’s Reliance Industries. This deal, reported by Reuters on Thursday, marks the largest oil supply partnership between the two nations. The 10-year contract, valued at approximately $13 billion annually at current market prices, will see […]Read More
Nigerians have experienced another nationwide blackout following the collapse of the national power grid, marking the first grid failure in December 2024. This incident is the fourth grid collapse in the past three months, leaving many parts of the country grappling with prolonged power outages. Some regions are still recovering from the previous total system […]Read More
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