• April 2, 2025
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Nigeria’s Crude Oil Production Potential Hits 2.24 Million BPD, Says NUPRC

Nigeria’s Crude Oil Production Potential Hits 2.24 Million BPD, Says

February 28, 2025

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed that Nigeria’s technical potential for crude oil production stands at 2.24 million barrels per day (bpd), significantly higher than the current production quota of 1.75 million bpd. This announcement was made by Gbenga Komolafe, the Chief Executive of NUPRC, during the ongoing Nigeria International Energy Summit […]Read More

Nigeria Plans 65% Electricity Tariff Hike to Reflect Real Costs, Says Verheijen

Nigeria Plans 65% Electricity Tariff Hike to Reflect Real Costs,

February 2, 2025

The Nigerian government has indicated that electricity tariffs may need to increase by over 65% for some consumers to align with the actual cost of power production. Special Adviser to President Bola Tinubu on Energy, Olu Verheijen, told Bloomberg that power tariffs in Nigeria must rise by approximately two-thirds for many users to reflect the […]Read More

Dangote Refinery To Sell Petrol ₦970/Litre Despite Global Oil Hikes

Dangote Refinery To Sell Petrol ₦970/Litre Despite Global Oil Hikes

January 19, 2025

Dangote Refinery has reassured Nigerians that petrol will be sold at ₦970 per litre nationwide through its three key partners, despite a recent adjustment to its ex-depot price. Anthony Chiejina, a spokesperson for the refinery, attributed the price adjustment to a significant rise in global crude oil prices. In a statement released on Sunday, Chiejina […]Read More

Seplat Targets 120,000bpd crude Oil Production

Seplat Targets 120,000bpd crude Oil Production

January 8, 2025

Oil and gas giant Seplat has announced its ambition to double its crude oil production capacity within six months. This follows their acquisition of assets previously held by ExxonMobil, who have withdrawn from Nigeria’s onshore oil sector. Seplat’s Chief Financial Officer, Eleanor Adaralegbe, outlined this target in an interview with the Financial Times on Tuesday. […]Read More

Aba Power Hikes Tariffs by 50% Amid Economic Challenges

Aba Power Hikes Tariffs by 50% Amid Economic Challenges

January 7, 2025

Aba Power Limited Electric (APLE), an electricity distribution company (DisCo) serving nine Local Government Areas in Abia State, has announced a substantial increase in electricity tariffs, with rates soaring by over 50 percent. The revised tariffs, which came into effect on 1 January 2025, were authorised by the Nigerian Electricity Regulatory Commission (NERC). The company […]Read More

Shell Taps COOEC for Nigeria’s OML 144 Gas Project

Shell Taps COOEC for Nigeria’s OML 144 Gas Project

January 6, 2025

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

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