Energy

Ololade Omosan-Agie The Trade Union Congress (TUC) has directed its members to begin mobilisation for the January 27 nationwide protest against fuel subsidy removal. This is in compliance with the Nigeria Labour Congress’ (NLC) planned protest across the 36 states of the federation next week over the Federal Government’s intention to …

A new monthly report of the Organization of the Petroleum Exporting Countries has shown a plunge in Nigeria’s crude oil production in December 2021, triggering a loss of about N74.51bn in oil earnings. According to OPEC data, Nigeria produced an average of 1.19 million barrels per day in December, down from …

Crude oil production in Nigeria fell below 1.2 million barrels per day in December 2021 from 1.28 million bpd in the previous month, according to the Organization of the Petroleum Exporting Countries. The country produced 1.197 million bpd last month, based on direct communication, OPEC said in its latest monthly …

The Federal Government has announced plans to partner Egypt in the areas of technical support in the transmission and distribution of electricity in Nigeria. The Minister of Power, Abubakar Aliyu, announced this during a meeting with the Egyptian Ambassador to Nigeria, Ihad Awad, at the headquarters of the Federal Ministry …

The Federal Government on Wednesday said it was working to establish three modular refineries in each of the oil producing states, particularly in the Niger Delta region. Going by the plan, the government would have to establish about 18 refineries in the country’s six major oil producing states in the …

The Senate President, Ahmad Lawan, says the President, Major General Muhammadu Buhari (retd.), has not asked any official in his regime to implement the removal of petroleum subsidy. Lawan disclosed this to State House correspondents after a meeting with the President at the Aso Rock Villa, Abuja. According to him, …

Crude oil hit a more than seven-year high Tuesday on optimism the global recovery will ramp up demand, but concerns about the end of long-running central bank support and rising Treasury yields saw most equity markets reverse early gains. After an almost uninterrupted rally from the early days of the …

 Ebuka Daniel As the Federal Government commenced full implementation of the Petroleum Industry Act (PIA) in earnest, the new legislation has been tipped to provide business opportunities that will enable the Nigerian National Petroleum Company Limited (NNPC) earn more revenue for the country. Chief Executive Officer (CEO) of the company, Mallam Mele …

The shortfall in remittances by power distributors to the Nigerian Bulk Electricity Trading Company Plc and the Market Operator of the sector rose to N326bn between January and September 2021, the Federal Government has said. Latest data on remittances to the sector by the distribution companies obtained from a Federal …

Global oil prices continued to gain ground above $80 per barrel on Friday, helped by a growing consensus that demand remained surprisingly resilient to the current Omicron-led wave of COVID-19 cases which spooked markets in late 2021. Brent crude futures, which traded close to $83 per barrel earlier on Friday, …