Energy

Oluwasina Phillip Barely 48 hours hours after Shell launched divestment of its 30 per cent stake in Shell Petroleum Development Company of Nigeria Limited subsidiary, the Group Managing Director of the Nigerian National Petroluem Corporation, Mele Kyari has highlighted key guidelines that would guide evaluation of would-be replacement of divesting …

Oluwasina Phillip The Nigerian National Petroleum Corporation (NNPC) has announced that its downstream subsidiary, the Petroleum Products Marketing Company (PPMC), recorded ₦234.63 billion revenue from the sale of white products in the month of March 2021 representing a 24.7% increase from the ₦188.15billion sales recorded in the previous month of …

Ololade Omosan-Agie The Federal Government said on Thursday that it had agreed to reduce the price of industry power gas from $2.50 to $2.18 following extensive negotiation between the government and the organised labour. The State Minister of Petroleum, Mr Temipre Sylva, who spoke during the 2021 Gas Sector Stakeholders …

Ebuka Daniel The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has assured that the ongoing 614 kilometres Ajaokuta-Kaduna-Kano (AKK) gas pipeline project would be delivered on schedule. He said the project will create prosperity through massive job opportunities and guarantee peace for the country. …

Ebuka Daniel The $1.5bn rehabilitation of the Port Harcourt Refining Company has commenced in full and part of the facility will start delivering refined products by September next year, the Nigerian National Petroleum Corporation has said.NNPC officially signed the contract with Tecnimont SPA for the $1.5bn rehabilitation programme of PHRC …

Oluwasina Phillip Power generation in Nigeria dropped below the 4,000 megawatts mark on Tuesday amid the Eid-el-Kabir celebration.The total generation in the country stood at 3,958.7MW as of 6am on Tuesday, down from 4,270.7MW on Monday, according to data obtained from the Nigerian Electricity System Operator. On Monday, the peak …

Ololade Omosan-Agie The Department of Petroleum Resources says the pump price of petrol in Nigeria may rise up to as much as N1000 per litre when the petrol subsidy regime comes to an end without an alternative energy source. DPR Director, Sarki Auwalu, stated this while responding to questions and …

Brent, the crude against which Nigeria’s oil is priced, dropped in price on Monday morning following the agreement reached by members and allies of the Organisation of Petroleum Exporting Countries to increase oil production. Industry figures showed that Brent fell by $1.2 per barrel to $72.39 per barrel as of …

Ololade Omosan-Agie Despite demands by lawmakers from the South as well as other stakeholders for a five per cent allocation for host communities, the Senate on Thursday approved a three percent allocation for them in the Petroleum Industry Bill. The three percent approved represents percentage of the total operating expenses …

Ebuka Daniel The Board of Directors of the African Development Bank Group has approved a $6 million grant to launch the initial phase of the Desert to Power West Africa Regional Energy Program. Desert to Power, an initiative led by the Bank, is expected to transform the Sahel by harnessing …