Energy

Ebuka Daniel SEPLAT Petroleum Development Company has said that it will not stop investing in the Nigerian oil and gas sector even without the passage of the  Petroleum Industry Bill. The company’s Chief Executive Officer, Roger Brown said this in an interview in Lagos. Brown  said Seplat will continue to invest …

Ebuka Daniel The price of a litre of Automotive Gas Oil, also known as diesel, has maintained an upward trend as it rose to a record high of N290 this week. The price of a litre of diesel had increased to N280, buoyed by the recent increase in global oil …

Ebuka Daniel The Minister of State for Budget and National Planning, Clem Agba on Tuesday, reiterated the need to deregulate the Nigerian petrolatum sector by removing Premium Motor Spirit subsidy. According to him, the subsidy of PMS products is only benefitting the wealthy and not the poor in the society.The …

Ololade Omosan-Agie There are indications that Nigeria will soon partner with Mozambique to tap into its new billion-dollar gas industry.This was disclosed at the Signing of A Memorandum of understanding between the Ministry of Industry, Trade and Investment and the Nicky Okoye Foundation and the inauguration of board advisors for …

Oluwasina Phillip Vice President Yemi Osinbajo has said that the Petroleum Industry Bill when sent to President Muhammadu Buhari will receive speedy consideration. The PIB was passed into law last week by the National Assembly nine months after it was submitted by the President to the parliament. Speaking on Tuesday …

Ebuka Daniel Transcorp Energy Limited is in talks with the Federal Government to establish Nigeria’s first nuclear power plants. The company disclosed this in a release on Thursday following engagement with the Minister of Science and Technology, Ogbonaya Onu. Part of the talks revealed by the subsidiary of Transnational Corporation, …

Ebuka Daniel The Federal Government on Thursday said that a whopping sum of N900bn will be spent next year in subsidizing the Price of Premium Motor Spirit. The Minister of Finance, Budget and National Planning, Zainab Ahmed, said this during the public consultation of the Medium Term Expenditure Framework/Fiscal Strategy …

NCDMB, NEXIM Launch $40m fund for women in oil sector Qualified women entrepreneurs in the Nigerian oil and gas industry can now benefit from the $40m Women in Oil and Gas Intervention Fund deployed by the Nigerian Content Development and Monitoring Board and Nigerian Export-Import Bank. The NCDMB is contributing …

Ololade Omosan-Agie The Group Managing Director, Nigerian National Petroleum Corporation, Mele Kyari, on Wednesday announced that the oil firm saved over $1bn of the cost that would have been built in on the top of petroleum products imports into Nigeria. NNPC is the country’s sole importer of petrol for more …

Ebuka Daniel The Group Managing Director of the Nigerian National Petroleum Corporation, Mr. Mele Kyari has said that the decision of the Corporation to invest in Dangote Oil Refining Company will guarantee energy security for the country. Kyari said this on Tuesday during an interview on ‘Good Morning Nigeria’ show …