Energy

Oluwasina Phillip Rainoil Limited has assured the public of safety around the Ijegun-Egba community where its Liquefied Petroleum Gas depot is located, stating that there was no gas leak within its facility.In a statement issued by the company on Friday, the company said speculation and rumours of a gas leak …

Ebuka Daniel The Federal Government earned the sum of N79.96bn from the solid minerals sector in 2019, an audit report of the Nigeria Extractive Industries Transparency Initiative has revealed. The N79.96bn shows a 15 per cent increase when compared to the N69.47bn recorded in 2018. The report which was released …

Ololade Omosan-Agie The Zamfara State Government has accused unpatriotic elites and politicians from past administrations of fueling illegal mining which is also linked to banditry in the state. The Chairman, Zamfara State Anti Illegal Mining Committee, Sani Abdullahi Shinkafi, made the allegation on a Channels TV Programme, ‘Sunrise Daily’ Governor …

Ebuka Daniel The Board of Directors of the African Development Bank have approved an €83m loan to finance the second phase of Egypt’s Electricity and Green Growth Support Program. The funding is part of the Bank’s budget support to the Egyptian government to strengthen its electricity infrastructure, which is expected …

Ebuka Onu President Muhammadu Buhari has charged stakeholders in the Bonny Nigeria Liquefied Natural Gas (NLNG) to collaborate to ensure the Train 7 project is completed safely and on time. The President gave the charge at the virtual groundbreaking ceremony of the project in Bonny Island, Rivers State. The President …

Ebuka Daniel Nigeria has lost $210bn investments to the delay in the passage of the Petroleum Industry Bill. The passage of the bill had lingered in the last 14 years due to vested interest from various political and economic stakeholders. Financial Derivative Company’s latest bi-monthly publication suggests that the delay …

Ebuka Daniel The Nigerian National Petroleum Corporation (NNPC),  the Nigerian Content Development & Monitoring Board (NCDMB) in partnership with Zed Energy Limited executed a Shareholders Agreement for the development of a 50 million litre petroleum products terminal in Brass, Bayelsa State. The N10.5 billion Brass Petroleum Products Terminal project will …

Ebuka Daniel The Nigerian Senate has commended the Nigerian National Petroleum Corporation (NNPC) for its efforts towards entrenching transparency and stamping out corruption from its system. The commendation was given by the Chairman of the Senate Committee on Anti-Corruption and Financial Crimes, Senator Suleiman Abdu Kwari, at a hearing which …

Oluwasina Phillip President Muhammadu Buhari has said that it is difficult to remove fuel subsidy without an alternative solution because such action would be resisted by Nigerians. He said this on Thursday during an interview on Arise TV. The President said while his administration closed the borders to check smuggling, …

Oluwasina Phillip The Nigerian National Petroleum Corporation has said that the Nigerian oil and gas industry will require at least $40bn (N16.4trn) in direct investments in basic infrastructure to achieve the federal government’s much talked-about “Decade of Gas.” NNPC said that it was targeting between 7.4 billion cubic feet to …