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Energy

Establishment of Special Economic Zones in DRC and Zambia

African Export-Import Bank (Afreximbank) and the United Nations Economic Commission for Africa (ECA) have signed a Framework Agreement with the Democratic Republic of Congo and the Republic of Zambia for the establishment of Special Economic Zones (SEZ) for the production of Battery Electric Vehicle (BEV) and related services. Under the terms …

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Why Rehabilitation Of PH Refinery Is Delayed—NNPC

Temitayo Okereji The Federal Government has said the Port Harcourt Refinery, which was initially scheduled to commence operations in December 2022, will now commence operations before the end of the first quarter of 2023. The Group Managing Director of the Nigerian National Petroleum Company Limited, Mele Kyari, disclosed this during …

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Buhari orders security agencies to end crude oil theft 

With crude oil theft and pipeline vandalism in the Niger Delta region assuming unprecedented dimensions in recent times, President Muhammadu Buhari has charged security agencies to end the criminality before May 29, as his administration can no longer tolerate it. The Minister of State Petroleum Resources, Mr Timipre Sylva gave the …

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Oil Prices Fall On First Trading Day Of 2023

Oil prices fell on the first trading of the year on demand concerns as the International Monetary Fund’s boss Kristalina Georgieva, warned a third of the world’s economies may slide into a recession in 2023. Brent, the benchmark for two thirds of the world’s oil, fell 0.61 per cent to …

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DSS gives NNPC 48 hours to resolve fuel scarcity

The Department of State Services has given Nigerian National Petroleum Company Limited and other stakeholders in the downstream sector 48 hours to end the lingering fuel scarcity across the country. Addressing journalists at the DSS headquarters in Abuja on Thursday, its spokesperson, Peter Afunanya, said they held a closed door …

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Insecurity delaying 700MW Zungeru hydropower project

The Federal Government, said that the six power substations nearing completion in various locations in the Federal Capital Territory would boost electricity transmission by over 1,000 megawatts. It also stated that the 700 megawatts Zungeru Hydropower Project in Niger State would have been completed since January this year but was …

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Threats of renewable energy sources more real than ever—FG

Nigeria has lost its most valued crude oil customers, while some of its gas buyers now compete with the country in the same market, the Federal Government declared on Thursday. It also stated that international oil companies were massively shifting focus to alternative fuels, as the threat posed by the …

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Motorists Groan As Fuel Queues In Abuja Worsen

The queues for Premium Motor Spirit, popularly called petrol in Abuja and neighbouring states of Nasarawa and Niger, have continued to grow worse daily. But the Federal Government on Thursday said it had increased the number of PMS trucks supplying products to the Federal Capital Territory to 180 per day …

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