Industry

When Covid-19 restrictions hit the world's economy, global uncertainty drove most commodity prices down. April 20th 2020, marked a turning point in the history of the oil market with the US benchmark price for crude oil falling below…
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The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has described fuel subsidy as a major waste and a drain on the Nigerian economy, saying the government plans to replace it with transport subsidy to assuage the…
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"Total was ready to increase its participation in Nigeria’s oil sector especially with the recent signing of the Petroleum Industry Act (PIA) into law by President Buhari" TotalEnergies and Islamic Development Bank (IDB) on…
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...Says no sustainable development without infrastructure President Muhammadu Buhari has assured investors that investment in gas remains a top priority for the country, considering the huge benefits in terms of returns and utility.…
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Our Reporter with Agency Reports A group of young climate activists delivered a sharp rebuke to delegates at the COP26 climate summit Thursday, demanding that a fossil fuel non-proliferation treaty be put in place and calling out…
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The Organization of Petroleum Exporting Countries (OPEC) has said Africa’s proven oil reserves reached 126 billion barrels in 2019, with Nigeria having 36.9bn, which is about 29 per cent of the continent’s total reserves. OPEC…
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Ongoing efforts to control oil spill from an oil facility operated jointly by the Nigerian National Petroleum Corporation, NNPC and indigenous oil firm Aiteo Eastern E&P have been reportedly aborted as the spill is described to be…
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"$450 billion out of this amount would be invested in new refinery projects and expansions of existing units" Despite fears in some quarters that fossil fuel will become irrelevant in some years, the Organisation of Petroleum…
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The Minister of State for Petroleum Resources, Timipre Sylva has said that the Federal Government has earmarked the sum of N250bn to assist Nigerians who are willing to invest in autogas assembly plants. He made the assertion on…
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"Harnessing Nigeria’s vast gas resources was key to developing the country" …The multinational oil company has also provided access to nearly $1.5 billion in loans to 764 Nigerian vendors under the Shell Contractor Support Fund …
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